In 2023, Japan recorded an import volume of approximately 114 million kilograms of nickel sulphates. The forecast for 2024 suggests a 5.9% growth in import volumes to 120.72 million kilograms. From 2025 to 2028, imports are projected to increase steadily, reaching 146.69 million kilograms, representing a 22.8% cumulative growth over this period. The compound annual growth rate (CAGR) is estimated at 5% from 2024 to 2028. This upward trend indicates a robust demand for nickel sulphates, driven primarily by the expanding electric vehicle and battery manufacturing sectors.

Future trends to watch for include:

The impact of domestic nickel sulphate production capabilities on import volumes.
Global pricing fluctuations of nickel and its derivatives due to geopolitical influences.
Technological advancements in battery chemistry that may alter demand patterns for nickel sulphates.