Middle East: Nickel Market 2022

Nickel Market Size in the Middle East

The Middle Eastern nickel market soared to $X in 2021, surging by X% against the previous year. The market value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Nickel Production in the Middle East

In value terms, nickel production expanded to $X in 2021 estimated in export price. Overall, production enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Production By Country in the Middle East

The country with the largest volume of nickel production was the United Arab Emirates (X tons), accounting for X% of total volume. Moreover, nickel production in the United Arab Emirates exceeded the figures recorded by the second-largest producer, Saudi Arabia (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume in the United Arab Emirates totaled -X%. The remaining producing countries recorded the following average annual rates of production growth: Saudi Arabia (+X% per year) and Israel (+X% per year).

Nickel Exports

Exports in the Middle East

In 2021, shipments abroad of nickel increased by X% to X tons, rising for the fourth year in a row after three years of decline. In general, exports showed a significant increase. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, nickel exports rose modestly to $X in 2021. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

In 2021, the United Arab Emirates (X tons) was the major exporter of nickel, achieving X% of total exports. It was distantly followed by Turkey (X tons), generating a X% share of total exports. Israel (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the nickel exports, with a CAGR of +X% from 2012 to 2021. At the same time, Turkey (+X%) and Israel (+X%) displayed positive paces of growth. The United Arab Emirates (+X p.p.) significantly strengthened its position in terms of the total exports, while Turkey and Israel saw its share reduced by -X% and -X% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) remains the largest nickel supplier in the Middle East, comprising X% of total exports. The second position in the ranking was occupied by Turkey ($X), with a X% share of total exports.

In the United Arab Emirates, nickel exports 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: Turkey (+X% per year) and Israel (+X% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2017 an increase of X%. The level of export peaked in 2021 and is expected to retain growth in the near future.

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

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

Nickel Imports

Imports in the Middle East

In 2021, supplies from abroad of nickel increased by X% to X tons, rising for the third year in a row after two years of decline. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2018 indices. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, nickel imports soared to $X in 2021. Total imports indicated a tangible expansion 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. Based on 2021 figures, imports increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

Turkey was the largest importer of nickel in the Middle East, with the volume of imports recording X tons, which was near X% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons) and Iran (X tons), together achieving a X% share of total imports. Israel (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to nickel imports into Turkey stood at +X%. At the same time, the United Arab Emirates (+X%), Iran (+X%) and Israel (+X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +X% from 2012-2021. While the share of the United Arab Emirates (+X p.p.) and Iran (+X p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Israel (-X p.p.) and Turkey (-X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) constitutes the largest market for imported nickel in the Middle East, comprising X% of total imports. The second position in the ranking was occupied by the United Arab Emirates ($X), with an X% share of total imports. It was followed by Iran, with a X% share.

From 2012 to 2021, the average annual growth rate of value in Turkey totaled +X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+X% per year) and Iran (+X% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Israel ($X per ton) and Turkey ($X per ton), while Iran ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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