The forecast for the import of nickel sulphates to China indicates a steady increase from 2024 to 2028, with volumes rising from 9.5652 million kilograms to 10.583 million kilograms. In 2023, the actual import volume was slightly less than the 2024 forecast. The year-on-year growth in imports showcases a continuous upward trend, with an approximate annual percentage increase ranging from about 2.7% to 3.6%. The Compound Annual Growth Rate (CAGR) for the five years up to 2028 suggests a stable growth rate, reflecting China's increasing demand for nickel sulphates, primarily driven by the expanding electric vehicle (EV) sector.
Future trends to watch for include policy changes in China's environmental regulations, shifts in the global supply chain, and advancements in battery technology, which may collectively impact demand and import volumes of nickel sulphates. Additionally, fluctuations in global nickel prices and trade relations could significantly influence market dynamics.
