The data indicates that from 2013 to 2023, Nickel Domestic Material Consumption in Germany generally showed a declining trend with some fluctuations. In 2023, the consumption stood at 42.1 thousand metric tons. The most notable drops occurred in 2014, 2016, and 2020 with significant year-on-year decreases of 22.96%, 40.47%, and 41.1% respectively. However, there were also years of recovery, particularly in 2015, 2017, 2021, and 2022 with year-on-year increases of 14.56%, 11.92%, 69.29%, and 29.71%. Over the last five years, the average annual growth rate has been 4.17% as of 2023.
Going forward, forecasts suggest a moderate decline at a 5-year average annual rate of -2.28% leading up to 2028, resulting in a projected decrease of 10.9% in Nickel consumption. We can expect fluctuations but the overall trend points towards a slight reduction in use.
Future trends to watch for include:
- Fluctuations in Nickel prices and availability
- Innovations in alternative materials or technologies that could substitute Nickel
- Regulatory changes and environmental considerations that may impact consumption patterns
- Shifts in industrial demand, particularly from sectors such as electric vehicles and renewable energy
