The forecasted import of rare gases to India from 2024 to 2028 shows a consistent downward trend, with sequential yearly declines evident. Starting from a forecasted value of 570.48 thousand kilograms in 2024, the import volume decreases each year, reaching 526.48 thousand kilograms by 2028. This suggests a gradual reduction in demand or a possible increase in domestic production or substitution opportunities over this period.
In 2023, the actual import stood at 582.76 thousand kilograms, highlighting a clear 2.10% decline year-over-year from 2023 to 2024. The compound annual growth rate (CAGR) for this period reveals a steady decrease, underpinning a persistent decline in imports.
Future trends to watch include potential impacts of technological advancements in alternative materials, changes in international trade regulations, and fluctuations in demand from key industries such as electronics and lighting, which primarily use rare gases.
