Watch Demo

Madagascar Nickel Industry Outlook 2024 - 2028

See how Madagascar Nickel performed compared to key markets such as the United States, Canada and Russia.

Key Market Indicators

**Malagasy Nickel Export Expected to Surpass $580 Million by 2028** Antananarivo — Malagasy nickel exports are projected to hit approximately $589 million by 2028, up from around $501 million in 2023. This marks an average annual growth rate of 2.5%. Since 1999, the nation's nickel supply has seen a consistent year-on-year increase of 3.6%. In the global ranking of nickel exporters for 2023, Madagascar secured the 16th position. The Philippines outpaced Madagascar with exports valued at $501 million. Leading the pack were Canada, Russia, and Malaysia, occupying the second, third, and fourth spots respectively. **Nickel Import Growth to Reach $1.3 Million** On the import front, Madagascar's nickel imports are anticipated to grow to approximately $1.3 million by 2028, up from nearly $1.25 million in 2023. This represents an average annual growth rate of 1%. Since 1995, the country's demand for nickel has surged at an impressive yearly rate of 11.6%. These trends highlight Madagascar's expanding role in the global nickel market, both as an exporter and an importer.

Marketing Banner

Madagascar Nickel Market Data and Forecasts

How much will Madagascar Nickel Market grow to 2028?

Forecast: Export of Nickel and Articles Thereof from Madagascar
Forecast: Export of Unwrought Nickel from Madagascar
Forecast: Export of Unwrought Nickel from Madagascar
Forecast: Export of Unwrought Nickel from Madagascar
More in Nickel Industry for 2028