The forecast for the re-import of nickel alloy wire to Canada indicates a consistent decrease from 2024 to 2028. Starting at 9.95 thousand USD in 2024, the value shows a year-on-year decrease of approximately 0.80%, with the same percentage applied for each subsequent year. This pattern of decline results in the re-import value dropping to 9.63 thousand USD by 2028. In 2023, the actual re-import value stood at approximately 10.03 thousand USD. Over the five-year horizon, the compound annual growth rate (CAGR) reflects a negative trend, signaling caution for future revenue expectations.
Future trends to watch for include:
- Fluctuations in global nickel prices, as they directly impact import values.
- Economic policies affecting trade tariffs and import regulations in Canada.
- Advancements in domestic nickel wire production that could reduce reliance on imports.
- Shifts in demand from key industrial sectors that utilize nickel alloy wire.