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Global nickel industry was supported by the world economic growth until 2007 with rising production of primary nickel metal. However, economic crisis affected the worldwide nickel production in 2008 & 2009 and production declined to 1.32 Million Metric Tons in 2009. In 2010, primary nickel production recovered rapidly to 1.45 Million Metric Tons and since then the production is growing continuously. It is estimated that production will reach around 1.86 Million Metric Tons by the end of 2013, growing at a CAGR of around 9% during 2010-2013.
As per a recent study by RNCOS, global nickel production is anticipated to grow at a CAGR of around 6% during 2013-2017 with opening of more mines leading to more nickel production in the coming years. Europe and Asia are the leading regions for the nickel production across the world. In 2012, both the regions accounted for more than 70% of the total global primary nickel production.
Highlighting the opportunities in the nickel market, Shushmul Maheshwari, CEO - RNCOS said that stainless steel production, nickel consumption in China, technological transformation and government support are the major propellants to the industry growth. RNCOS research revealed that nickel, through its various uses plays a large part in the development of capital infrastructure in economies worldwide. The metal is widely used in aerospace, architectural, consumer, industrial, marine, military and transport applications.
To tap the growing demand for metal, numerous major players such as Norilsk Nickel, Vale SA, Jinchuan Group, Xstrata etc are focusing on increasing their production capacity. Nickel consumption is expected to grow due to an increased demand for stainless steel in the emerging economies of China, India and Asian countries in the coming years. Expansion of urban infrastructure, housing developments and ongoing industrialization and urbanization is expected to result in increased demand. Moreover, nickel based alloys and batteries will create demand for the metal and support the future growth of the industry.
The global nickel industry has sound growth prospective which can be achieved, devising appropriate business strategies. RNCOS acts as your growth partner in all your business endeavors, be it product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. We help make your business flourish by studying the market dynamics, collating with your business and devising fruitful business strategies.
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