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Nickel Market - Growth, Trends, And Forecast (2019 - 2024)

Published on: Aug 2019 | From USD $4250 | Published By: MORDOR INTELLIGENCE | Number Of Pages: 105

Market Overview

The market for nickel is expected to expand at a CAGR of more than 5% during the forecast period of 2019 Đ 2024. Major factor driving the market studied is rising demand for corrosion resistant alloys in the oil & gas industry.

- Volatility in the supply and demand scenario is expected to hinder the growth of the market studied.
- Growing popularity of electric vehicles is likely to act as an opportunity in the future.
- Asia-Pacific dominated the market across the globe with the largest consumption.

Key Market Trends

Rising Demand of Stainless Steal

- Nickel plays a crucial role in the manufacture of stainless steel. It is one of the major commercial grades of alloys used in stainless steel production. Nickel alloying holds for almost two-thirds of the stainless steel production process across the world.
- Also, one of the key advantages of nickel in stainless steel is in stabilizing the austenitic structure of steel at room temperature. In general, 8% of nickel is present in the commonly used grade of stainless steel.
- As of 2018, stainless steel production increased about 6% from the previous year. This ratio has increased in recent years due to rising Chinese stainless steel production, which uses a high proportion of primary nickel units.
- As a result, Chinese stainless steel mills consume more than half of the primary nickel. Other major stainless steel producing regions are smaller than China and fulfill a greater share of their nickel requirements from stainless steel scrap than from primary sources.
- Such positive growth of stainless steel is likely to increase the demand for nickel in the future.

Asia-Pacific to Dominate the Market

- Asia-Pacific holds the major share in the consumption of nickel. This is primarily due to the presence of large stainless steel manufacturing companies and battery manufacturers.
- The major nickel ore concentrations in Philippines, New Caledonia, Australia, Indonesia, and China are instrumental to making the region the largest producer of nickel.
- Furthermore, the increasing consumption level of nickel in China is also expected to boost the market in the region as it alone accounts for the highest share of the worldŐs nickel demand.
- China is the global leader in the electric car market, with the sales of new electric vehicles being four times higher than that of the United States.
- According to EV volumes, the sales of new electric vehicles in China is estimated to reach more than 920 000 units in 2019, with a majority of domestic OEMs dominating the market.
- This robust growth is boosting the demand for the consumption of nickel in the region during the forecast period.

Competitive Landscape

The nickel market is fragmented. The major companies include Norilsk Nickel, Vale, BHP, Jinchuan Group International Resources Co. Ltd., Glencore, etc.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Demand for Corrosion Resistant Alloys in the Oil & Gas Industry
4.1.2 Others
4.2 Restraints
4.2.1 Volatility in the Supply Demand Scenario
4.2.2 Environmental Considerations During Mining Activities
4.3 Industry Value-Chain Analysis
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Stainless Steel
5.1.2 Alloys
5.1.3 Plating
5.1.4 Casting
5.1.5 Batteries
5.1.6 Others
5.2 Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.2.4 Rest of North America
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 United Kingdom
5.2.3.3 Italy
5.2.3.4 France
5.2.3.5 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle East & Africa
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Anglo American
6.4.2 BHP
6.4.3 Cunico Corp.
6.4.4 eramet
6.4.5 INDEPENDENCE GROUP NL
6.4.6 Jinchuan Group International Resources Co. Ltd
6.4.7 Norilsk Nickel
6.4.8 Pacific Metal Company
6.4.9 QUEENSLAND NICKEL SALES
6.4.10 Sherritt International Corporation
6.4.11 Sumitomo Metal Mining Co. Ltd
6.4.12 Terrafame
6.4.13 Vale
6.4.14 Votorantim
6.4.15 Glencore

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Popularity of Electric Vehicles
7.2 Emerging Application in Medical Industry

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

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