In 2023, the UK's import of stainless steel not further worked than hot rolled, drawn, extruded stood at actual volumes, while future projections from 2024 to 2028 indicate a steady increase from 16.936 million kilograms to 18.136 million kilograms. The year-on-year growth percentage reveals a gradual uptrend, with 2024 forecasting a 1.83% rise from the preceding year, continuing with consistent increments of around 1.8%-1.9% through 2028. Over the forecasted five-year period, the compound annual growth rate (CAGR) suggests a consistent annual increase.
Future trends to watch for:
- Potential shifts in global supply chains that could affect import volumes.
- Technological advancements in steel production and their impact on demand.
- Changes in UK government policies on steel import tariffs and trade agreements.
