New York, According to a new market research report published by Global Insight Services “Nickel Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Nickel is a chemical element with the symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel belongs to the transition metals and is hard and ductile. Pure nickel, powdered to maximize the reactive surface area, shows a significant chemical activity, but larger pieces are slow to react with air under standard conditions because an oxide layer forms on the surface and prevents further corrosion.
Nickel is found in the Earth’s crust only in chemically combined form, save for small deposits found in alluvial deposits. The rest is found in various meteorites and in the dust of the solar system. Much of the Earth’s nickel is thought to have come from meteorites that have fallen to Earth over the eons. Nickel is still used today in some alloys, and as a coating on other metals, to prevent corrosion.
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Key Trends
There are three key trends in nickel technology:
1. The use of nickel in batteries is increasing. This is due to the fact that nickel has a very high energy density, meaning that it can store more energy than other metals.
2. Nickel is being used more and more in fuel cells. This is because nickel is very efficient in converting chemical energy into electrical energy.
3. Nickel is being used more and more in catalysts. This is because nickel is very good at promoting chemical reactions.
Key Drivers
There are a number of key drivers of the nickel market, which can be broadly grouped into three main categories:
1) Macroeconomic factors: Global economic growth is a key driver of demand for nickel, as the metal is used in a wide range of industries including construction, transportation, and manufacturing.
2) Supply and demand dynamics: The balance between global nickel supply and demand is also a key driver of prices, with tight supply conditions often leading to price spikes.
3) Geopolitical factors: geopolitical factors can also have a significant impact on the nickel market, with disruptions to supply often leading to price spikes.
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Key Market Segments
The nickel market bifurcated on the basis of application, and region. On the basis of application, it is segmented into stainless steel, alloys, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Market Players
The nickel market report includes players such as Anglo American, BHP, Cunico Corp., Eramet, Independence Group NL, Terrafame, Vale, Votorantim, Glencore, and Norilsk Nickel.
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Reasons to buy Nickel Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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