EU: Nickel Market 2023

Nickel Market Size in the EU

In 2021, the EU nickel market decreased by -1.8% to $X, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Nickel Production in the EU

In value terms, nickel production dropped notably to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 27%. Over the period under review, production hit record highs at $X in 2020, and then shrank dramatically in the following year.

Nickel Exports

Exports in the EU

In 2021, the amount of nickel (unwrought) exported in the European Union stood at X tons, increasing by 3.2% on the previous year. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +80.5% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 75%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, nickel exports soared to $X in 2021. Overall, exports enjoyed pronounced growth. The growth pace was the most rapid in 2020 when exports increased by 51% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Exports by Country

The Netherlands represented the key exporter of nickel (unwrought) in the European Union, with the volume of exports resulting at X tons, which was near 57% of total exports in 2021. Finland (X tons) ranks second in terms of the total exports with a 15% share, followed by Belgium (12%), Germany (7.4%) and France (5.7%).

The Netherlands was also the fastest-growing in terms of the nickel (unwrought) exports, with a CAGR of +10.9% from 2012 to 2021. At the same time, Belgium (+5.6%) and Germany (+4.8%) displayed positive paces of growth. By contrast, France (-1.6%) and Finland (-1.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Netherlands increased by +22 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest nickel supplier in the European Union, comprising 59% of total exports. The second position in the ranking was held by Finland ($X), with a 15% share of total exports. It was followed by Belgium, with a 12% share.

In the Netherlands, nickel exports expanded at an average annual rate of +11.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Finland (-1.9% per year) and Belgium (+5.4% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, picking up by 29% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the Netherlands ($X per ton) and Finland ($X per ton), while France ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.6%), while the other leaders experienced a decline in the export price figures.

Nickel Imports

Imports in the EU

In 2021, the amount of nickel (unwrought) imported in the European Union rose sharply to X tons, with an increase of 7.9% against 2020 figures. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2020 with an increase of 21% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, nickel imports surged to $X in 2021. Total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +132.6% against 2016 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 42%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons) was the key importer of nickel (unwrought), achieving 34% of total imports. Germany (X tons) ranks second in terms of the total imports with an 18% share, followed by Belgium (10%), Italy (10%), France (8.7%), Sweden (5.4%) and Spain (4.6%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Netherlands (with a CAGR of +14.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest nickel importing markets in the European Union were the Netherlands ($X), Germany ($X) and Italy ($X), with a combined 63% share of total imports.

The Netherlands, with a CAGR of +14.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, rising by 30% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Germany ($X per ton) and Sweden ($X per ton), while Belgium ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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