Nickel Market - Future, Scope, Trends
The global Nickel market is expected to witness steady growth at a CAGR of around 5%, in value terms, during the forecast period owing to the increasing demand from stainless steel industries. The ability of nickel to withstand extreme temperature conditions and impart strength to steel is propelling the demand for nickel in construction, transportation, and many other end-user industries globally. In addition to this, the rapid pace of industrialization in developing economic nations such as China and India is promoting the usage of nickel in the manufacturing of industrial machinery, iron-nickel alloy tankers, etc. to curb fuel consumption, reduce environmental impact, and lower cargo losses. Moreover, growing consumption by stainless steel and alloy manufacturers is expected to augment the demand for NCA and NCM Li-ion technology, consequently driving the global nickel market, considerably over the coming years. The global Nickel market is controlled by these majo...