From 2013 to 2023, the import of unwrought nickel to the UK exhibited fluctuating trends in volume. In 2023, the import volume stood at 12.302 million kilograms, marking a decrease of 2.67% from the previous year. Over the last five years, the compound annual growth rate (CAGR) was -3.16%, indicating a general downward trend in imports.
In the forecasted period from 2024 to 2028, imports are expected to continue this downward trajectory, with the volume declining consistently each year. The CAGR over this five-year forecast period is projected to be -2.45%, with an overall decline in volume of 11.66% by 2028.
Future Trends to Watch For:
- Global market demand for nickel and its potential substitutes
- UK manufacturing sector's evolving requirements for raw materials
- Any changes in trade regulations or tariffs affecting nickel imports
- Technological advancements in recycling and reusing nickel
