BIRMINGHAM, England — Global nickel demand is analyzed in the report Nickel: 2014 Market Review and Forecast by Merchant Research and Consulting Ltd., a market research company. The report states that the global nickel market has been steadily growing and is forecast to continue. In 2013, global nickel production rose by 12 percent compared to 2012, with Indonesia and the Philippines each accounting for almost 18 percent of world nickel output volume. Other nickel producers include Russia, Australia, and Canada, with shares totaling 10, 9.6, and 9 percent respectively.
The world’s largest nickel reserves are thought to be located in Australia, New Caledonia, Brazil, Russia, and China. Expectations are that currently known nickel deposits will be sufficient to satisfy world demand in the near term. More than half the nickel produced worldwide is used for stainless steel production. Other uses include plating and nickel and steel alloy production. Nickel demand is expected to be strongest in emerging markets, such as India and China, but will also be important for developed countries, including the US. Demand in the US stems primarily from the aerospace and automotive industries and the country’s stabilizing economy. For more info and to purchase the report for $1,250, visit mcgroup.co.uk.