To know the impact of COVID-19 On Nickel Market Size 2020: Worldwide Industry Overview, Supply Demand and Shortage, Trends, Demand, Overview, Forecast 2025 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Nickel Market report is segmented on the basis of application, end-user and region. On the basis of application, the Nickel market is divided into stainless steel, alloys, plating, casting, batteries and others. On the basis of end-user, the Nickel market is divided into engineering sector, building and construction, metal goods, transport, electronic goods and others
Nickel Market is valued at USD 30.03 Billion in 2018 and expected to reach USD 40.71 Billion by 2025 with CAGR of 5.21% over the forecast period.
Market Analysis of Nickel-
Nickel is a metal element with symbol Ni and atomic number 28. The metal is silvery whitish with slight golden tinge. It belongs to transition metals, is hard and ductile. Pure powdered nickel shows a substantial chemical activity, but large piece of nickel are slow to react with air under standard conditions due to an oxide layer forms on surface and stops further corrosion. Pure nickel is found in earth’s crust in tiny amounts, generally in ultramafic rocks and in the interior of large nickel-iron meteorites which are not exposed to oxygen. Commonly nickel is extracted from iron ore limonite, which often contains 1–2% nickel. Other important ore minerals include pentlandite and a mixture of Ni-rich natural silicates known as garnierite. Mainly Nickel is found in Sudbury region in Canada, New Caledonia in the Pacific, and Norilsk in Russia.
The regions covered in this Nickel Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Nickel is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some major key players for Global Nickel Market are Norilsk Nickel, Vale, BHP, Jinchuan Group International Resources Co. Ltd, Glencore, Xstrata, Sherritt International Corp, Eramet SA, Sumitomo Metal Mining, Anglo Americanand others.
Use of Nickel in Various Applications is Driving the Global Nickel Market.
Nickel is used as alloying agent for some particular precious metals and used in fire assay as a collector of platinum group elements. Because of its resistant nature from corrosion, it is used as a substitute for decorative silver. Approximately 68% of world production of nickel is used in stainless steel. Additionally, 10% is used for nickel-based and copper-based alloys, 7% for alloy steels, 3% in foundries, 9% in plating and 4% in other applications, which comprises the fast-growing battery sector. Nickel is used in many specific industrial and consumer products such as stainless steel, alnico magnets, coinage especially in USA and Canada, electric guitar strings, microphone capsules, plating on plumbing fixtures and in special alloys such as permalloy, elnivar and invar. All these applications of nickel are driving the demand of this metal. About 27% of all nickel production is used for engineering sector, 10% for building and construction, 14% for tubular products, 20% for metal goods, 14% for transport, 11% for electronic goods, and 5% for other sector.
Asia Pacific is Expected to Dominate the Global Nickel Market
Asia Pacific is expected to dominate the global nickel market as due to high consumption rate of nickel and presence of large stainless steel manufacturing companies and battery manufacturers in this region. Additionally, large ore concentration in Asia Pacific region is also driving the market growth. For example, in 2018, Indonesia has produced 5, 60,000 tonne of nickel where as in Philippines 3, 40,000 tonne of nickel was produced. Furthermore, growing consumption level of Nickel in China and India is expected to boost the Nickel market in this region. Other than China, the Europe is the largest producer of stainless steel, which is about 35% of world stainless steel production, for which European market has high demand of nickel and Finland is the highest producer of Nickel within Europe with 46,000 tonne of nickel production in 2018. Other countries such as Brazil, Canada, Russia, South Africa, Cuba etc. are some of the major nickel producing countries due to presence of nickel ore.
Key Benefits for Market Report–
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
Market Segmentation: –
- Stainless Steel
- Engineering sector
- Building and construction
- Metal goods
- Electronic goods
By Regional & Country Analysis:
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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Nickel Market Share and Growth to 2025 and Analysis 2019-2025
Nickel Market Size 2020: Worldwide Industry Overview, Supply Demand and Shortage, Trends, Demand, Overview, Forecast 2025
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