The forecast for the import of pipe fittings, butt welding of stainless steel to Thailand from 2024 to 2028 shows a steady decrease in volume. Starting from 903.52 thousand kilograms in 2024, the imports are projected to reduce year-on-year, reaching 842.28 thousand kilograms by 2028. When examining year-on-year percentage variations, there is a consistent decline visible over the forecasted period.
Comparing the data to the actual volume in 2023, a downward trend is apparent. Analyzing the last two years, the imports declined annually by approximately 1.7%. Over a five-year horizon, the compound annual growth rate (CAGR) also indicates a negative trend, suggesting a continuous decline in the demand for these stainless steel fittings.
Future trends to watch for include potential shifts in domestic manufacturing capabilities, changes in international trade policies, and innovations in alternative materials or substitutes for stainless steel butt welding pipe fittings. Such factors could significantly impact import volumes in the coming years.
