The forecast for nickel domestic material consumption in the UK shows a slight and consistent year-on-year decline from 2024 to 2028. The values decrease progressively from 29.97 to 29.69 thousand metric tons, indicating a gradual decrease in consumption. The data suggest minimal volatility with a CAGR that reflects a stable, slight downward trajectory over the five-year period. As of 2023, the actual consumption would have been a relevant benchmark, signifying a key point of comparison for these future forecasts.
Future Trends to Watch for:
- Technological advancements in the automotive and battery sectors, potentially influencing nickel demand.
- Policy changes related to environmental standards impacting nickel usage.
- Global market fluctuations and geopolitical influences that might affect nickel supply chains and pricing, influencing domestic consumption trends.