The import of wire of silico-manganese steel to Malaysia stood at 9.5 million USD in 2023. Over the next five years, the forecasted data indicates a consistent upward trend. The import values are projected to increase from 9.8975 million USD in 2024 to 11.283 million USD in 2028. The year-on-year growth rates indicate a steady increase, with a 3.61% rise from 2024 to 2025, a 3.42% rise from 2025 to 2026, a 3.24% rise from 2026 to 2027, and a 3.08% rise from 2027 to 2028. The Compound Annual Growth Rate (CAGR) from 2023 to 2028 is approximately 3.32%.
Future trends to watch for include fluctuations in global steel prices, changes in Malaysia's domestic steel production capacity, and potential shifts in trade policies or tariffs that could impact import levels. It is also important to monitor technological advancements in steel manufacturing that could affect the demand for specific types of wire, including silico-manganese steel.
