Mon, 18 Oct 2021

According to the latest report by IMARC Group, titled "Nickel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global nickel market size reached US$ 12.8 Billion in 2020. Nickel (Ni) is a durable, lustrous, and silvery-white chemical element extracted from nickel sulfide and garnierite mines. It has high electro-magnetic and malleable properties that help in the production of non-ferrous alloys and stainless steel. Nickel and its derivatives are widely used in the disposal and water purification process as they offer water-resistance and require low maintenance. At present, they are widely being utilized across the globe on account of their high electrical and thermal conductivity.

Nickel Market

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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Nickel Market Trends:

A significant increase in the utilization of corrosion-resistant alloys in the oil and gas industry represents one of the primary factors positively influencing the market. Apart from this, the escalating demand for high-density nickel-based batteries to replace rechargeable batteries and assist the power requirements of the growing population is strengthening the growth of the market. Nickel is also employed in solar panels and wind turbines for generating electricity. Furthermore, the rising demand for stainless steel products, including kitchen skins, saucepans, forks, and spoons, is contributing to the global market growth. Besides this, technological advancements in the production of nickel via green mining procedures and the boosting demand for electric vehicles are stimulating the market growth. Looking forward, IMARC Group expects the global nickel market to continue its steady growth during the forecast period (2021-2026).

Market Summary:

  • Based on the product type, class II nickel holds the largest market share, followed by class I nickel.
  • On the basis of the application, the market has been segregated into stainless and alloy steel, non-ferrous alloys and superalloys, electroplating, casting, batteries, and others. At present, stainless and alloy steel hold the largest market share.
  • 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. The transportation and defense sector accounts for the majority of the total market share.
  • Region-wise, the market has been classified into the 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 (the United Arab Emirates, Turkey, Saudi Arabia, Iran, and others). Amongst these, Asia Pacific enjoys the leading position in the market.
  • The competitive landscape of the market has been examined, with some of the key players being Anglo American Plc, BHP Group Limited, Cunico Corporation, Eramet Group, Glencore Plc, IGO Limited, Jinchuan Group International Resources Co. Ltd., Norilsk Nickel, Pacific Metal Company, Queensland Nickel Group, Sherritt International Corporation, Sumitomo Corporation, Terraframe Ltd., Vale S.A. and Votorantim SA.

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Key highlights of the report:

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Market Trends
  • Market Drivers and Success Factors
  • The Impact of COVID-19 on the Global Market
  • Value Chain Analysis
  • Structure of the Global Market
  • 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC's information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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