The forecast for the import of tyre cord fabric of high tenacity manmade yarn to China from 2024 to 2028 indicates a steady increase in value. Starting at $130.55 million in 2024, the forecast grows incrementally to $139.59 million by 2028. The year-on-year growth rates appear consistent, suggesting moderate but sustained interest in this import category. Comparing to actual data from 2023, the forecast illustrates an assumed upward trend in demand.
- From 2024 to 2025, the increase is approximately 1.79%.- From 2025 to 2026, the growth is about 1.72%.- From 2026 to 2027, an increase of roughly 1.66%.- From 2027 to 2028, further growth of around 1.6%.- The Compound Annual Growth Rate (CAGR) over these five years stands at approximately 1.73%.
Future trends to watch include potential fluctuations in global supply chains, which might affect the price and availability of these imports. Additionally, the evolving automotive sector in China could influence demand, as tyre cords are paramount in manufacturing. Environmental policies and technological advances in materials might also shift the landscape, introducing new market dynamics.
