Report Update: Apr 1, 2024

World - Unwrought Nickel - Market Analysis, Forecast, Size, Trends And Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Nickel Commodity Price

The price of nickel is one of the significant economic indicators of the global commodity market. Nickel is a versatile metal commonly used in various industries, including stainless steel production, batteries, electrical appliances, and automotive manufacturing. The fluctuations in nickel commodity prices can impact international trade, investments, and economic growth. Let's delve into the factors influencing nickel prices and some key trends in the market.

Supply and Demand

Like any commodity, the price of nickel is primarily driven by supply and demand dynamics. When demand for nickel exceeds the available supply, prices tend to rise, and vice versa. Several factors influence supply and demand, including industrial production, economic growth, and market speculation.

In recent years, the demand for nickel has been increasing due to the growing popularity of electric vehicles (EVs) and the need for efficient energy storage. Nickel is a crucial component in EV batteries, and the shift towards cleaner transportation has significantly boosted demand. Additionally, emerging economies like China and India are increasing their infrastructure investments, further driving nickel demand.

On the supply side, nickel production is concentrated in a few countries, primarily Indonesia, the Philippines, and Russia. Political instability, labor strikes, and regulatory changes in these countries can disrupt the supply chain and affect prices. For example, Indonesia, the world's largest nickel ore producer, implemented an export ban in 2020 to boost its domestic processing industry, leading to supply disruptions.

Trade Policies and Tariffs

Trade policies and tariffs can also impact nickel prices. Governments often impose tariffs or export restrictions to protect domestic industries or discourage excessive exports. These measures can create supply shortages in the global market, leading to price spikes.

Furthermore, geopolitical tensions and trade disputes between major nickel-producing countries like Indonesia and the Philippines can trigger market uncertainty. For instance, trade tensions between the United States and China have disrupted global supply chains and created market volatility. Any changes in trade policies or political landscape can affect the nickel market.

Macroeconomic Factors and Currency Exchange Rates

Macroeconomic factors, such as GDP growth, inflation rates, and interest rates, also influence nickel prices. During periods of strong economic growth, industrial production increases, leading to higher demand for base metals like nickel. Conversely, economic downturns can reduce demand and exert downward pressure on prices.

Moreover, fluctuations in currency exchange rates can impact nickel prices. Nickel is primarily traded in US dollars, so any depreciation or appreciation of major currencies against the dollar can affect the purchasing power of consumers and investors. Changes in currency exchange rates can influence international trade and indirectly impact the demand and price of nickel.

Environmental Regulations and Sustainability

Environmental regulations and sustainability concerns are increasingly influencing the nickel market. The demand for cleaner energy sources and stricter environmental standards are promoting the adoption of electric vehicles and renewable energy technologies. Nickel plays a vital role in these industries, driving demand.

However, the mining and processing of nickel ore can have significant environmental impacts, including deforestation, soil erosion, and water pollution. As a result, governments and organizations are imposing stricter regulations on nickel mining practices. These regulations can affect supply chains and create supply shortages or price fluctuations.

Key Trends in the Nickel Market

In recent years, the price of nickel has exhibited significant volatility. From 2019 to early 2020, nickel prices experienced a rally due to Indonesia's export ban and increasing EV demand. However, the COVID-19 pandemic and subsequent economic slowdown led to a temporary decline in prices.

As economies recover and EV adoption continues, nickel prices are projected to rise in the coming years. Industry experts anticipate a significant deficit in nickel supply by 2025, primarily driven by the EV revolution. The shift towards renewable energy and decarbonization efforts further contribute to the positive outlook for nickel prices.

However, market uncertainties remain. Factors such as regulatory changes, geopolitical tensions, and technological advancements can affect the future trajectory of nickel prices. It is essential for investors, industry players, and policymakers to closely monitor these developments to make informed decisions and navigate the nickel commodity market.

This report provides an in-depth analysis of the global nickel market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24451100 - Nickel, unwrought
Prodcom 24451110 -
Prodcom 24451120 -

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

Global market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Global production, split by region and country
Global trade (exports and imports)
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023