From 2013 to 2023, the production of nickel bars, rods, profiles, and wire in the UK has shown significant fluctuations. The production volume for 2023 stood at 11.301 million kilograms, marking a year-on-year increase of 3.41%. Notable changes included a sharp decline in 2017 (-55.19%) and a substantial rise in 2018 (230.11%). The most recent 5-year CAGR leading up to 2023 has been moderate at 1.39%, reflecting a stabilized period after previous volatility.
Looking forward, the production forecast from 2024 to 2028 suggests a steady upward trend, with a projected 5-year CAGR of 2.49%. By 2028, the production volume is expected to reach 13.258 million kilograms, representing a 13.08% growth from 2023.
Future Trends to Watch For:
- Technological advancements in production processes to improve efficiency.
- Fluctuations in raw material prices and their impact on production costs.
- Global demand and supply dynamics influenced by economic and geopolitical factors.
- Environmental regulations and their effect on production methods and outputs.
- Potential new applications or industries driving increased demand for nickel products.
