Based on the data, the year-on-year percentage variations are as follows:
- 2024: N/A (Baseline Year)
- 2025: ((20.139 - 19.12) / 19.12) * 100 = 5.32%
- 2026: ((21.137 - 20.139) / 20.139) * 100 = 4.96%
- 2027: ((22.115 - 21.137) / 21.137) * 100 = 4.63%
- 2028: ((23.074 - 22.115) / 22.115) * 100 = 4.34%
The Compound Annual Growth Rate (CAGR) over the five-year period is calculated as follows:
CAGR = ((23.074 / 19.12)^(1/5) - 1) * 100 = 3.76%
Future Trends to Watch
The forecast for the import of titanium into India indicates a steady growth trend, with CAGR of 3.76% over five years. This growth may be influenced by factors such as rising demand in aerospace, automotive, and medical industries. Additionally, watch for geopolitical shifts, technological advancements, and trade policies that may impact the titanium market.
