This market research report includes a detailed segmentation of the nickel market by end user (transportation and defense, fabricated metal products, electrical equipment, and construction sector) and by application (stainless steels and alloy steel, non-ferrous alloys and superalloys, electroplating). It outlines the market shares for key regions such as the Americas, Asia, Europe, and ROW. The key vendors analyzed in this report are BHP Billiton, Glencore, Norilsk Nickel, PT Antam, and Vale.
Technavio has released its new market research report, global nickel market, which is expected to grow at a CAGR of around 5% between 2015 and 2019. The high demand for nickel in the transportation sector is driving the growth of this market. Nickel is used in the development of urban transportation such as sky buses, monorails, metro rail, and buses. Asia is the largest consumer of nickel, accounting for around 69% of the total market share. The rapid industrialization and development occurring in this region, especially in China and India, is driving the demand for industrial machinery where nickel is used.
“The global demand for nickel is expected to increase during the forecast period especially in the infrastructure and industrial sectors. Nickel-based equipment are a necessity in industries especially power plants and construction projects which has increased the demand for nickel in the emerging economies which are focusing on industrialization processes. Demand for nickel is one the rise in electronic equipment and household appliances such as air conditioners and other allied electronic equipment such as televisions and personal computers,” says Sriram Mohan, Lead Analyst, Chemicals & Materials, Technavio Research
The transportation and defense sector is the largest consumer of nickel, and occupy 39% of the total market share. The usage of nickel in this sector is expected to grow at a rate of 5% during the forecast period. Nickel is used in many cars, buses, and trucks in the form of stainless steel. Large tankers of stainless steel and iron-nickel alloys are used to minimize fuel consumption, reduce carbon emissions, and reduce cargo losses.
The leading vendors in the global nickel market include BHP Billiton, Glencore, Norilsk Nickel, PT Antam, and Vale. The market has an oligopolistic market structure. The market is dominated by a few leading companies who have acquired mines and cater to the global demand. Most of the nickel mines are located in Canada, Russia, Indonesia, the Philippines, Burma, and Western Australia.
A more detailed analysis is available in the Technavio report, Global Nickel Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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