In 2023, the domestic material consumption of nickel in Austria stood at 12.19 thousand metric tons. Over the past decade, the consumption has shown considerable volatility with significant peaks and troughs. Notably, the years 2017 and 2018 saw sharp increases, while 2019 and 2021 experienced substantial declines. The year 2022 rebounded with a marked increase, and the relatively stable growth in 2023 reflected a modest uptick of 2.46% year-on-year. The average annual growth rate (CAGR) over the next five years is projected to be 1.77%, culminating in an expected 2028 consumption level of 13.63 thousand metric tons, which represents a total forecasted growth rate of 9.17% from the 2023 figure.
Future trends to watch for include fluctuations in global nickel supply and demand, advancements in recycling technologies, changes in industrial applications of nickel, and shifts in Austrian economic activities. These factors could significantly impact the stability and growth of nickel consumption in Austria.
