Global Nickel Pellet Market to Reach New Heights by 2034: Comprehensive Size and Share Analysis

 

Demand for Nickel Pellets Significantly

The nickel pellet market is expected to grow from US$ 1,950.8 million in 2024 to US$ 3,473.3 million in 2034. Fact. MR’s extensive study shows that the market will expand at a growth rate of 5.9% from 2024 to 2034.

The nickel pellet market is gaining attraction as it serves several industries due to the fact that nickel is among the most versatile metals, especially in the making of high-performance materials. Nickel pellets are refined forms of nickel, most commonly used for the manufacture of alloys, in electroplating, and in the manufacture of stainless steel.

These pellets are produced by such processes as sulphide or laterite ore refinement; the final product is of high purity and optimum quality, thus being a very good input material for many industrial processes. One of the key growth factors in the nickel pellet market is the demand for stainless steel, accounting for the majority of share in consumption of nickel globally.

 The production of stainless steel, especially in the Asia-Pacific and Europe, requires good-quality nickel pellets for improving corrosion resistance, toughness, and formability. Stainless steel products are highly consumed by the construction, transportation, and consumer goods industries; hence, the demand for nickel is consistent.

Nickle is one of the essential elements in lithium-ion batteries for electric vehicles, owing to its properties for maximum energy density and efficiency. Applications that produce high-performance alloys, like aerospace industries, oil and gas, and power generation plants, have already seen an increased demand that will continuously be high for nickel. Special industries also utilize nickel useful properties in improving strength and heat resistance of materials used under extreme conditions. Because it is also indispensable in the making of turbine blades, engine parts, and other high-temperature uses that are so vital to these industries.

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Key Takeaways from Market Study:

  • Global nickel pellet market will grow at a CAGR of 5.9%, reaching US$ 3,473.3 million by the end of 2034.
  • Asia Pacific will account for 38.8% of market share in 2024, generating an absolute dollar opportunity of US$ 616.9 million between 2024 and 2034.
  • Europe will expand at a CAGR of 5.9% from 2024 to 2034, capturing 24.7% of the market share in 2024 and offering an absolute opportunity of US$ 376.1 million.
  • Between 2024 and 2034, by application disinfectants are expected to produce an absolute dollar opportunity US$ 1,522.5 million.
  • With a 63.0% market share, by purity, standard (99.98%) segment is estimated to be worth US$ 1,228.8 million in 2024.

"Growth in Stainless Steel Production & Rising Demand for Electric Vehicles is Driving Demand for Nickel Pellets Significantly” says a Fact.MR analyst.

Leading Players Driving Innovation in the Nickel Pellet Market:

Vale SA; Nornickel; Jinchuan Group; Glencore; Sherritt International Corporation; BHP Group (Nickel West); Sumitomo Metal Mining Co., Ltd.; Huayou New Energy Technology (Quzhou) Co., Ltd.; CNGR Advanced Material; Lundin Mining Corporation; Anglo American; Eramet; Ambatovy; MM Ceramics & Ferro Alloys; Kurt J. Lesker Company.

Market Development:

These players are focusing on expansion of production capacity, improve supply chains, and investing in sustainable mining practices. These companies also pursue strategic collaborations and acquisitions to strengthen market positions, driven by rising demand from stainless steel and battery industries.

As an instance:

  • In March 2023, Nornickel collaborated with Ford to explore supply chain options for high-purity nickel for EV production.
  • In December 2022, Vale signed a long-term supply agreement with General Motors to provide nickel for its Ultium battery platform.

Nickel Pellet Industry News:

·       To keep up with the growing demand for battery-grade nickel, Vale increased its nickel processing capacity in Canada in July 2020.

·       To increase high-purity output, Sumitomo Metal Mining Co. (SMM) was granted permission in December 2021 to expand its nickel refining operations in Japan.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the global Nickel pellet market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study reveals essential insights based on Purity - High Purity (>99.98%), Standard (99.98%), and Low Purity (<99.98%); Application - Stainless Steel, Nickel Alloys, Electroplating, Batteries, Powder Metallurgy, Catalyst, Magnets, and Others; End-Use - Aerospace & Defense, Marine, Automotive, Oil & Gas, Chemical, Energy, Consumer Goods, and Others; in Regions - North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Source: https://www.globenewswire.com/news-release/2024/11/11/2978147/0/en/Nickel-Pellet-Market-is-Expected-to-Expand-at-a-CAGR-of-5-9-Reaching-US-3-473-3-Million-by-2034-Fact-MR-Report.html

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