Precision Business Insights has published a report on the global nickel market, estimating its value at USD 41,481 Million in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
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The nickel market refers to the global industry involved in the extraction, production, and distribution of nickel—a silvery-white, lustrous metal known for its corrosion resistance and versatility. Nickel is widely used in various applications, including stainless steel production, batteries (especially for electric vehicles), alloy manufacturing, and electroplating. The market encompasses activities like mining (both underground and surface), refining, and the sale of nickel products to industries such as construction, automotive, and electronics.
Drivers:
1)Rising Demand for Stainless Steel: Stainless steel production accounts for a significant portion of nickel consumption, driven by its use in construction, transportation, and industrial applications.
2) Growth of Electric Vehicles (EVs): The increasing adoption of EVs has boosted demand for nickel, as it is a critical component in lithium-ion batteries, enhancing energy density and vehicle range.
The global nickel market segmentation:
1) By Application: Stainless Steel, Alloys, Electroplating, Plating, Casting, Batteries, Other
2) By End-User Industry: Automotive, Fabricated Metal Products, Electrical & Electronics, Chemical, Petrochemical, Construction, Consumer Durables, Industrial Machinery, Others
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Regional Overview:
The report also examines the current concerns and their Future Effects on the nickel market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the nickel market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.
North America (U.S., Canada)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
The competitive landscape is dominated by major players like anglo american plc, bhp, eramet, independence group nl, norilsk nickel, sumitomo metal mining co., ltd., glencore, vale, pacific metal company, queensland nickel sales, sherritt international corporation, jinchuan group international resources co. ltd, terrafame ltd., cunico corp
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