Global Nickel Metal Market to Expand at 5.5% CAGR through 2028, Driven by Rising Demand in Steel, Aerospace, and Electroplating Industries

According to a new report from Dataintelo, the global nickel-metal market is anticipated to expand at a compound annual growth rate (𝐂𝐀𝐆𝐑) of 5.5% during the period of 2018-2028. This growth is largely driven by the escalating demand for nickel in various industries including steel, aerospace, electroplating, and the chemical sector. The report segments the global nickel-metal market into nickeliferous limonite smelting and garnierite smelting, with the former holding a dominating market share of more than 60%. Likewise, in terms of application, the steel industry leads the market with a share exceeding 50%.

It's also noteworthy to point out that the Asia Pacific region is projected to witness the quickest growth over the forecasted period. This market trend can be attributed to the rapid industrial expansion and growth seen in various end-user industries, particularly automotive and construction sectors. The increasing demand for these sectors is significantly contributing to the nickel-metal market's positive trajectory.

Nickel, an essential component in several industrial applications due to its resistance to corrosion and ability to withstand high temperatures, continues to be integral in different manufacturing processes. As the demand from end-user industries continues to grow, it's expected that the global nickel-metal market will benefit from these trends in the near future.

The in-depth analysis provided by Dataintelo provides industry players with crucial insights and an understanding of the market's dynamics, enabling them to make informed decisions and strategic plans aligning with the ongoing and expected industry trends

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://dataintelo.com/request-sample/230625

𝐓𝐡𝐢𝐬 𝐢𝐬 𝐨𝐧𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐜𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐬:

The nickel metal market has been segmented on the basis of𝐓𝐲𝐩𝐞
● Nickeliferous Limonite Smelting
● Garnierite Smelting

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
● Steel Industry
● Aerospace Industry
● Electroplating Industry
● Chemical Industry

𝐑𝐞𝐠𝐢𝐨𝐧
● Asia Pacific
● North America
● Latin America
● Europe
● Middle East & Africa

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
● MMC Norilsk Nickel
● Vale SA
● BHP Billiton
● Jinchuan Group
● Glencore
● Sherritt International Corp
● Eramet SA
● Sumitomo Metal Mining
● Anglo American
● Minara Resources



𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Nickel Metal Market is categorized into various segments based on the type of smelting, the application of the nickel, and the region. The types of smelting include Nickeliferous Limonite Smelting and Garnierite Smelting. These two types of smelting methods are specifically applied across the globe based on the availability of raw materials and infrastructure facilities. On the other hand, the use of nickel metal spread across various applications like Steel Industry, Aerospace Industry, Electroplating Industry, and Chemical Industry. These industries consume the nickel metal for their specific needs and applications. For instance, the aerospace industry primarily uses nickel for the manufacturing of aircraft engines since it can withstand high temperature and corrosive environments.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

In terms of geographical distribution, the Nickel Metal Market is broadly divided into five regions namely Asia Pacific, North America, Latin America, Europe, Middle East & Africa. The Asia Pacific, particularly China, is leading in nickel consumption owing to its vast steel industry. North America and Europe also hold significant shares in the market due to the presence of robust industries like aerospace and electroplating. Latin America and Middle East & Africa are also emerging as strong market players with growing industrialization and infrastructure development in these regions. The key players in the nickel metal market include MMC Norilsk Nickel, Vale SA, Jinchuan Group, Glencore, and others. These corporations have a significant influence on the market dynamics and trends

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://dataintelo.com/request-sample/230625

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

1. Rising Demand for Stainless Steel: Nickel is an essential component in the production of stainless steel. With the increasing demand for stainless steel in industries like construction, automotive, and household appliances, the nickel metal market is likely to experience a surge.

2. Demand from Battery Industry: Nickel is a key ingredient in the production of lithium-ion batteries. The growing electric vehicle market, use of portable devices, and energy storage systems are driving up the demand for these batteries, thus pushing the nickel metal market growth.

3. Rapid Urbanization and Industrialization: With more people moving into urban areas, there's a growing need for infrastructure, transportation and housing - all of which use materials made of or with nickel.

4. Aerospace and Defence: Nickel-based alloys are extensively used in the aerospace and defence sector due to their high resistance to heat and corrosion, making it another strong driver for the market.

Market 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:

1. Electric Vehicle Boom: With governments around the world setting targets to phase out combustion engine-powered vehicles, there is a growing market for electric vehicles (EVs), which rely on lithium-ion batteries that require nickel.

2. Renewable Energy: Nickel plays a significant part in energy transition. It is used in wind turbines, solar panels and energy storage. Therefore, the growth of the renewable energy sector is likely to bring formidable 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐟𝐨𝐫the nickel metal market.

3. Investment in Battery Technology: There is ongoing research and development in improving battery technologies, with the potential of significantly higher nickel content in future battery chemistries. This would create further demand for nickel.

4. Infrastructure Development in Emerging Economies: The surge in building and infrastructure development projects in emerging economies like India, China, and Brazil offers an attractive growth opportunity for the global nickel market

𝐘𝐨𝐮 𝐜𝐚𝐧 𝐝𝐢𝐫𝐞𝐜𝐭𝐥𝐲 𝐛𝐮𝐲 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐟𝐫𝐨𝐦: https://dataintelo.com/checkout/230625

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