Nickel is a lustrous, silvery-white metal which belongs to the transition metals and is hard and ductile. It has high melting point, relatively low thermal and electrical conductivities, high resistance to corrosion and oxidation, excellent strength and toughness at elevated temperatures and is capable of being magnetized. It is attractive metal with a slight golden tinge and very durable as pure metal and alloys with many other metals.
Nickel is widely used in a number of products for consumer, industrial, military, transport/aerospace, marine and architectural applications. The biggest use of nickel is as an alloying metal along with chromium and other metals in the production of stainless and heat-resisting steels to increase the tensil strength, toughness and elastic limit of product. Stainless steel is mostly used in industry and construction but also for products in the home such as pots, pans, sinks etc. A major share of nickel is used in the production of stainless steel to meet special industry requirements for corrosion and heat resistance and also to facilitate a clean and hygienic surface for food and other processing.
Nickel is the most important metal in lithium-ion battery cathodes for electric car industry. It is widely used for battery production that guarantees optimum performance for battery module.
The global nickel market is expected to grow in future due to growth in energy storage system, increasing electric vehicles penetration, increasing demand for traditional market, increasing demand for stainless and favorable pricing. Key trends in this market include government support, new projects and technological advancements in batteries. However, there are some factors which can hinder the growth of nickel market which includes mine closures, underinvestment and deficit expansion.
The report “Global Nickel Market with Focus on EV Batteries: Industry Analysis & Outlook (2018-2022)” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering China, Indonesia and the U.S. region along with the global market. The report profiles the key players in the market including Nornickel, Vale SA, BHP Billiton Ltd. and Jinchuan Group Limited.