Import of Nickel Sulphates to the UK has exhibited significant fluctuations over the past decade. Starting from 573.9 thousand kilograms in 2013, there have been sharp increases, particularly notable from 2015 to 2017, followed by some declines and stabilizations in subsequent years. By 2023, the import volume stood at 4249.1 thousand kilograms. Annual variations showed an increase of 4.08% from 2022 to 2023. The Compound Annual Growth Rate (CAGR) over the last five years indicates an average annual growth of 6.82%.
Future forecasts suggest a steady upward trend with imports projected to reach 5124.8 thousand kilograms by 2028. The forecasted 5-year CAGR stands at 2.92%, demonstrating moderate growth. This suggests a gradual but continuous increase in demand.
Future trends to watch for:
- Growth in the electric vehicle market, as nickel sulphate is a key component in battery production.
- Shifts in global trade policies and supply chain dynamics that could impact import volumes.
- Technological advancements and alternative battery materials potentially influencing nickel sulphate demand.
