The import of aluminium bars, rods, and profiles to India saw significant fluctuations over the years from 2013 to 2023. In 2023, the import value stood at $166.19 million USD, marking a steady increase from previous years.
Notable year-on-year variations over the past two years include a growth of 3.6% in 2022 and 3.4% in 2023. The five-year CAGR leading up to 2023 shows an average annual increase of 3.31%, while the forecasted five-year CAGR to 2028 is 2.49%, indicating a slower growth rate.
Trends over a longer period (2013-2023):
- Early years (2013-2014): Declines in import values
- Mid period (2015-2019): General growth with occasional dips
- Recent years (2020-2023): Recovery from 2020 dip with consistent growth
Future trends to watch for:
1. The impact of global economic conditions on aluminium import growth.2. Policy changes related to aluminium imports and manufacturing initiatives in India.3. Technological advancements in aluminium production that could affect import dependency.
