Nickel recycling is one of the major trends being witnessed in the global primary nickel market 2018-2022. Nickel is a high-value, non-ferrous metal like copper, aluminum, and zinc. Due to its high value as a commodity, efforts focused on efficient recovery and recycling of the metal are in place. The extensive use of the metal in stainless steel and nickel alloys increases the recyclability factor of nickel. The enhanced durability of nickel-based materials implies that such materials can be successfully converted into high-quality alternatives. The recycling of nickel is a prospective solution to meet the growing demand for the metal in various end-user segments.
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According to Technavio analysts, one of the key factors contributing to the growth of the global primary nickel market is the increasing production of stainless steel:
Global primary nickel market: Increasing production of stainless steel
The increasing production of stainless steel is expected to drive the growth of the global primary nickel market. The factors contributing to the increased production of stainless steel include the use of stainless steel bars in the construction sector, escalating rate of industrialization, and rising focus on R&D. Increased investments in the building and infrastructure segment, growing demand for automobiles, high recyclability of stainless steel, and increasing popularity of food-grade stainless steel contribute to the increased demand for primary nickel.
According to a senior analyst at Technavio for research on specialty chemicals, “Nickel imparts strength, temperature resistance, and corrosion-resistance to stainless steel. Therefore, the significant demand for stainless steel is likely to positively impact the growth of the primary nickel market during the forecast period.”
Global primary nickel market: Market segmentation and analysis
This global primary nickel market research report provides market segmentation by end-user (engineering; transport; metal goods; tubular products; electrical and electronics; architecture, building, and construction; and others), by application (stainless steel and non-stainless), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
APAC held the largest share of the market in 2017, accounting for over 75%, followed by EMEA and the Americas respectively. However, the market share of APAC projected to witness a small decline while the other two regions will see a small increase in their market shares over the forecast period.
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Five Forces Analysis
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