The import of Nickel Alloy Bars, Rods, and Profiles to India has shown fluctuating trends over the past decade. From a high of $132.21 million in 2013 to a low of $28.46 million in 2016, the values have varied significantly. A notable recovery was observed from 2017 onwards, with a steady upward trend. The year 2023 saw an import value of $63.371 million, reflecting a year-on-year growth of 3.57% from 2022. The compound annual growth rate (CAGR) over the last five years (2019-2023) is computed at approximately 1.4%. Projections indicate a moderate growth trend, with a forecasted CAGR of 2.6% from 2024 to 2028, reaching a value of $74.863 million in 2028.
Future trends to watch for include:
- Global market shifts in nickel supply and demand.
- Technological advancements influencing nickel alloy usage.
- India's internal demand, especially in automotive and aerospace sectors.
- Trade policies and tariffs impacting import dynamics.
