Asia-Pacific: Nickel Market 2024

Nickel Market Size in Asia-Pacific

The Asia-Pacific nickel market fell to $X in 2022, dropping by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then contracted in the following year.

Nickel Production in Asia-Pacific

In value terms, nickel production declined modestly to $X in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Nickel Exports

Exports in Asia-Pacific

Nickel exports declined dramatically to X tons in 2022, falling by X% against 2021. In general, exports continue to indicate a slight slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, nickel exports contracted notably to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, China (X tons), Singapore (X tons), Malaysia (X tons) and Japan (X tons) was the largest exporter of unwrought nickel in Asia-Pacific, creating X% of total export. It was distantly followed by Australia (X tons), achieving a X% share of total exports. The following exporters - India (X tons) and South Korea (X tons) - each reached an X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Singapore ($X) and Japan ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports. Malaysia, India, South Korea and Australia lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Malaysia, with a CAGR of X%, saw 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

The export price in Asia-Pacific stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price saw a slight increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Nickel Imports

Imports in Asia-Pacific

Nickel imports declined remarkably to X tons in 2022, waning by X% on the previous year. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, nickel imports totaled $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China was the largest importer of unwrought nickel in Asia-Pacific, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by Japan (X tons), South Korea (X tons), India (X tons) and Taiwan (Chinese) (X tons), together creating a X% share of total imports. The following importers - Malaysia (X tons) and Singapore (X tons) - each amounted to a X% share of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of unwrought nickel. At the same time, South Korea (X%), Japan (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, India (X%), Malaysia (X%) and Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, Japan, Taiwan (Chinese) and China increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported unwrought nickel in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with an X% share.

In China, nickel imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price recorded a tangible increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and South Korea ($X per ton), while Malaysia ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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