The forecasted values for the import of millstones, grinding stones, and grinding wheels to China from 2024 to 2028 show a consistent upward trend, increasing steadily from $441.15 million in 2024 to $491.93 million in 2028. This indicates a compounded annual growth rate (CAGR) over the five-year period. As of 2023, the actual import value was lower than the forecasted beginning of 2024, reflecting an expected increase in demand.
Year-on-year, the projected growth from 2024 to 2025 is approximately 2.96%, from 2025 to 2026 is 2.82%, from 2026 to 2027 is 2.69%, and from 2027 to 2028 is 2.56%, demonstrating a slight deceleration in the rate of growth.
Future trends to watch for include potential impacts of technological advancements on manufacturing, shifts in China's domestic production capacity, changes in trade policies, and fluctuations in global demand for construction and manufacturing materials.
