The import of aluminium wire to India stood at $244.44 million in 2023. Forecasted data for 2024 to 2028 shows a steady increase in import value. The import value is expected to rise from $258.18 million in 2024 to $313.36 million by 2028, reflecting consistent growth.
Year-on-year variation:
- From 2023 to 2024: 5.63% increase
- From 2024 to 2025: 5.52% increase
- From 2025 to 2026: 5.10% increase
- From 2026 to 2027: 4.77% increase
- From 2027 to 2028: 4.46% increase
The Compound Annual Growth Rate (CAGR) over the next five years (2024-2028) is approximately 5.09%. This indicates steady and stable growth in aluminium wire imports to India.
Future trends to watch for include global aluminium price fluctuations, changes in import tariffs and trade policies, and the increasing demand for aluminium in India's growing infrastructure and manufacturing sectors. Additionally, technological advancements in aluminium production and recycling could impact future import dynamics.
