Refined Nickel Market Eyeing Bigger Moves: BHP Billiton, Norilsk Nickel, Western Areas
Published Via 11Press : The most recent market research report from HTF MI on the global refined nickel market analyses the risk side, points out opportunities, and uses strategic and tactical decision-making support. The analysis offers details on market developments, growth factors, technologies, and the shifting investment composition of the refined nickel industry. The study includes profiles of several key players, including Norilsk Nickel (Russia), BHP Billiton Ltd. (Australia), Vale S.A. (Brazil), Glencore plc (Switzerland), Jinchuan Group International Resources Co., Ltd. (Hong Kong), Anglo American plc (United Kingdom), Sumitomo Metal Mining Co., Ltd. (Japan), Eramet SA (France), First Quantum Minerals Ltd. (Canada) , Western Areas Ltd. (Australia), Independence Group NL (Australia), Sherritt International Corporation (Canada), Jilin Jien Nickel Industry Co., Ltd. (China), Gansu Jinchuan Jinge Energy Development Co., Ltd. (China), Huayou Cobalt Co., Ltd. Others (China).
What is Refined Nickel?
The term “refined nickel market” describes the international commerce in high-purity nickel metal that has been refined using various techniques to get rid of impurities and reach the appropriate level of purity. Stainless steel, which has numerous uses in the construction, automotive, and aerospace industries, is predominantly made from refined nickel. Batteries, electroplating, and catalysts are just a few of the items it is used to create. The trading of refined nickel through a variety of channels, including exchanges, over-the-counter marketplaces, and directly between producers and customers, is included in the market.
The paper includes a thorough analysis divided into important business areas, such as type (Class 1 Nickel Class 2 Nickel Class 3 Nickel), application (Stainless Steel Production Alloy Production Plating Batteries Other (including Catalysts, Coins, and Magnets)), and main geographic regions. China’s companies would contribute the most to the market’s growth for refined nickel worldwide over the forecasted period, according to a research analyst at HTF MI. The adoption of new strategies by companies in the market for refined nickel is predicted to make the competition even more fierce in the next years. Refined Nickel research report provides a thorough analysis of the competition and information on the product/service landscape of top firms in order to assist customers in increasing their revenue shares in the industry.
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The study lists a few key players:
- Norilsk Nickel (Russia)
- BHP Billiton Ltd. (Australia)
- Vale S.A. (Brazil)
- Glencore plc (Switzerland)
- Jinchuan Group International Resources Co. Ltd. (Hong Kong)
- Anglo American plc (United Kingdom)
- Sumitomo Metal Mining Co. Ltd. (Japan)
- Eramet SA (France)
- First Quantum Minerals Ltd. (Canada)
- Western Areas Ltd. (Australia)
- Independence Group NL (Australia)
- Sherritt International Corporation (Canada)
- Jilin Jien Nickel Industry Co. Ltd. (China)
- Gansu Jinchuan Jinge Energy Development Co. Ltd. (China)
- Huayou Cobalt Co. Ltd.
- Others (China).
Market Overview:
- The special purpose acquisition company (SPAC) GoGreen Acquisition Corp. and the Canadian mining business Lifezone Metals reached a $1 billion merger agreement on December 14, 2022. As a result of the deal, the merged company began trading on the New York Stock Exchange. In particular, in Canada, Lifezone Metals is concentrated on the discovery and development of high-grade nickel, copper, and cobalt assets. As demand for nickel, copper, and cobalt grew in response to the rising demand for electric vehicles and other renewable energy technologies, the agreement gave Lifezone Metals access to public financial markets to support its growth and development objectives.
- Nicomet, an insolvent Indian nickel-cobalt firm, was acquired by Vedanta on December 20, 2021. Through a settlement plan accepted by the National Company Law Tribunal, Vedanta acquired Nicomet’s assets for Rs 650 crore ($87.5 million). Vedanta wants to help the development of the electric car market by adding this acquisition to its portfolio of nickel and cobalt. The largest integrated producer of nickel and cobalt in India right now is Vedanta.
- In relation to refined nickel, there are various ISO standards. One of the most crucial is ISO 14423:2015, which outlines a method for the determination of nickel content in nickel ores and concentrates, nickel matte, and intermediate products of nickel metallurgy. The ISO 12743:2010 standard, which details a procedure for calculating the sulfur content of nickel alloys using combustion and potentiometric titration, is another pertinent one. Additionally, ISO 80000-9:2019 offers instructions for the use of the International System of Units (SI) in the areas of physical chemistry and molecular physics, which are critical in the measurement and evaluation of refined nickel characteristics.
Influencing Trend:
- The rising demand for nickel in EV batteries is one of the newest trends in the global market for refined nickel. The need for nickel is anticipated to grow dramatically as the globe transitions to more environmentally friendly transportation.
- The adoption of cutting-edge technologies, such as hydrometallurgy and bioleaching, that have increased efficiency and minimized their negative effects on the environment is another development in the manufacture of refined nickel.
- The need for refined nickel is also being driven by nickel’s expanding use in other industries, like the production of stainless steel. Since they enable the recovery of nickel from scrap and end-of-life items, advancements in recycling technologies are likewise becoming more and more crucial.
Market Growth Drivers:
- Numerous variables influence the market for refined nickel on a global scale. The rising demand for stainless steel, the biggest consumer of refined nickel, is one important contributing cause. In the upcoming years, demand for stainless steel is anticipated to rise in a number of sectors, including construction, transportation, and aerospace.
- The increase of the market for electric vehicles (EVs) is another factor promoting growth. The demand for refined nickel is anticipated to rise as the market for EVs continues to expand. EVs utilize more refined nickel in their batteries than conventional combustion engine vehicles. Furthermore, supply disruptions like mine closures or labor strikes can reduce the supply of refined nickel and raise costs.
Challenges:
- The expansion of the world market for refined nickel may be hampered by a number of variables. One such issue is the nickel market’s volatility, which is influenced by a number of macroeconomic factors including world economic circumstances, demand from significant end-use sectors, and geopolitical conflicts.
- The growing emphasis on alternative technologies that could take the place of nickel-containing items, such as electric cars and batteries, is another factor. A further obstacle to the expansion of the refined nickel market may be the diminishing deposits of high-grade nickel ores and the rising expenses of nickel mining and processing.
- Environmental laws and worries about the carbon footprint of nickel mining and processing could also have an impact on the market by raising operating costs and lowering profit margins.
| Attributes | Details |
| Study Period | -2028 |
| Base Year | 2022 |
| Largest Market | Asia Pacific |
| Unit | (US Doller Million) Value |
| Companies Profiled | Norilsk Nickel (Russia) BHP Billiton Ltd. (Australia) Vale S.A. (Brazil) Glencore plc (Switzerland) Jinchuan Group International Resources Co., Ltd. (Hong Kong) Anglo American plc (United Kingdom) Sumitomo Metal Mining Co., Ltd. (Japan) Eramet SA (France) First Quantum Minerals Ltd. (Canada) Western Areas Ltd. (Australia) Independence Group NL (Australia) Sherritt International Corporation (Canada) Jilin Jien Nickel Industry Co., Ltd. (China) Gansu Jinchuan Jinge Energy Development Co., Ltd. (China) Huayou Cobalt Co., Ltd. Others (China) |
| CAGR | 4.8% |
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Important Triggers and Transformation:
Due to the convergence of multiple significant triggers, including:
- Significant changes in the cost structure and technology of the refined nickel industry
- A critical juncture in globalization
- The difficulties posed by regulatory compliance in the market for refined nickel
- Significant sluggishness in developed economies
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