Global Nickel Market 2022

Nickel Market Size

The global nickel market skyrocketed to $X in 2021, picking up by X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked in 2021 and is likely to continue growth in the immediate term.

Nickel Production

In value terms, nickel production expanded significantly to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, global production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of in 2021 were China (X tons), Indonesia (X tons) and Russia (X tons), together accounting for X% of global production.

From 2012 to 2021, the biggest increases were in Indonesia (with a CAGR of +X%), while production for the other global leaders experienced more modest paces of growth.

Nickel Exports

Exports

In 2021, global nickel exports shrank to X tons, with a decrease of -X% against 2020. Over the period under review, exports continue to indicate a pronounced descent. The pace of growth was the most pronounced in 2013 with an increase of X%. The global exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, nickel exports rose to $X in 2021. Overall, exports showed a pronounced decline. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. The global exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Australia (X tons), the Netherlands (X tons), Canada (X tons) and Norway (X tons), together accounting for X% of total export. Russia (X tons) took the next position in the ranking, followed by Finland (X tons). All these countries together occupied near X% share of total exports. The UK (X tons), Madagascar (X tons), Belgium (X tons), Japan (X tons), Germany (X tons) and France (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Madagascar (with a CAGR of +X%), while the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Canada ($X) and Australia ($X) constituted the countries with the highest levels of exports in 2021, together accounting for X% of global exports. These countries were followed by Norway, Russia, the UK, Finland, Belgium, Japan, Madagascar, Germany and France, which together accounted for a further X, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average nickel export price stood at $X per ton in 2021, jumping by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the UK ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+X%), while the other global leaders experienced more modest paces of growth.

Nickel Imports

Imports

In 2021, supplies from abroad of nickel increased by X% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Over the period under review, global imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, nickel imports skyrocketed to $X in 2021. Over the period under review, total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the largest importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by the Netherlands (X tons), the United States (X tons), Germany (X tons) and Japan (X tons), together generating a X% share of total imports. The following importers - India (X tons), Belgium (X tons), Italy (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Sweden (X tons) and Taiwan (Chinese) (X tons) - together made up X% of total imports.

Imports into China increased at an average annual rate of +X% from 2012 to 2021. At the same time, the Netherlands (+X%), South Korea (+X%), Taiwan (Chinese) (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2012-2021. Japan, France, India, Sweden and Italy experienced a relatively flat trend pattern. By contrast, the United States (-X%), Singapore (-X%) and Germany (-X%) illustrated a downward trend over the same period. While the share of China (+X p.p.) and the Netherlands (+X p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Singapore (-X p.p.), Germany (-X p.p.) and the United States (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported nickel worldwide, comprising X% of global imports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of global imports. It was followed by the United States, with a X% share.

In China, nickel imports increased at an average annual rate of +X% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Netherlands (+X% per year) and the United States (-X% per year).

Import Prices by Country

In 2021, the average nickel import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Global import price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per ton) and Japan ($X per ton), while South Korea ($X per ton) and Singapore ($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 (+X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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