Forecast: Import of Welded Link of Iron or Steel to Thailand

The import of welded links of iron or steel to Thailand stood at 6.1412 million USD in 2023. Over the last two years, the value saw an increase, with 2022 posting a 3.68% rise, followed by a 3.48% increase in 2023. Examining the last five years, the Compound Annual Growth Rate (CAGR) indicates a steady average increase of 3.16% per year. Historically, the market has experienced fluctuations, with significant year-on-year changes like a notable 25.19% increase in 2021 and a decline in 2020 by 13.56%. The data forecasts a continued growth trend with a forecasted CAGR of 2.54% from 2023 to 2028, reaching an expected value of 7.2203 million USD by 2028, marking a forecasted growth rate of 13.38% over these years.

Future trends to watch for include the impact of global steel prices, trade policies, and potential economic shifts within Thailand and its trading partners. Additionally, technological advancements in steel production and developments in related industries could also influence import values.