ASEAN: Nickel Powder Market 2024

Nickel Powder Market Size in ASEAN

In 2023, after two years of growth, there was significant decline in the ASEAN nickel powder market, when its value decreased by X% to $X. Overall, consumption enjoyed a notable expansion. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.

Nickel Powder Production in ASEAN

In value terms, nickel powder production dropped to $X in 2023 estimated in export price. In general, production, however, recorded buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2023, production failed to regain momentum.

Nickel Powder Exports

Exports in ASEAN

In 2023, the amount of nickel powders and flakes exported in ASEAN fell significantly to X tons, shrinking by X% compared with 2022 figures. In general, exports, however, recorded a buoyant increase. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2023, the growth of the exports remained at a lower figure.

In value terms, nickel powder exports skyrocketed to $X in 2023. Over the period under review, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, Malaysia (X tons) was the main exporter of nickel powders and flakes, making up X% of total exports. The Philippines (X tons) held the second position in the ranking, distantly followed by Singapore (X tons). All these countries together held approx. X% share of total exports. Thailand (X tons) followed a long way behind the leaders.

Exports from Malaysia increased at an average annual rate of X% from 2012 to 2023. At the same time, the Philippines (X%) and Thailand (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Singapore (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.), the Philippines (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Singapore (X p.p.) displayed negative dynamics.

In value terms, the Philippines ($X), Singapore ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

In terms of the main exporting countries, the Philippines, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the export price figures.

Nickel Powder Imports

Imports in ASEAN

In 2023, overseas purchases of nickel powders and flakes increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, imports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, nickel powder imports plummeted to $X in 2023. Over the period under review, imports, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Malaysia (X tons) was the key importer of nickel powders and flakes, creating X% of total imports. Thailand (X tons) ranks second in terms of the total imports with a X% share, followed by Singapore (X%) and the Philippines (X%). Vietnam (X tons) followed a long way behind the leaders.

Imports into Malaysia decreased at an average annual rate of X% from 2012 to 2023. At the same time, the Philippines (X%), Vietnam (X%) and Thailand (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Thailand, the Philippines and Vietnam increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest nickel powder importing markets in ASEAN were Thailand ($X), Singapore ($X) and the Philippines ($X), together comprising X% of total imports.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per ton, shrinking by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform