In 2023, the import of nuts of iron or steel to the US was significantly less than the forecast for 2024, highlighting a growing trend in import volume. From 2024 to 2028, the import volume is forecasted to increase steadily, with incremental yearly growth rates. Notable year-on-year growth occurs in 2025 and 2028, with slight acceleration, reflecting increased demand and potential economic factors driving imports. Over the five-year span, the compound annual growth rate (CAGR) predicts a modest but consistent rise, suggesting a stable market environment.
Future trends to watch for include fluctuations in global steel prices, potential changes in US trade policies, and advancements in alternative materials which could impact the import dynamics of iron or steel nuts.