Nickel Market in Saudi Arabia
Market Overview
The Saudi nickel market rose sharply to $
in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a moderate increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. Nickel consumption peaked at $ in ; however, from to , consumption remained at a lower figure.
In value terms, nickel production rose markedly to $ in estimated in export price. Over the period under review, the total production indicated a temperate expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against indices. The most prominent rate of growth was recorded in 2014 with an increase of %. Nickel production peaked at $ in ; however, from to , production failed to regain momentum.
in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a moderate increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. Nickel consumption peaked at $ in ; however, from to , consumption remained at a lower figure.In value terms, nickel production rose markedly to $
in estimated in export price. Over the period under review, the total production indicated a temperate expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against indices. The most prominent rate of growth was recorded in 2014 with an increase of %. Nickel production peaked at $ in ; however, from to , production failed to regain momentum.Consumption
In , approx. tons of nickel (unwrought) were consumed in Saudi Arabia; growing by % on . Over the period under review, the total consumption indicated measured growth from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. Nickel consumption peaked at tons in ; however, from to , consumption stood at a somewhat lower figure.
The revenue of the nickel market in Saudi Arabia expanded sharply to $ in , picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a tangible increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. Over the period under review, the market attained the peak level at $ in ; however, from to , consumption remained at a lower figure.
, approx. tons of nickel (unwrought) were consumed in Saudi Arabia; growing by % on . Over the period under review, the total consumption indicated measured growth from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. Nickel consumption peaked at tons in ; however, from to , consumption stood at a somewhat lower figure.The revenue of the nickel market in Saudi Arabia expanded sharply to $
in , picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a tangible increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. Over the period under review, the market attained the peak level at $ in ; however, from to , consumption remained at a lower figure.Market Forecast
Driven by increasing demand for nickel (unwrought) in Saudi Arabia, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Over the period under review, imports of nickel in Saudi Arabia were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for nickel.
Trade Balance
Saudi Arabia remains a net exporter of nickel; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $.
. In , there was a significant trade surplus of tons, which was equal to $.
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