With 7.3% CAGR, Nickel Market to Reach USD 59.14 Billion by 2028 | Fortune Business Insights™

The global nickel market covered major segments by Application (Stainless Steel, Special Steels, Batteries, Electroplating, Alloys, and Others), and regional forecast.

Pune, India, April 17, 2023 (GLOBE NEWSWIRE) — The global nickel market size is predicted to reach USD 59.14 billion by 2028 and exhibit a CAGR of 7.3% during the forecast period. Fortune Business Insights™ has presented this information in its report titled, “Nickel Market, 2021-2028

The nickel market is a global commodity market that involves the production, trading, and consumption of nickel, a silvery-white metal that is widely used in various industrial applications. Nickel is an essential component in the production of stainless steel, which is used in the construction, automotive, and manufacturing industries. It is also used in the production of other alloys, such as superalloys, which are used in aerospace and power generation industries.

The nickel market is highly dependent on the demand for stainless steel, which is the primary end-use market for nickel. The demand for stainless steel is driven by factors such as economic growth, urbanization, and infrastructure development. The nickel market is also influenced by supply-side factors such as production levels, mining and refining costs, and government policies.

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List of Key Players Profiled in the Nickel Market Report:

• BHP (Australia)
• Eramet (France)
• Norilsk Nickel (Russia)
• Sumitomo Metal Mining Co., Ltd. (Japan)
• Glencore (Switzerland)
• Sherritt International Corporation (Canada)
• Vale (Brazil)
• Jinchuan Group International Resources Co. Ltd (Hong Kong)
• Terrafame Ltd. (Finland)

Report Scope & Segmentation:

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Segments-

The nickel market can be segmented in several ways based on various factors such as end-use industry, and region. Here are some of the common segmentation categories:

End-Use Industry: The nickel market can be segmented based on the end-use industry, such as stainless steel, alloy, plating, and batteries. The stainless steel segment is the largest end-use market for nickel, accounting for the majority of the global demand for nickel. The alloy segment includes the production of superalloys used in the aerospace and power generation industries. The plating segment includes the production of nickel-plated products for decorative and corrosion-resistant applications. The battery segment includes the production of nickel-containing batteries, such as nickel-cadmium and nickel-metal hydride batteries.

Form: The nickel market can also be segmented based on the form of nickel, such as nickel ore, pig iron, matte, and oxide. Nickel ore is the raw material used to produce nickel, while nickel pig iron and nickel matte are intermediate products used in the production of nickel alloys. Nickel oxide is used as a raw material for the production of nickel metal and other nickel-containing products.

Region: The nickel market can also be segmented based on regions, such as Asia-Pacific, North America, Europe, South America, and Middle East & Africa. Asia-Pacific is the largest market for nickel, driven by the growing demand for stainless steel and infrastructure development in countries such as China and India.

Other segmentation categories could include production method, grade, and application, depending on the specific context of the market analysis.

Report Coverage-

A comprehensive nickel market report should cover various aspects of the nickel market, including:

Overview: An overview of the nickel market, including its size, growth rate, and key drivers and challenges.

Segmentation: A detailed segmentation analysis of the nickel market based on various factors such as end-use industry, form, and region.

Production and Consumption Trends: An analysis of the global production and consumption trends of nickel, including an overview of the major producers and consumers.

Trade Analysis: An analysis of the global trade of nickel, including an overview of the major exporting and importing countries and an analysis of the trade balance.

Competitive Landscape: An analysis of the competitive landscape of the nickel market, including an overview of the major players, their market share, and their strategic initiatives.

Forecast: A market forecast for the nickel market based on historical trends, current market conditions, and future growth drivers.

Key Industry Players: A profile of the key players in the nickel market, including their business overview, financial performance, and recent developments.

Regulatory Environment: An analysis of the regulatory environment for the nickel market, including an overview of the major regulations and policies that affect the market.

Overall, a comprehensive nickel market report should provide insights into the current state and future outlook of the nickel market, including key trends, challenges, and opportunities.

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Drivers & Restraints-

The nickel market is influenced by several drivers and restraints that impact the demand and supply of nickel. Here are some of the major drivers and restraints of the nickel market:

Drivers:

Increasing demand for stainless steel: Stainless steel is the largest end-use market for nickel, accounting for the majority of the global demand. The growing demand for stainless steel in various industries, such as construction, automotive, and manufacturing, is driving the demand for nickel.

Infrastructure development: The demand for nickel is also driven by infrastructure development projects, such as highways, bridges, and airports. As economies grow, there is an increasing need for infrastructure development, which drives the demand for stainless steel and, in turn, nickel.

