Global battery sector’s demand for Nickel likely to reach 410,000 mt in 2022
March 30, 2022
Japan’s largest nickel producer said that global demand for nickel in the battery industry will grow by more than 20% this year due to firm demand for electric vehicles. The producer supplies cathode nickel for Panasonic lithium batteries used in Tesla’s electric cars. Demand for nickel used by rechargeable batteries will rise to more than 410,000 mt in 2022 from nearly 330,000 mt in 2021, the Company said.
Nickel is mainly used in the production of stainless steel and is also a key material for lithium batteries. Demand for electric vehicles will accelerate in the coming years. Global nickel demand is expected to grow by 8.4% to 2.999 million mt this year, while supply is expected to increase by 11.4% to 2.931 million mt.
(Source: Shanghai Metals Market)