Key Market Indicators
Thai Nickel Export is projected to reach approximately $14 million by 2028, up from around $13 million in 2023. This reflects a compound annual growth rate (CAGR) of 1.5%. Since 1994, Thailand's nickel supply has seen a modest annual increase of 0.2%. In 2023, Thailand ranked 34th in global nickel exports, with Slovenia surpassing it by achieving roughly $13 million in exports. The leading countries in this ranking were Canada, Russia, and Malaysia, occupying the second, third, and fourth positions, respectively. On the import front, Thailand is expected to see its nickel imports rise to about $112 million by 2028 from approximately $104 million in 2023. This marks an average annual growth rate of 1.2%. Thai demand for nickel has consistently grown at the same rate since 1993.
