MENA: Nickel Market 2025

Nickel Market Size in MENA

The MENA's nickel market reached $X in 2022, approximately mirroring the previous year. The total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.0% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Nickel Production in MENA

In value terms, nickel production reached $X in 2022 estimated in export price. The total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 -1.1% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 34% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Nickel Exports

Exports in MENA

In 2022, approx. X tons of nickel (unwrought) were exported in MENA; falling by -21.4% on the previous year. Overall, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 146% against the previous year. As a result, the exports attained the peak of X tons, and then declined remarkably in the following year.

In value terms, nickel exports fell to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2021 with an increase of 234%. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

The United Arab Emirates (X tons) and Turkey (X tons) dominates exports structure, together creating 93% of total exports. Israel (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +25.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest nickel supplying countries in MENA were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), with a combined 97% share of total exports.

Among the main exporting countries, Turkey, with a CAGR of +26.7%, 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 MENA stood at $X per ton in 2022, rising by 9.3% against the previous year. Export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nickel export price increased by +48.7% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 36%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+5.6%), while the other leaders experienced mixed trends in the export price figures.

Nickel Imports

Imports in MENA

After two years of growth, overseas purchases of nickel (unwrought) decreased by -1% to X tons in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% 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 +89.8% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 74% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, nickel imports rose markedly to $X in 2022. Overall, imports, however, showed a perceptible expansion. The pace of growth was the most pronounced in 2020 with an increase of 77% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons) and Turkey (X tons) prevails in imports structure, together committing 90% of total imports. It was distantly followed by Iran (X tons), committing a 6.2% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Iran (with a CAGR of +12.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest nickel importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), with a combined 96% share of total imports.

Among the main importing countries, Iran, with a CAGR of +11.3%, recorded the highest rates of growth with regard to the value of imports, 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 MENA stood at $X per ton in 2022, surging by 14% against the previous year. Over the period under review, the import price, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2018 when the import price increased by 17% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform