Industry Background:
Nickel is an element which is available in two forms in the earth’s crust i.e. lateritic ores and sulfidic. The latter form of nickel is processed or smelted to form refined nickel. Nickel has a high melting point, resistance against corrosion and good ductility, and has recyclability. The advantages of refined nickel is widely used in end-use industries from metallurgy to electronics, automotive and healthcare. Further, the upsurge in demand for stainless steel in the infrastructure, machinery, and automotive industries globally is driving the refined nickel market.This growth is primarily driven by Increased Consumption of Refined Nickel by Stainless Steel Industry
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | Tons |
Value Unit | USD (Million) |
Key Companies in Study | Norilsk Nickel (Russia), Vale (Brazil), BHP (Australia), Jinchuan Group International Resources Co. Ltd (China), Sumitomo Metal Mining Co. (Japan), Anglo American (United States), Ambatovy (United States), Sherritt International Corporation (Canada), Minara Resources (Australia) and Glencore (Switzerland) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Chemicals sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Norilsk Nickel (Russia), Vale (Brazil), BHP (Australia), Jinchuan Group International Resources Co. Ltd (China), Sumitomo Metal Mining Co. (Japan), Anglo American (United States), Ambatovy (United States), Sherritt International Corporation (Canada), Minara Resources (Australia) and Glencore (Switzerland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 5th July 2022, Vladimir Potanin, a Russian businessman, has stated that he is willing to discuss a possible merger between his mining company Nornickel and aluminium producer Rusal, which would strengthen their defences against any potential Western sanctions.
On 25th April 2022, Nornickel, the world's largest producer of palladium and high-grade nickel, as well as a significant producer of platinum and copper, has announced preliminary consolidated production results for the first quarter of 2022.Because of the increasing demand for the production rate, the level of competition has also risen significantly. Global production work has also increased dramatically as a result of the advancement of new technology and advanced manufacturing products. According to this, the majority of the new industrial players have entered the refined nickel market in order to increase production. Most of the new and key refined nickel market players are continuously increasing their production due to the increase in advanced production facilities.
Regulatory Insights:
Regulations have been published that specify the maximum nickel concentrations permissible in air in plants that use that metal in any form. Because these limits must be met wherever industrial nickel plating is performed, they are summarised below, as is the official guidance on how to comply with them. (It is important to note that the limits cited are the current legal requirements for the UK; different values may be required in other countries.)
Refined Nickel Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increased Consumption of Refined Nickel by Stainless Steel Industry
- Rapid Industrialization and Urbanization in Emerging Economies
- Rising use of Nickel in Manufacturing Batteries for Electric Vehicles
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Influencing Trends | - High Demand for Stainless Steel among End-users
- Growing use of Nickel in the Healthcare Industry
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Restraints | - Fluctuating Raw Material Prices may hamper the Market Growth
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Road Blocks / Challenges | - Reduction in Demand for Stainless Steel in Developed Countries
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Gaps & Opportunities | - Increasing Import of Refined Nickel in Emerging Economies like China
- Rising Construction Activities
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Refined Nickel Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the medium utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Refined Nickel Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, SEC filings of Refined Nickel players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Refined Nickel Study Sheds Light on
The Refined Nickel Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Refined Nickel industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Refined Nickel industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.