Nickel Market in the United Arab Emirates
Market Overview
The nickel market in the United Arab Emirates skyrocketed to $
in , rising 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, consumption posted a resilient expansion. Over the period under review, the market attained the peak level in and is likely to continue growth in years to come.
In value terms, nickel production fell to $ in estimated in export price. Overall, production, however, posted prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of %. Over the period under review, production attained the peak level at $ in 2019; however, from to , production failed to regain momentum.
in , rising 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, consumption posted a resilient expansion. Over the period under review, the market attained the peak level in and is likely to continue growth in years to come.In value terms, nickel production fell to $
in estimated in export price. Overall, production, however, posted prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of %. Over the period under review, production attained the peak level at $ in 2019; however, from to , production failed to regain momentum.Consumption
In , nickel consumption in the United Arab Emirates surged to tons, increasing by % on figures. In general, consumption saw a buoyant increase. Over the period under review, consumption reached the peak volume at tons in ; however, from to , consumption stood at a somewhat lower figure.
The size of the nickel market in the United Arab Emirates soared 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). Over the period under review, consumption continues to indicate a resilient expansion. Nickel consumption peaked in and is likely to continue growth in the immediate term.
, nickel consumption in the United Arab Emirates surged to tons, increasing by % on figures. In general, consumption saw a buoyant increase. Over the period under review, consumption reached the peak volume at tons in ; however, from to , consumption stood at a somewhat lower figure.The size of the nickel market in the United Arab Emirates soared 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). Over the period under review, consumption continues to indicate a resilient expansion. Nickel consumption peaked in and is likely to continue growth in the immediate term.Market Forecast
Driven by increasing demand for nickel (unwrought) in the United Arab Emirates, the market is expected to continue an upward consumption trend over the next eight-year period. 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
Driven by a growing demand, the share of imports in total supply in the United Arab Emirates increased significantly over the last fifteen years (from % to %).
% to %).Trade Balance
The United Arab Emirates remains a net importer of nickel; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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