Indonesia's Huge Opportunity: Nickel Market Predicted to Experience Rapid Growth Until 2050

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Adi Ahdiat 07/07/2022 10:20 WIB

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The IEA assesses that Indonesia's policies will significantly impact the global nickel supply chain, given its position as the world's largest nickel producer.

Nickel Sales Value Projection from Southeast Asia (2020-2050)

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Indonesia's Huge Opportunity: Nickel Market Predicted to Experience Rapid Growth Until 2050

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Nickel Sales Value Projection from Southeast Asia (2020-2050)

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Nickel is a mineral resource that is a strategic commodity in the global market.

The International Energy Agency (IEA) states that nickel is a crucial raw material for the electric vehicle battery industry and geothermal energy generation.

Global nickel demand is projected to continue increasing, in line with the strengthening trend of new and renewable energy (NRE).

"Demand for nickel for clean energy technologies will grow rapidly up to 20 times between 2020 and 2040," the IEA predicted in its *Southeast Asia Energy Outlook 2022* report.

The IEA considers this a significant opportunity for Southeast Asian countries, particularly Indonesia and the Philippines, which are the world's largest nickel producers.

"Indonesia itself contributes about half of global nickel growth. Therefore, the nickel supply chain is likely to be significantly affected by Indonesian policies," the IEA stated.

The IEA estimates that the sales value of nickel resources from Southeast Asia in 2020 reached only US$15.2 billion. This is projected to more than double to US$36.6 billion in 2030 and increase further to US$40.8 billion in 2050.

However, the IEA notes that Indonesia and the Philippines face several challenges in seizing this opportunity.

"The main challenge for these two countries is to develop their resources sustainably, given the numerous issues surrounding carbon emissions, waste disposal, land use, and the environmental impact of mining," the IEA explained.

"Addressing these issues is crucial to positioning Southeast Asia as a reliable and responsible nickel supplier," it continued.

Indonesia has implemented a ban on nickel ore exports since January 1, 2020. This ban was implemented along with the development of downstream industries, so that nickel resources can be processed domestically.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia's Huge Opportunity: Nickel Market Predicted to Experience Rapid Growth Until 2050

Indonesia's Huge Opportunity: Nickel Market Predicted to Experience Rapid Growth Until 2050

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Indonesia's Huge Opportunity: Nickel Market Predicted to Experience Rapid Growth Until 2050

Indonesia's Huge Opportunity: Nickel Market Predicted to Experience Rapid Growth Until 2050

Tags

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