The import of nickel alloy plates, sheets, strips, and foil to Japan in 2023 was estimated at 62.5 million US dollars. From 2024 onwards, Japan is expected to experience a gradual decrease in these imports, with forecasts showing a decline to about 60.037 million US dollars by 2028.
On a year-on-year basis, this reflects a declining trend, with imports decreasing by approximately 0.8%-0.9% annually from 2024 to 2028. The compound annual growth rate (CAGR) over the five-year forecast period is negative, underscoring the persistent reduction in import values.
Trends to watch for in the future include:
- Fluctuating global commodity prices influencing import costs
- Technological advancements reducing demand for imported nickel alloys
- Shifts in Japanese industry needs or domestic production capacity
- Changes in trade policies or agreements affecting import dynamics
