Forecast: Import of Hollow Drill Bars and Rods of Alloy and Non-Alloy Steel to the UK

The UK's import of hollow drill bars and rods of alloy and non-alloy steel shows a declining trend from 2024 onwards, decreasing from 138.1 thousand US dollars in 2024 to 40.15 thousand US dollars by 2028. This indicates a significant reduction in import value year-on-year, with a substantial drop forecasted annually.

In 2023, the recorded import value was higher, marking the beginning of a downtrend for the subsequent years. Over the five-year forecast period (2024-2028), the compound annual growth rate indicates this negative trajectory.

Future trends to monitor include:

• Shifts in domestic steel production impacting import reliance.
• Changes in demand from key sectors such as automotive or construction.
• International trade policy adjustments affecting import tariffs and regulations.
• Technological innovations potentially altering material requirements.