The import of palladium, unwrought or in powder form, to the US stood at 73.1 thousand kilograms in 2023. Historically, the data reveals a fluctuating trend from 2013 to 2023. Notably, there was an increase from 2013 to 2014 (+25.86%), followed by periods of decline and growth: a significant drop in 2015 (-12.14%) and 2020 (-18.12%), with a rebounding large increase in 2021 (+24.81%). Over the last two years, the trend shows a declining path with decreases in 2022 (-6.03%) and 2023 (-1.33%). The Compound Annual Growth Rate (CAGR) over the past five years reveals an average annual decrease of -2.12%.
Looking ahead to the forecasted data from 2024 to 2028, there is a consistent expectation of a decline in imports, with the five-year CAGR forecasted at -1.16%. The total growth rate for this period is projected to be -5.66%, indicating a continued downward trend through 2028.
Future trends to watch for include the potential impact of global market dynamics, technological advancements in alternative materials, and changes in environmental regulations that could affect both the supply and demand for palladium in various industries. Additionally, shifts in automotive manufacturing and the transition to electric vehicles could significantly influence palladium import volumes.
