The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
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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