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The global nickel market reached a volume of 2.5 Million Tons in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Nickel, denoted by Ni, is a durable, lustrous and silvery-white metal extracted from nickel sulfide and garnierite mines. It has high electro-magnetic and malleable properties, which aid in casting iron products and manufacturing stainless steel and non-ferrous alloys. Nickel and its derivatives are commonly used in water purification and disposal applications as they require low maintenance and offer water-resistance to the products. When mixed with copper, it is used in desalination plants for the conversion of seawater into freshwater.
The rising demand for corrosion-resistant alloys in the oil and gas industry is one of the key factors driving the growth of the market. Furthermore, the development of high-density nickel-based batteries to meet the power requirements of the growing population is also contributing to the market growth. These batteries serve as a heat- and corrosion-resistant alternative for rechargeable batteries made by using lithium-ion. The advent of electric vehicles is favoring the market growth further. Nickel is also used in wind turbines and solar panels for generating electricity. Furthermore, the rising demand for stainless steel products, including spoons, forks, saucepans, kitchen skins, is driving the product demand. Nickel-based products are also being used for various marine, architectural and construction applications. Other factors, such as technological advancements in the production of nickel through green mining procedures, while incorporating the principles of hydrometallurgy, are expected to drive the market in the upcoming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global nickel market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on product type, application and end-use industry.
Breakup by Product Type:
Breakup by Application:
Breakup by End-Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Anglo American plc, BHP, Cunico Corporation, Eramet, Glencore, Independence Group, Jinchuan Group International Resources Co. Ltd, Nornickel, Pacific Metal Company, Queensland Nickel, Sherritt International, Sumitomo Corporation, Terrafame Ltd., Vale, Votorantim Group, etc.
|Base Year of the Analysis||2020|
|Segment Coverage||Product Type, Application, End-Use Industry, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates|
|Companies Covered||Anglo American plc, BHP, Cunico Corporation, Eramet, Glencore, Independence Group, Jinchuan Group International Resources Co. Ltd, Nornickel, Pacific Metal Company, Queensland Nickel, Sherritt International, Sumitomo Corporation, Terrafame Ltd., Vale and Votorantim Group|
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Due to the surging cases of the coronavirus disease (COVID-19), there are several ongoing studies to find effective and efficient preventive tools of the infection. For instance, the research at the Galveston National Laboratory resulted that 99.8% of the COVID-19 virus is killed in a single pass through, which is made from nickel foam.
The global nickel market reached a volume of 2.5 Million Tons in 2020.
According to the estimates by IMARC Group, the global nickel market is expected to grow at a CAGR of around 5% during 2021-2026.
The growing popularity of electric vehicles (EVs), rising utilization of electricity and the increasing adoption of stainless-steel products are among the major factors bolstering the market growth.
The development of high-density nickel-based batteries and its increasing production through green mining procedures are acting as major trends in the market.
On the basis of the product type, the market has been bifurcated into class I and II products.
The market has been analyzed on the basis of the application into stainless steel and alloy steel, non-ferrous alloys and superalloys, electroplating, casting, batteries, and others.
Based on the end use industry, the market has been divided into transportation and defense, fabricated metal products, electrical and electronics, chemical, petrochemical, construction, consumer durables, industrial machinery, and others.
Region-wise, the market has been segmented into Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); North America (the United States and Canada); Latin America (Brazil, Mexico, Argentina, Columbia, Chile, Peru and others); and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and others).
Leading industry players are Anglo American plc, BHP, Cunico Corporation, Eramet Group, Glencore plc, Independence Group, Jinchuan Group International Resources Co. Ltd, PJSC MMC Norilsk Nickel, Pacific Metal Company, QN Group, Sherritt International Corporation, Sumitomo Corporation, Terrafame Ltd., Vale SA and Votorantim Group.
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