In 2023, the import of nickel oxide sinters and intermediate nickel products to Canada stood at approximately 18.21 million kilograms. Starting from 2024, a declining trend is forecasted with imports expected to decrease to 17.766 million kilograms. This downward trend is projected to continue until 2028 when imports are anticipated to be around 16.026 million kilograms. The year-on-year variations suggest a consistent decrease, with a 2.5% decline from 2024 to 2025, a 2.5% decline from 2025 to 2026, a 2.5% decline from 2026 to 2027, and a 2.6% decline from 2027 to 2028. The overall Compound Annual Growth Rate (CAGR) over this five-year period is estimated at -2.5%.
- 2024: 17.766 million kilograms (-2.5% YoY)
- 2025: 17.318 million kilograms (-2.5% YoY)
- 2026: 16.879 million kilograms (-2.5% YoY)
- 2027: 16.448 million kilograms (-2.5% YoY)
- 2028: 16.026 million kilograms (-2.6% YoY)
Future trends to watch for include fluctuations in global nickel prices, advancements in nickel production technologies, and changes in Canada's industrial demand for nickel oxide sinters. Additionally, potential environmental regulations and trade policies could impact import volumes.
