Local industry players project a steady growth of the nickel industry as it plays a more significant role in both local and international markets driven by nickel-consuming businesses.
Philippines’ e-vehicle industry, which is considered one of the leading drivers of nickel consumption in the country, can have almost P 1.68 billion on sales in services in the coming years according to the Electric Vehicles Association of the Philippines (EVAP) forecast.
An annual growth of eight to 12 percent per year is also projected in the e-vehicle industry but only if stakeholders start forming plans on how to capitalize on this growing market opportunity.
“Electric vehicles are the future, there is a growing market and drive to make the industry sustainable for all sectors is significant now,” said Edmund Araga, President of EVAP.
In a conference dedicated to the nickel industry, the Philippine Nickel Industry Association, Inc. (PNIA) is also expecting a growing demand for stainless steel, transportation, infrastructure, and energy sector.
Meanwhile, International Nickel Study Group (INSG) assessed the possible impact of the Philippines to the long-term nickel demand. They also want to invite the country to be a member of said intergovernmental organization.
“The Philippines is the world’s second largest supplier of nickel ore and its role in the global market is very significant. This may also signify an opportune time to engage the Philippines in a global level of nickel discussion,” said INSG Secretary General Paul White.
The pioneering conference was held on March 18 and 19, with its annual theme being Nickel Initiative 2019: Shaping Tomorrow, Together.”
It seeks to forge a roadmap for the nickel industry through exploration of global trends and opportunities in sectors consuming nickel.
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