The sold production of steel flanges in the UK has shown a significant downward trend from 2013 to 2023, dropping from 15.221 million kilograms to 4.563 million kilograms. This represents a substantial decline with various fluctuations in between. The sharpest drop occurred between 2013 and 2014 with a year-on-year decrease of 50.39%. The period from 2015 to 2020 experienced inconsistent changes, with 2019 recording a recovery at 13.84% year-on-year. However, the volumes declined again, culminating in a 6.2% drop in 2023 compared to 2022.
Over the last two years, the volume decreased by approximately 6% annually, while the five-year CAGR indicates an average annual contraction of -3.65%. Furthermore, forecast data from 2024 to 2028 suggests a continued decline with an average annual decrease (CAGR) of -6.73%, possibly reducing the production to 2.9869 million kilograms by 2028.
Future trends to watch for include technological advancements in steel manufacturing, potential fluctuations in demand due to global economic conditions, and changes in UK industrial policy that could impact production volumes. Monitoring market demand for steel flanges internationally will also be critical in understanding potential recovery or further decline.