Nickel Market Analysis: Segments, Drivers, Distribution Channels, and Growth Factors Forecast to 2024-2031 | Glencore, Vale SA, Eramet SA, Sherritt International Corp.

Global Nickel Market reached US$ 33.6 billion in 2022 and is expected to reach US$ 47.2 billion by 2031, growing with a CAGR of 5.5% during the forecast period 2024-2031.

Nickel Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Nickel is a silvery-white, corrosion-resistant metal with high strength and conductivity, commonly used in stainless steel, batteries, and alloys. It plays a crucial role in manufacturing rechargeable batteries, including those for electric vehicles, as well as in aerospace, electronics, and coin production. Nickel's resistance to extreme temperatures and oxidation makes it valuable in industrial applications, while its recyclability enhances its sustainability.

List of the Key Players in the Nickel Market:

Glencore, Vale SA, Eramet SA, Sherritt International Corp., Sumitomo Metal Mining Co., Anglo American, MMC Norilsk Nickel, Jinchuan Group Ltd., BHP Billiton Ltd and Pacific Metal Company.

Industry Development:

In August 2022, NMDC Ltd., an Indian public sector company specializing in metal exploration, announced plans to explore lithium, nickel, and cobalt mining opportunities overseas to meet India's growing demand. The state-owned iron ore firm aims to begin mining in Australia, where it holds a 90.02% stake in Legacy Iron Ore Ltd.

In October 2021, Renault Group, a French multinational automaker, signed a Memorandum of Understanding with Terrafame, a global producer of intermediate nickel and cobalt products, for a future supply of nickel sulfate. The agreement secures an annual supply for Renault Group, supporting up to 15 GWh of battery production capacity.

In July 2021, BHP, an Australian multinational mining company, signed a nickel supply agreement with Tesla Inc. The deal ensures Tesla receives nickel from BHP's Nickel West facility in Western Australia, supporting its sustainable energy initiatives.

Growth Forecast Projected:

The Global Nickel Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Nickel Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Nickel Market:

By Source: Pentlandite, Laterite
By Mining Method: Underground, Surface
By Class: Nickel Class I, Nickel Class II
By Application: Stainless Steel, Alloys, Plating, Foundry, Batteries, Others
By End-User: Metal Goods, Electric and Electronics, Engineering, Building & Construction, Transportation, Others

Regional Analysis for Nickel Market:

The regional analysis of the Nickel Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Nickel market?

➠ Who are the leading manufacturers in the global Nickel industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Nickel industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Nickel market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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