In 2023, the UK imported 6.92 million kilograms of tubes and pipes of non-circular cross-section, seamless and hollow profiles, seamless of steel. The forecast data for 2024 to 2028 indicates a declining trend in import volume, decreasing steadily from 6.0372 million kilograms in 2024 to 4.3924 million kilograms in 2028, with a compound annual growth rate (CAGR) of about -6.1%. The year-on-year decrease starting from 2024 is notable, reflecting a consistent reduction in imports over the forecast period.
Future trends to watch for include:
- Impact of Brexit on trade regulations and cost.
- Fluctuations in global steel prices affecting demand.
- Technological advancements in local manufacturing reducing dependency on imports.
- Environmental policies influencing the steel industry's evolution.