Nickel demand hikes as aerospace industry grows

Author: Paul Ploumis
06 Jan 2015 Last updated at 03:41:40 GMT
WASHINGTON (Scrap Monster): The nickel industry around the globe, is experiencing a huge growth in the increasing demand for nickel in every part of the world. The demand for nickel in the global market, is mainly affected by the increase in the production of stainless steel in all the developing countries. The metal is made to use in all the sectors which are the part of industrial development, and hence the demand for nickel is expected to rise much higher. According to the statement released by the RNCOS; ‘Global Nickel Market Outlook 2016’, both the aviation as well as the aerospace industry is growing rapidly, and these industries, mainly relies ion nickel based super alloys, as it has the ability retain strength and also resist metal fatigue in very high temperatures. The strength, light weight, and also the metal’s aesthetic appearance make the nickel alloys an excellent choice in making the parts and also the components, which is required in aerospace as well as in the aviation operations.

The report released by the RNCOS, stated that, nickel is highly made to use in the aerospace industry, mainly in the aircraft engines. Nickel alloys, most importantly steel is used for the production of required materials which are of special shapes. The increase in demand is mainly expected for nickel based super alloys; high performing alloys which are made out of nickel, cobalt or from nickel-iron, with the help of high temperature, and these materials would have high resistance towards  corrosion and temperature. The aerospace industry consumes almost 50 percent of  50 percent of the total amount of super alloy production. The growth in the aerospace industry symbolizes high opportunity for the nickel producers. It has been also forecasted that, the consumption of nickel would increase by 9 percent in the period 2014-2016.