According to IMARC Group’s latest report, titled “Nickel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global nickel market size reached US$ 31.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 43.8 Billion by 2027, exhibiting a growth rate (CAGR) of 5.57% during 2022-2027.
Nickel (Ni) is a silvery-white, resilient, and lustrous naturally occurring ductile metallic element. It is derived from nickel sulfide, pentlandite, millerite, pyrrhotite, and garnierite mines or ores through reductive roasting procedures. Nickel exhibits exceptional physical, chemical, electromagnetic, and malleable characteristics; therefore, it is used to produce nonferrous alloys, notably chromium and other metals, that aid in manufacturing stainless and heat-resistant steels. These nickel-containing materials and their compounds are further used in desalination facilities to convert saltwater into freshwater when combined with copper. Apart from this, it offers low maintenance requirements, water resistance capabilities, and simple fabrication, thus ensuring durable, contamination-free drinking water.
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Nickel Market Trends:
The global nickel market is primarily driven by the increasing demand for stainless steel alloys across various industries and the growing consumer expenditure on Ni-based goods such as batteries. Additionally, the rising need for lightweight vehicles and the shifting consumer inclination towards electric vehicles (EVs) to mitigate greenhouse emissions are facilitating the market growth.
Moreover, the rising need for corrosion-resistant alloys in the oil and gas sector, improved mining, smelting, and refining technologies, and ongoing exploration activities are favoring the market growth. Furthermore, the extensive usage of nickel in wind turbines and solar panels for power generation, maritime, architectural, and construction applications are propelling the market growth. Besides this, the escalating employment of nickel to manufacture stainless steel products, including spoons, forks, saucepans, and kitchen skins, is supporting the market growth.
Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined with some of the key players.
- Anglo American plc
- Cunico Corporation
- Independence Group
- Jinchuan Group International Resources Co. Ltd
- Pacific Metal Company
- Queensland Nickel
- Sherritt International
- Sumitomo Corporation
- Terrafame Ltd.
- Votorantim Group
Key Market Segmentation:
The report has categorized the market based on product type, application, and end-use industry.
Breakup by Product Type:
- Class I Products
- Class II Products
Breakup by Application:
- Stainless Steel and Alloy Steel
- Non-ferrous Alloys and Superalloys
Breakup by End-Use Industry:
- Transportation & Defense
- Fabricated Metal Products
- Electrical & Electronics
- Consumer Durables
- Industrial Machinery
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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