In 2023, the US imported unwrought nickel at 114.85 million kilograms. Forecasted data suggests a gradual increase from 115.38 million kilograms in 2024 to 116.84 million kilograms in 2028. The year-on-year percentage variations between 2024 and 2025 are 0.32%, from 2025 to 2026 is 0.32%, from 2026 to 2027 is 0.31%, and from 2027 to 2028 is 0.31%. Over these five years, the compound annual growth rate (CAGR) is approximately 0.33%, indicating steady growth.
Future trends to watch include:
- Potential shifts in nickel demand due to increased production of electric vehicles.
- The impact of geopolitical factors on nickel supply chains.
- Technological advancements in recycling and nickel extraction.
