From 2013 to 2023, the import of asbestos friction material, articles except for brake to China displayed fluctuations, starting at 1.7922 million kilograms in 2013 and declining to 1.6036 million kilograms in 2023. The overall trend highlights periodic increases and decreases with significant variations like a 21% drop in 2015 and a 13.52% rise in 2013. The compound annual growth rate (CAGR) over these years alternated between negative and positive values, signifying inconsistent market sentiment.
Year-on-year, the most recent two years show minor declines of 0.31% and 0.3% respectively for 2022 and 2023. Looking forward, the forecasted figures from 2024 to 2028 present a slight but steady decline, with a 5-year forecasted CAGR of -0.25%, indicating a gradual reduction in imports.
Future trends to watch for include regulatory changes on asbestos-containing products, technological advancements in friction materials, and shifts in automotive manufacturing practices both domestically in China and globally that could influence these import figures.
