A recent report published by Infinium Global Research on the nickel market provides in-depth analysis of segments and sub-segments in the global as well as regional nickel market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional nickel market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global nickel market. According to the report, the global nickel market is projected to grow at a CAGR of 5.00% over the forecast period of 2019-2025.
In recent decades, nickel has attracted significant attention in EV batteries in electric cars. Global nickel demand is estimated at around 2.7 million tons in 2019. Of that, about two-thirds is intended for stainless steel mills, mostly in China. Data from the International Nickel Study Group shows the nickel market deficit at 46,000 tons in 2016, 115,000 tons in 2017 and 127,000 tons last year. The bigger players started acquiring niche nickel companies in a bid to quickly establish their presence in the sector. Nickel is generally sold for use as a refined metal (powder, briquet, cathode, etc.) or ferronickel. Around 64% of nickel goes in the Western World which is used to the manufacturing of stainless steel and another 12% consume in the nonferrous alloys or superalloys. The aerospace industry is the largest consumer of nickel-base superalloys. Discs, turbine blades and many other parts of jet engines and other aircraft are fabricated by superalloys.
The nickel market is driven by the rising growth of nickel-based aerospace industry and the growing hybrid vehicle market is also influencing the nickel market. Moreover, increasing China's steel industry is also expected to drive the nickel market. However, the slowdown in the stainless steel market is anticipated to impede the growth of the global nickel market. Nonetheless, the rising use of production of electric cars in China and other region is estimated to create a new opportunity for the global nickel market.
On the basis of region, the global nickel market is bifurcated into North America, Europe, Asia-Pacific, the Middle East, and Africa, and Latin America. The Asia-Pacific dominates the global nickel market over the forecast period. The growth of this region is attributed owing to rapid demand from China for stainless steel as well as EV battery production. Asia-Pacific region is anticipated to grow at the highest CAGR during the forecast period owing to the rising demand for stainless steel. China is a major consumer for the global nickel market. The steel production has enlarged rapidly in China in recent years, the demand for consumption of nickel is also rising at a substantially there. This demand cannot be met from chinese nickel deposits, as a result of which China is one of the largest importers of nickel. China is expected to remain the dominating producer at over 60% of stainless steel production, environmental, cost pressures and cheaper imports were likely to restrain its future growth. This is benefitting Indonesia, particularly which is becoming the “new force” in the Asia-Pacific in the stainless steel market and would emerge over 2018 as the region’s largest stainless steel exporter.
The report on global nickel market covers segments such as type, and application. On the basis of type, the sub-markets include nickeliferous limonite smelting, and garnierite smelting. On the basis of application, the sub-markets include stainless steel, alloys, plating, casting, batteries, and other applications.
The report provides profiles of the companies in the market such as Norilsk Nickel, Vale, BHP Billiton, Glencore Xstrata, Jinchuan Group, Anglo American, Cunico Corp., Eramet, Pacific Metal Company, and Sherritt International Corporation.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of nickel market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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