As much of the world heads to the polls this year, Veronique Steukers explains why newly elected lawmakers should care about nickel and why they should consider three policy asks.
With global EV sales approaching 14 million cars in 2023 with a year-on-year growth rate of 35% it is clear that EVs are gaining acceptance rapidly.
In 2021, China recorded the strongest growth in the EV market with around 3.2 million EVs sold. This was an increase of 2 million EV units compared to 2020 which was more than the combined increase of all other regions taken together.
Nickel-based alloys and nickel-containing stainless are playing key roles in an emerging source of renewable energy known as thermal solar plants or concentrated solar power (CSP). Their use has enabled the industry to overcome challenges in heat transfer and thermal storage technology.
Geothermal energy for electric power production has a low profile yet is significant in the current and potential energy mix for a number of countries. It has also been described as the most reliable of the renewable energy sources, above weather-dependent wind, solar and hydropower.
Most nickel production is destined for stainless steel. But a significant 8% is used in the production of alloy steels which are needed to deliver specific characteristics for specialised and often critical applications.