Growing demand for electric vehicles: The demand for electric vehicles is increasing worldwide, and nickel is a critical component in the production of batteries used in electric vehicles. As the demand for electric vehicles grows, the demand for nickel is expected to increase.

Supply-side constraints: The nickel market is also impacted by supply-side constraints such as production levels, mining and refining costs, and government policies. The supply of nickel can be affected by issues such as labor strikes, environmental regulations, and natural disasters.

Restraints:

Price volatility: The price of nickel is subject to volatility due to market speculation, geopolitical events, and supply-demand imbalances. Price volatility can create uncertainty for producers and consumers of nickel, which can affect investment decisions and long-term planning.

Environmental concerns: The production of nickel can have significant environmental impacts, such as soil and water pollution, deforestation, and greenhouse gas emissions. Increasing environmental concerns can lead to stricter regulations and higher costs for nickel producers.

Substitution: Nickel can be substituted by other metals, such as manganese and cobalt, in certain applications. The availability of substitute materials can reduce the demand for nickel and impact its market growth.

Recycling: The recycling of nickel can provide a source of secondary supply and reduce the demand for primary production. However, the availability and cost of recycling technologies can affect the competitiveness of recycled nickel compared to primary nickel.

Regional Insights-

The global nickel market is influenced by several regional factors, including supply and demand, production capacity, government regulations, and economic conditions. Here are some regional insights into the nickel market:

Asia-Pacific: The Asia-Pacific region is the largest consumer and producer of nickel, global nickel consumption. The region’s demand for nickel is primarily driven by China, which is the world’s largest consumer of nickel. The demand for nickel in the region is expected to grow further due to the increasing industrialization and infrastructure development in countries like India, Indonesia, and Vietnam.

Europe: Europe is a major producer and consumer of nickel, with the stainless steel industry being the primary driver of demand. The European Union is the second-largest producer of stainless steel after China, which contributes to the region’s nickel demand. The demand for nickel in the region is expected to grow at a moderate pace due to the ongoing transition towards green energy and electric vehicles.

North America: The North American nickel market is driven by the stainless steel industry and the growing demand for electric vehicles. The United States is the largest consumer of nickel in the region, and its demand is expected to increase with the development of electric vehicle infrastructure and the adoption of green energy.

Middle East and Africa: The Middle East and Africa region are minor players in the global nickel market, with limited production and consumption. However, the region’s demand for nickel is expected to grow in the future due to the increasing infrastructure development and urbanization in countries like Saudi Arabia and South Africa.

Competitive Landscape-

Vale Vale is the world’s largest producer of nickel, with operations in Brazil, Canada, and New Caledonia. The company’s competitive strategy focuses on expanding its production capacity, reducing costs, and investing in sustainable mining practices & BHP, Anglo American plc, and Eramet are among the market’s leading producers. These businesses are involved in product development, capacity expansion, acquisitions, and market collaborations. Anglo American is a mining firm that deals in Ni, diamonds, platinum, copper, and iron ore. Codemin mine produces around 9,000 tonnes of Ni per year for the domestic market.

Overall, the competitive landscape of the nickel market is shaped by the producers’ ability to expand their production capacity, reduce costs, and invest in sustainable mining practices to meet the growing demand for nickel from various industries.

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Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Market Trends in the Global Market
  • Key Developments: Mergers, Acquisition, Partnership, etc. .
  • Latest Technological Advancement
  • Insights on Regulatory Scenario
  • Porters Five Forces Analysis
• Qualitative Insights Impact of COVID 19 on Global Nickel Market
  • Supply Chain Challenges
  • Steps taken by Government/Companies to overcome this impact
  • Potential opportunities due to COVID-19 outbreak
• Global Nickel Market Analysis, Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • By Application
    • Stainless Steel
    • Special Steels
    • Batteries
    • Electroplating
    • Alloys
    • Others
  • By Region
    • North America
    • Europe
    • Asia Pacific
    • South America
    • Middle East & Africa
• North America Nickel Market Analysis, Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • By Application
    • Stainless Steel
    • Special Steels
    • Batteries
    • Electroplating
    • Alloys
    • Others
  • By Country
    • U.S.
      • By Application
        • Stainless Steel
        • Special Steels
        • Batteries
        • Electroplating
        • Alloys
        • Others
    • Canada
      • By Application
        • Stainless Steel
        • Special Steels
        • Batteries
        • Electroplating
        • Alloys
        • Others

 TOC Continued…!

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