The forecasted values for the import of unwrought aluminium alloys to South Korea show a steady increase from 2024 to 2028. The annual imports in million kilograms are as follows:
- 2024: 508.8
- 2025: 518.01
- 2026: 527.03
- 2027: 535.87
- 2028: 544.54
This indicates an average year-on-year growth rate of approximately 1.79% from 2024 to 2028. Calculating the Compound Annual Growth Rate (CAGR) gives us a rate of about 1.73% over the 5-year period.
Future Trends to Watch
South Korea's import of unwrought aluminium alloys is projected to continue its upward trend, driven by the automotive, electronics, and construction industries. Factors such as technological advancements in recycling and trade policy changes will also play a significant role in shaping future imports.
