Nickel Market Value, Futures, Analysis and Outlook by 2027 | Product Type- Class I, Class II
The latest report by IMARC Group, titled “Nickel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global nickel market size reached a value of US$ 31.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 43.8 Billion by 2027, exhibiting a growth rate (CAGR) of 5.57% during 2022-2027.
Outlook
Nickel is a silvery-white, hard, tough metal produced using mining, smelting, and refining methods. It is most commonly used to manufacture stainless steel and other alloys, such as brass and bronze. Nickel has excellent corrosion resistance and can withstand high temperatures, making it an ideal material for the chemical and petrochemical industries. As compared to other metals, such as copper and zinc, it is highly resistant to corrosion and oxidation, has a high melting point, and can endure extreme temperatures, due to which it can be used in harsh environments. Currently, it is available in a variety of forms, including pure nickel, nickel alloys, and nickel-plated materials.
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Nickel Market Growth Factor Analysis:
The global nickel market is expected to experience significant growth due to the rising demand for corrosion-resistant alloys in the oil and gas industry. Additionally, the development of high-density nickel-based batteries as a corrosion-resistant alternative to lithium-ion batteries is contributing to the market growth. Apart from this, the rising demand for stainless steel products, such as spoons, forks, kitchen sinks, and saucepans, and the increasing product application in the marine, architecture, and construction industries are providing an impetus to the market growth. Other factors, such as rapid technological advancements in production processes and the rising popularity of green mining procedures, are fueling the market growth.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Top Companies:
The competitive landscape of the industry has also been examined with some of the key players.
- Anglo American plc
- BHP
- Cunico Corporation
- Eramet
- Glencore
- Independence Group
- Jinchuan Group International Resources Co. Ltd
- Nornickel
- Pacific Metal Company
- Queensland Nickel
- Sherritt International
- Sumitomo Corporation
- Terrafame Ltd.
- Vale
- Votorantim Group
Key Market Segmentation:
The report has categorized the market based on product type, application, and end-use industry.
Breakup by Product Type:
- Class I Products
- Class II Products
Breakup by Application:
- Stainless Steel and Alloy Steel
- Non-ferrous Alloys and Superalloys
- Electroplating
- Casting
- Batteries
- Others
Breakup by End-Use Industry:
- Transportation & Defense
- Fabricated Metal Products
- Electrical & Electronics
- Chemical
- Petrochemical
- Construction
- Consumer Durables
- Industrial Machinery
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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