The Domestic Material Consumption of Nickel in Sweden has generally shown an upward trend from 2013 to 2023, with fluctuations. In 2023, consumption stood at 31.27 thousand metric tons. There were notable increases in years like 2016 and 2022, with growth rates of 11.25% and 13.99%, respectively. However, there were also declines, such as in 2019 and 2020 with decreases of 8.36% and 8.25%. The most recent two years showed a significant rise followed by stagnation, with a negligible growth rate of 0.042% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was 0.02%.
Looking ahead, the forecast from 2024 to 2028 suggests stabilization, with incremental increases each year, peaking at 31.31 thousand metric tons in 2028. The expected CAGR for the forecasted period is minimal at 0.02%, indicating a period of relative stability in Nickel consumption.
Future trends to watch for involve fluctuations in global nickel supply and demand dynamics, technological advancements in nickel usage, and changes in domestic industrial activities in Sweden which could impact material consumption significantly.
