GCC: Nickel Powder Market 2024

Nickel Powder Market Size in GCC

In 2023, the GCC nickel powder market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption, however, showed a prominent expansion. Over the period under review, the market hit record highs at $X in 2022, and then dropped in the following year.

Nickel Powder Production in GCC

In value terms, nickel powder production declined slightly to $X in 2023 estimated in export price. In general, production recorded a moderate increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2023, production growth remained at a lower figure.

Nickel Powder Exports

Exports in GCC

In 2023, approx. X tons of nickel powders and flakes were exported in GCC; increasing by X% compared with the year before. Over the period under review, exports posted a tangible increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, nickel powder exports skyrocketed to $X in 2023. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2023. Saudi Arabia (X kg) held a minor share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Saudi Arabia (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. While the share of the United Arab Emirates (X p.p.) and Saudi Arabia (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest nickel powder supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates stood at X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price saw a notable expansion. The pace of growth was the most pronounced in 2015 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2023, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Nickel Powder Imports

Imports in GCC

In 2023, supplies from abroad of nickel powders and flakes decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Over the period under review, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2022, and then shrank in the following year.

In value terms, nickel powder imports reached $X in 2023. Overall, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The level of import peaked in 2023 and is likely to see gradual growth in the immediate term.

Imports by Country

The United Arab Emirates dominates imports structure, reaching X tons, which was approx. X% of total imports in 2023. It was distantly followed by Qatar (X tons), committing an X% share of total imports. The following importers - Kuwait (X kg) and Oman (X kg) - each accounted for a X% share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Kuwait (X%), Oman (X%) and Qatar (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Qatar increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported nickel powders and flakes in GCC, comprising X% of total imports. The second position in the ranking was held by Qatar ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

In the United Arab Emirates, nickel powder imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, with an increase of X% against the previous year. Import price indicated slight growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, nickel powder import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the import price increased by X%. The level of import peaked in 2023 and is expected to retain growth in years to come.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform