| Title | Material flow and domestic demand analysis for nickel in South Korea |
|---|---|
| ID_Doc | 26680 |
| Authors | Choi, HH; Hwang, YW; Kim, J; Kang, HY; Kim, DH |
| Title | Material flow and domestic demand analysis for nickel in South Korea |
| Year | 2024 |
| Published | |
| Abstract | Nickel is used as a raw material in the production of stainless steel and secondary batteries in South Korea due to its low corrosivity and high energy density. An unstable nickel supply can negatively affect Korea's industrial competitiveness. Therefore, to identify changes in the local nickel industry and compare and analyze nickel resource circulation and recycling rates, we conducted a material flow analysis of nickel in Korea for 2018 and 2021. An integrated material flow analysis methodology was used to construct the material flow using bottom-up and top -down methods. The results showed that the domestic demand for products connected to lithium-ion batteries increased compared to the demand in 2018, as did the demand for renewable energy and renewable energy-related items, such as electric vehicles, e-bikes, and lithium-ion batteries. However, the flow of stainless steel-related products has declined since 2018 because of the declining supply and demand for automotive semiconductors owing to the COVID-19 pandemic, and the paradigm shift from internal combustion to electric vehicles. As of 2021, the resource circulation rate and recycling rate of domestic nickel resources were 22.1% and 94.73%, respectively, an increase of 5.64% and a decrease of 19.3%, respectively, compared to 2018. The main reason for the increase in the recycling rate was that the recycled amount of end-of-life nickel products in 2021 increased compared to 2018. The main reason for the increase in the resource circulation rate was that the domestic input of lithium-ion batteries increased rapidly by 2021, but they are still in use because of the life span of lithium-ion batteries. The results of this study provide a theoretical basis for industries and policymakers to develop strategies for securing nickel. |
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