In 2023, the import of nickel waste or scrap to the US was recorded at 47.2 million kilograms. Based on the forecasted data, a steady increase is expected from 2024 to 2028, with imports projected to reach 55.867 million kilograms by 2028. This represents a year-on-year growth rate of approximately 3.7% per annum. Overall, the compound annual growth rate (CAGR) anticipated over the five-year forecast period is around 3.4% annually, reflecting a consistent upward trend in imports.
Future trends to watch for include:
- Global supply chain dynamics affecting the availability and pricing of nickel scrap.
- Technological advancements in recycling processes that could impact demand.
- Environmental regulations and sustainability efforts influencing recycling industry practices.
- Fluctuations in industries that heavily rely on nickel, such as electronics and automotive sectors, particularly with the rise of electric vehicles.
