The import of Aluminium Alloy Plate, Sheet, and Strip to India has shown a varied trend over the past decade, with significant fluctuations. Starting from 31.85 million kilograms in 2013, the imports experienced both growth and decline, reaching 44.167 million kilograms in 2023. The highest year-on-year growth occurred in 2021, with a 24.78% increase, while 2020 saw a significant drop of -13.87%. The compound annual growth rate (CAGR) for the period ending in 2023 stands at 3.6%.
Looking forward, imports are forecasted to continue increasing, albeit at a slower pace, with a projected CAGR of 2.36% from 2024 to 2028, leading to an expected volume of 51.317 million kilograms by 2028. This reflects a forecasted growth rate of 12.36% over the next five years.
Future trends to watch for:
- Global economic conditions impacting raw material supply and prices.
- Technological advancements in aluminium processing and recycling.
- Changes in trade policies and import tariffs influencing market dynamics.
