Nickel Mining Market Characteristics
The nickel mining market consists of sales of nickel ores and concentrates by entities (organizations, sole traders and partnerships) that mine nickel ore. The industry includes establishments developing mine sites and preparing nickel ores and recovering nickel concentrates through precipitation, leaching and elector wining nickel ores.
Competitive Landscape of the Nickel Mining Market
Major players in the global nickel mining market include Vale SA, MMC Norilsk Nickel, Xstrata Plc, Jinchuan Group Ltd and BHP Billiton Ltd.
Nickel Mining Market Size
The nickel mining market size is expected to reach a higher value by 2022, significantly growing at a steady CAGR during the forecast period. The growth in the nickel mining market is due to increase in the manufacturing of stainless steel in countries such as Australia and Philipines owing to rise in infrastructure.
However, the market for nickel mining is expected to face certain restraints from several factors such as interest rate increases, workforce issues and safety.
Nickel Mining Market Segmentation
The global nickel mining market is further segmented based on type and geography.
By Type - The nickel mining market is segmented into pentlandite (sulfide ore) and laterite.
By Geography - The global nickel mining is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe nickel mining market accounts the largest share in the global nickel mining market.
Trends in the Nickel Mining Market
Companies involved in nickel mining are using portable X-ray fluorescence (XRF) analyzers to improve extraction efficiency. Portable XRF analyzers can provide real-time analysis of nickel found in rocks, soil, sediment, drill cuttings, and drill core samples, as the major trends witnessed in the global non-residential accommodation market.
Potential Opportunities in the Nickel Mining Market
With increase in production of stainless steel the scope and potential for the global nickel mining market is expected to significantly rise in the forecast period.
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