Global Unwrought Nickel Market: Overview
The purest and untreated form of nickel is known as unwrought nickel. Unwrought nickel is used on a large scale in alloys. It has purity level of more than 98%. The 2% of impurity is due to presence of certain elements such as sulfur, iron, copper, oxygen, and carbon. Unwrought nickel is being employed extensively in industries that require resistive heating such as nuclear, aerospace, and automotive specialty. Unwrought nickel is commercially available in a number of forms such as granules, powder or flakes, pellets, and electrodes (such as cathode).
Unwrought nickel is used in a wide range of applications from vehicles to construction. It is also used for the manufacture of metals such as steel and iron. Pure form of nickel is used widely as a catalyst and in electrodes and electric contacts, machinery parts, spark plugs, and dental and surgical prostheses.
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Due to higher level of purity compared to other forms of nickel such as nickel matte, refined nickel metal, nickel alloys, and nickel alloy sinters; unwrought nickel is preferred for the formation of super alloys to be used for different manufacturing purposes.
Nickel is incorporated in a wide range of applications. However, utilization of unwrought nickel is less compared to other forms of nickel. Due to its high level of purity, unwrought nickel is used mostly for processes that require high monetary investments. Hence, the scope for growth of the unwrought nickel market is less compared to the market for other forms of nickel.
Unwrought nickel as well as other forms of nickel can be efficiently substituted by zinc and its alloys. Zinc is known to have better reducing properties than nickel, which makes it a desired element for use in industrial applications. Possibilities of nickel being substituted by zinc are quite high, which may prove to be a restraint for the unwrought nickel market during the forecast period.
The risk of nickel being substituted by zinc and its alloys in various applications and the acceptability of other forms of nickel such as nickel alloys in place of unwrought nickel are projected to restrain the unwrought nickel market in the near future. Hence, the market for unwrought nickel is likely to face downfall during the forecast period.
Asia Pacific is an established region for unwrought nickel market. The unwrought nickel market in the region is expected to expand during the forecast period, due to increase in the demand for various manufacturing and industrial processes in India and China. The unwrought nickel market in Latin America and Middle East & Africa are expected to expand in the near future, as the number of manufacturing units in these regions is less compared to other regions.
The unwrought nickel market in North America and Europe are projected to expand at a steady pace during the forecast period, due to anticipated increase in industrialization in these regions in the near future. The unwrought nickel market in Latin America is likely to expand at a lower growth rate compared to other regions, owing to use of other forms of nickel in place of unwrought nickel in this region.
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Global Unwrought Nickel Market: Key Players
Some of the players operating in the global unwrought nickel market are Qingdao Aero Investment Casting Co., Miller & Company, Nornickel, Glencore, Sumitomo Metal Mining Co., Ltd., ERAMET, and Anglo American.