NEW YORK, Nov. 17, 2014 /PRNewswire/ -- The global nickel market has witnessed strong growth in production as well as consumption patterns, in the recent years. Although consumption levels increased across the world, China exhibited one of the largest growth rates. This phenomenal growth has made China, the world's largest consumer of nickel, and the country is anticipated to account for a larger share in the coming years as well.
According to our latest research report "Global Nickel Market Outlook 2016", nickel consumption is dominated by the stainless steel sector. This growing demand from stainless steel producers, a trend that is likely to continue in the near future as well, will drive the buoyant global nickel market. Our report reveals that global refined nickel consumption is continuously increasing as it is used in more industrialized products. Various industries that have high application of refined nickel, for instance, developed automotive and aerospace industries are raising the demand for the metal. It is anticipated that the global refined nickel consumption will grow at a CAGR of around 6% during 2014-2016.
Various developing countries, more particularly, China and India will play a major role in the growth of the global nickel industry in the coming years. However, developed countries, like US, are also expected to witness a strong demand in future. Such growth is due to the well-developed automotive and aerospace industries, and also improving economic conditions. In recent years, New Caledonia has been gaining a position in the global nickel market because of its high nickel reserves.
Our report comprehensively analyzes and forecasts global nickel mine production, refined nickel production and refined nickel consumption till 2016. We have taken into account the countries that are leading in the production and consumption of nickel. Detailed historic and future perspectives of the countries have also been provided with data forecasted till 2016. This will help potential investors in identifying the growth opportunities in both global and regional nickel industries.
Besides, the report also includes price movement, country-specific nickel reserves, and market drivers, to help the clients analyze the opportunities critical for the success of the nickel industry. Furthermore, the report provides profiling of the prominent industry players such as Norilsk Nickel, BHP Billiton, Vale, and many others to provide a balanced research outlook of the whole industry. The section covers their business overview and key financials. Overall, the report presents optimum information and balanced research outlook on the potentials of the global nickel industry.
Read the full report: http://www.reportlinker.com/p02478150-summary/view-report.html
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