Nickel Market Outlook: Stainless Steel & EV Battery Demand Surge | Top Most Keyplayers - Glencore, Vale SA, Eramet SA, Sherritt International Corp., Sumitomo Metal Mining Co.

Global Nickel Market reached US$ 33.6 billion in 2022 and is expected to reach US$ 47.2 billion by 2031, growing with a CAGR of 5.5% during the forecast period 2024-2031.

The Nickel Market Market receives exhaustive analysis from DataM Intelligence, delivering stakeholders essential market data, emerging industry patterns, and strategic business intelligence. This in-depth research explores the competitive landscape in detail, evaluating market leaders across multiple dimensions including their innovative product offerings, competitive pricing strategies, financial performance metrics, strategic growth plans, and regional market penetration efforts.

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Nickel is a versatile metal known for its strength, corrosion resistance, and ability to withstand extreme temperatures, making it essential in stainless steel production, alloys, batteries, and electroplating. It plays a critical role in industries like construction, automotive, aerospace, and renewable energy storage.

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Market Players in the Nickel Market

The prominent players in Nickel Market market research report are: Glencore, Vale SA, Eramet SA, Sherritt International Corp., Sumitomo Metal Mining Co., Anglo American, MMC Norilsk Nickel, Jinchuan Group Ltd., BHP Billiton Ltd and Pacific Metal Company.

The companies are primarily focusing on strategies such as new product launches to penetrate the fastest-growing emerging markets across the world.

Nickel Market Market Key Development

USA

→ The US nickel market saw steady growth driven by rising demand in electric vehicles (EVs), energy storage, and infrastructure development.
→ The North American nickel market is expanding with increasing investments in battery manufacturing and EV supply chains, as nickel is a key component in lithium-ion batteries.
→ Primary nickel production in the US is projected to increase with strong government support for clean energy and electric mobility.
→ Nickel prices have been volatile, with prices reaching around $20,545 per metric ton in June 2025, influenced by supply chain disruptions, trade uncertainties, and currency fluctuations.
→ Growing demand from stainless steel, aerospace, and automotive sectors supports sustained market growth.

Japan

→ Demand is driven by industrial growth, especially in automotive, electronics, aerospace, and battery manufacturing sectors, where nickel is used in high-performance alloys and lithium-ion batteries.
→ Japan emphasizes sustainable and ethical sourcing of nickel amid regulatory focus on environmental impact and supply chain transparency.
→ Nickel prices in Japan were approximately $15,430 per metric ton in June 2025, affected by freight costs, energy price volatility, and supply chain challenges.
→ Government and industry initiatives promote technological innovation, clean energy adoption, and nickel utilization in advanced manufacturing.

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Nickel Market Market Segments

By Source: Pentlandite, Laterite

By Mining Method: Underground, Surface

By Class: Nickel Class I, Nickel Class II

By Application: Stainless Steel, Alloys, Plating, Foundry, Batteries, Others

By End-User: Metal Goods, Electric and Electronics, Engineering, Building & Construction, Transportation, Others

The Nickel Market industry is experiencing rapid growth, driven by advancements in medical technologies, increased demand for innovative therapies, and a rising focus on patient-centered care. As these sectors evolve, the need for comprehensive market analysis becomes crucial to understand trends, regulatory changes, and emerging opportunities.

Research Methodology

Our analytical framework employs cutting-edge statistical modeling and data mining techniques to identify emerging patterns, forecast market trajectories, and decode complex industry dynamics. We enhance our findings through sophisticated market segmentation analysis and Porter's Five Forces evaluation, providing a 360-degree view of the competitive landscape. This multi-layered methodology ensures our delivered insights are not only data-driven and credible but also strategically relevant and immediately actionable for critical business decisions.

Regions Covered:

The global Nickel Market Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

This Report Covers:

✔ Go-to-market Strategy.

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✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

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