The nickel market size is predicted to reach USD 59.14 billion by 2028 and exhibit a CAGR of 7.3% during the forecast period. Fortune Business InsightsTM has presented this information in its report titled, “Nickel Market, 2021-2028”.
Information source: https://www.fortunebusinessinsights.com/nickel-market-106576
Nickel (Ni) is a naturally occurring silvery-white, shiny metallic element. Because of its remarkable physical and chemical qualities, the substance is a required component in a variety of products. Its principal use is alloying stainless and heat-resistant steels, particularly with chromium and other metals
On the basis of application, the market is fragmented into special steels, stainless steel, batteries, alloys, electroplating, and others. Geographically, the market is classified into Asia Pacific, South America, North America, Europe, Asia Pacific, the Middle East Africa.
Increasing Demand for Stainless Steel to Augment Market Growth
Product adoption will be aided by rising stainless steel demand in automotive, consumer goods, and construction industries. Stainless steel accounts for more than two-thirds of global Ni use, according to the Nickel Institute Organization.