The forecasted data indicates a continuous decline in the import of steel line pipe of a kind used for oil or gas pipelines longitudinally submerged arc welded to the US from 2024 to 2028. In 2023, the import volume stood at approximately 195 million kilograms. The trend reflects a year-on-year decrease of about 6.4% in 2025, followed by further reductions of approximately 6.6% in 2026, 7% in 2027, and 7.3% in 2028. Calculating the compound annual growth rate (CAGR) from the baseline year, there's an overall negative trend of around 6.4% each subsequent year.
Future trends to watch for include potential shifts in oil and gas exploration activities, evolving energy policies focusing on sustainability, or technological advancements which might impact demand for steel pipelines. Additionally, geopolitical factors or trade agreements could influence import volumes.
