Nickel Market Outlook
Nickel is a durable, silvery-white, and lustrous metal extracted from garnierite mines and nickel sulfide. They can be categorized into class I and class II products. These nickel variants have high electro-magnetic and malleable properties, which help to cast iron products and manufacture non-ferrous alloys and stainless steel. They are mixed with copper and used in desalination plants to convert seawater into freshwater.
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 and its derivatives are even utilized in water purification and disposal applications as they need low maintenance and provide adequate water resistance to the products. Consequently, they find extensive utilization across numerous sectors, such as transportation and defense, fabricated metal products, electrical and electronics, chemical, construction, petrochemical, consumer durables, industrial machinery, etc.
Request for a PDF sample of this report: https://www.imarcgroup.com/nickel-market/requestsample
Note: 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.
Nickel Market Trends:
The increasing demand for corrosion-resistant alloys in the oil and gas segment is primarily driving the nickel market. In addition to this, the launch of high-density nickel-based batteries that effectively meet the energy requirements of the growing population is acting as another significant growth-inducing factor. Apart from this, the development of electric vehicles and the escalating usage of the metal in wind turbines and solar panels to generate electricity are also positively influencing the global market.
Moreover, the shifting preferences toward stainless steel products, including forks, spoons, saucepans, kitchen skins, etc., are further stimulating the market growth. Besides this, the elevating employment of nickel0based products in marine, construction, and architectural industries and the rising technological advancements in the production of the metal through green mining processes while integrating the principles of hydrometallurgy are expected to propel the Nickel market over the forecasted period.
Buy This Report Now: https://www.imarcgroup.com/checkout?id=1843&method=1
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined with some of the key players.
- 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
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
- Electroplating
- Casting
- Batteries
- Others
Breakup by End-Use Industry:
- Transportation & Defense
- Fabricated Metal Products
- Electrical & Electronics
- Chemical
- Petrochemical
- Construction
- Consumer Durables
- Industrial Machinery
- Others
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)
Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1843&flag=C
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.
About Us:
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 pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
30 N Gould St Ste R
Sheridan, WY 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas: - +1 631 791 1145 | Africa and Europe: - +44-702-409-7331 | Asia: +91-120-433-0800
