A new market study, titled “Discover Global Nickel Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Nickel has been a very important element in creating multiple power-driven and structural driven products. As per the market reports, with the current usage and past results, the commodity value of Nickel is expected to rise from xx million US$ in 2018 to xx million US$ by the end of 2025. This gives us a fair picture whether it is suitable to invest in this commodity or not. As per the expected growth rate in the coming years, Nickel seems to be a good investment in the market.
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Key Players of Global Nickel Market =>
- Anglo American
- Independence Group
- Jinchuan Group International Resources
- Norilsk Nickel
- Pacific Metal
- Queensland Nickel
NIckel has been used globally as an alloying metal along with chromium and other metals to produce stainless and heat resistant steel. The industry uses it to increase the tensile strength, toughness and elastic limit of the product. It is most commonly used in Workplaces and constructions as Stainless Steel in form of pots, pans, and sinks. The Stainless Steel industry has been using Nickel as the primary component to reduce corrosion and increase heat resistance. It also helps to facilitate clean and hygienic surface for food and other processing.
Global use of Nickel has been increasing constantly, leading to higher demand and prices. Being categorized as a transition metal with properties of being hard and ductile, it has been an industry standard when using to create stainless steel or batteries. Powdered nickel has a high reactive surface with increased chemical activity, mostly used in making batteries for electrical components. Bigger pieces of Nickel are less reactive as they are covered with an oxide layer. Using it as a Cathode for batteries in large quantity has increased the demand for the metal. Since more electrical and power-driven products have been replacing fuel-driven products, the demand for batteries with longer life and compact size have increased.
The rise in the use of electric vehicles has contributed largely to the demand for Nickel in recent time. Since the demand and use of alternate fuel driven vehicle have increased, newer electrical vehicles are being launched in the market. The main component of an electric vehicle is its battery, which uses compressed Nickel for higher battery life, for longer driving time and compact and smaller size.
The research was conducted at a global scale to measure the requirement and supply of Nickel for industries, focusing mainly on North America, Europe, China, and Japan, as their demand is higher than the other countries. The report indicates a higher requirement in the coming future leading to increase in prices. The demand is also set to rise due to the properties of Nickel, making it suitable for use in various other industrial products.
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