Nickel – is not a new raw element found on earth. In the past, United States and Switzerland used nickel to make coins. Progressively, nickel was also combined to make stainless steel and other alloys. For instance, Invar(R), Monel(R), Inconel(R) and Hastelloys(R), which are resistant to corrosion. In addition, nickel was one of the elements applied in the production of batteries. The industry of batteries has developed remarkably the usage of nickel, of which it is now used to power cars. Batteries have been favoured as an energy source on the road with Hybrid electric vehicles as their characteristics of being environmentally friendly.
Furthermore, nickel-based alloys are commonly applied in the field of electronics, construction (e.g. preparation of steel and reinforced bars), communication (e.g. manufacturing handphones other handheld devices), nickel and alloy engines, digital systems with nickel made materials in motherboards and stainless steel utensils in a kitchen for cooking and food preparation.
A 5-year forecast of global nickel usage between 2015 and 2020 shows a drastic increase from 1,963,000 tonnes to 2,376,000 tonnes. Notably, it is doubled the amount required in the current market. The demand is growing exponentially, of which an estimation of USD 26 billion can be generated from the value of nickel.