The production value of structural metal products in the UK in 2023 was 10.74 billion Euros. Forecasts for the years 2024 to 2028 indicate a gradual decrease, with values predicted to be 10.72 billion Euros in 2024, 10.71 billion Euros in 2025, 10.69 billion Euros in 2026, 10.67 billion Euros in 2027, and 10.66 billion Euros in 2028. The year-on-year percentage variation shows slight decreases: -0.19% from 2023 to 2024, -0.09% from 2024 to 2025, -0.19% from 2025 to 2026, -0.19% from 2026 to 2027, and -0.09% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) from 2023 to 2028 indicates an average yearly decline of approximately -0.11%.
Future trends to watch for include:
• Fluctuations in raw material costs which might impact production values.
• Potential technological advancements that could improve production efficiency.
• Economic policies and trade agreements affecting the industry’s growth.
• Demand shifts in the construction and manufacturing sectors driving changes in production volumes.