Nickel Matte Market Size, Share, Growth, and Industry Analysis, By Type (Layered Smelting, Leaching, Carbonyl Process, Flotation Process), By Application (Steel Industry and Battery Industry), Regional Forecast To 2031

Updated On: 06 May 2024

Nickel Matte Market REPORT OVERVIEW

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global nickel matte market size was USD 4049.7 million in 2022 and market is projected to touch USD 11868.36 Million By 2031, exhibiting a CAGR of 12.69% during the forecast period.

The steel sheet that has been nickel-plated has a thin layer of nickel applied to it. Steel that has been nickel-plated is robust and corrosion-resistant. It is frequently employed in building projects, the production of automobiles, and other industrial purposes. rising demand from end-use industries like the automobile, building, and appliance industries. Nickel-plated steel sheets are becoming more and more well-liked in the Asia Pacific region. Key firms are increasing their investments in production facilities to meet the expanding demand. As a result of technological improvement, new grades of nickel-plated steel sheets with improved qualities have been created. Government laws that are strict on reducing emissions and saving energy.

The growth is mostly related to the rise in demand for alloys based on nickel in industries including batteries, aerospace, and automobiles. The nickel matte market is divided into types, applications, and geographic regions. The market is segmented into three categories based on type: matte, gloss, and matte, which together account for over 80% of the worldwide nickel-plated steel market share and will be crucial to the market as a whole in the next years. In the global nickel-plated steel industry, gloss only accounts for 15% of sales, but it has room to grow. Alkaline batteries account for roughly 70% of the nickel matte industry by application, whereas lithium batteries account for barely 10%. 9% go to automotive, and 10% is taken up by other industries.

COVID-19 Impact: Disruption in Supply Chain Due to Lockdowns to Hinder Market Growth

In many ways, the COVID-19 crisis is unprecedented. The hunt for therapies and a vaccine is ongoing as governments, businesses, and society at large collaborate to comprehend and address the issues brought on by the epidemic in order to support patients, their families, and communities. Uncertainty over the pandemic's long-term effects on the mining industry persists, as is understandable, but new information about the crisis's impact on commodity demand, supply chains, and business models is emerging every day.

LATEST TRENDS

"Use of Alkaline batteries to Attract More Customers"

Alkaline batteries are suitable for uses like electric vehicles because nickel, which has the highest energy density of all metals, boosts their power density. In the global nickel-plated steel market, the automotive sector held a 9% market share. Over the forecast period, product consumption is anticipated to be driven by the growing need for lightweight materials with high strength and durability. Construction materials, medical equipment, and electronics & appliances are among further important applications.

Nickel Matte Market SEGMENTATION

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• By Type

Based on type market is classified as layered smelting, leaching, carbonyl process, flotation process.

• By Application

Based on application market is classified as steel industry and battery industry.

DRIVING FACTORS

"Automotive Industry to Provide Impetus to the Market"

Nickel has the highest energy density of any metal, and its addition to alkaline batteries increases their power density, making them appropriate for uses like electric cars. The use of nickel-plated steel in alkaline batteries is anticipated to expand. The automotive industry held a 9% market share for the global nickel matte market. Over the forecast period, product consumption is anticipated to be driven by the growing need for lightweight materials with high strength and durability. Construction materials, medical equipment, and electronics & appliances are among further important applications. Nickel-plated steel sheet is used to make medical equipment, including x-ray machines, because of its excellent magnetic characteristic, which helps form an image by casting a shadow on film or electrical devices.

"Wide Use in Various Industries to Augment Market Growth"

Steel that has a matte finish is steel that has been nickel-plated in a matte manner. In comparison to a polished surface, this treatment gives the steel a more metallic appearance. It is frequently utilised in goods that need to look strong but not overly spectacular. It is also widely used in items that require to be scratch- and damage-resistant. Steel that has been nickel-plated and has a high degree of shine is said to be gloss nickel-plated steel. Products that require a high degree of shine, such tools and automobile parts, are made with this grade of steel. Alkaline batteries and other items that need to be corrosion-resistant use it as well.

RESTRAINING FACTORS

"Non-Lithium-Ion Batteries to Impede Market Growth"

The expansion of the nickel matte market is being hampered by competition from alternative batteries. There is a significant chance that new energy storage technologies, such as non-lithium-ion batteries, fuel cells, and lithium-ion batteries, will eventually replace lithium iron phosphate batteries. Lithium-ion battery chemistries include solid-state batteries, lithium titanate, lithium cobalt oxide, lithium manganese oxide, lithium nickel manganese cobalt oxide, and lithium.

Nickel Matte Market REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market Due to Large Consumption of Nickle"

Over the course of the forecast period, Asia Pacific will continue to be the region that consumes the most nickel matte worldwide. Due to rising vehicle production in nations like India, China, Indonesia, and Thailand, the area is anticipated to experience significant growth. Additionally, a growing preference for luxury vehicles combined with rising disposable income is projected to fuel demand for nickel-plated steel sheets in this region. Due to strong demand from end-use industries like the Automotive (light vehicles), Others (heavy commercial Vehicles), & Aerospace industries, which expanding at a healthy CAGR over the forecast period, Asia Pacific is an important consumer of nickel-plated steel sheets, accounting for 20% of total market share.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players of nickel matte are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Tsingshan Group (China)
• Boliden (Swden)
• Jinchuan (Hong Kong)
• Vale Indonesia (Indonesia)
• Jilin Jien Nickel Industry (China)
• Xinjiang Xinxin Mining Industry (China)
• Nickel West (Australia)

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the ssegmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Aanalysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.