The import of mica plates, sheets, and strips into the UK is projected to decline over the next five years, from 424.86 thousand kilograms in 2024 to 395.5 thousand kilograms in 2028. This indicates a downward trend, with a gradual annual decrease around -1.5%, based on the compound annual growth rate (CAGR). In comparison, the recorded volume for 2023 stood at 432 thousand kilograms, representing a more pronounced decline in the initial years.
For future trends, attention should be focused on:
- Potential technological advancements that could reduce the demand for mica components.
- Changes in global trade policies or sourcing alternatives for the UK.
- Evolution in industries reliant on mica, influencing their demand patterns.