The import forecast of lithium oxide and hydroxide to Japan shows a steady upward trend from 2024 to 2028. Starting at 45.927 million kilograms in 2024, imports are expected to rise to 56.112 million kilograms by 2028. This consistent growth suggests a compound annual growth rate (CAGR) over the five-year forecast period.
Year-on-year growth is evident, with increases such as from 2024 to 2025 and from 2025 to 2026 maintaining the momentum. While 2023 data is crucial to determine historical growth, the focus here is on future increases, with significant growth from 2024 onward.
Future trends to watch for:
- Continued demand growth driven by electric vehicle production and battery storage advancements.
- Potential supply chain disruptions and geopolitical factors impacting import volumes.
- Technological advances in alternative battery materials that could influence lithium demand.
