The import of refined copper bars, rods, and profiles to India has displayed a substantial downward trend from 2013 to 2023, with the value standing at 11.699 million kilograms in 2023. The year-on-year change from 2022 to 2023 was a decrease of 8.64%, and an average annual decline (CAGR) of -4.84% over the last five years. The forecast indicates a continued decline, reaching 5.9202 million kilograms by 2028, representing a forecasted 5-year CAGR of -10.8%, leading to a -43.53% growth rate over the forecast period.
Future trends to watch for:
- Changes in global copper prices impacting import volumes.
- Domestic production capacity expansions reducing dependency on imports.
- Government policies favoring local manufacturing.
- Technological advancements in materials influencing demand for copper imports.
