Based on the data provided, Australia's import of Nickel Plates, Sheet, Strip, and Foil is projected to decline consistently from 2024 to 2028. For the year 2024, the forecasted import volume stands at 14.95 thousand kilograms. By 2028, this figure is expected to decrease to 12.48 thousand kilograms. In 2023, the volume was at 15.6 thousand kilograms, highlighting a downtrend heading into 2024.
The year-on-year variation indicates a gradual reduction in the import volume:
- 2024 to 2025: -4.21%
- 2025 to 2026: -4.4%
- 2026 to 2027: -4.46%
- 2027 to 2028: -4.59%
The Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028 demonstrates an average annual decline of approximately -4.42% in the import volume.
Future trends to watch for:
- Potential shifts in global nickel supply and pricing.
- Changes in domestic production capabilities in Australia.
- Innovation in material efficiency and alternative materials.
- Impact of environmental regulations and trade policies on import activities.
