The global nickel market is currently witnessing stable growth. 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. Looking forward, IMARC Group expects the market to register a CAGR of 3.5% during 2020-2025.
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 2020-2025. Our report has categorized the market based on region, product type, application, and end-use industry.
Breakup by Product Type:
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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.
Key Questions Answered in This Report:
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