Press release
Nickel Market Price | Industry Outlook, Trends and Forecast 2025-2033
Nickel Market Price | Industry Outlook, Trends and Forecast 2025-2033
The global Nickel Market was valued at USD 37.0 Billion in 2024 and is forecasted to reach USD 55.5 Billion by 2033, growing at a CAGR of 4.6% during the 2025-2033 period. The Asia Pacific region holds the dominant share with over 72% in 2024, driven by industrial expansion, rising stainless steel demand, and increased electric vehicle battery production. Innovations, government policies, and infrastructure investments further support market growth.
STUDY ASSUMPTION YEARS
• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033
NICKEL MARKET KEY TAKEAWAYS
• Current Market Size: USD 37.0 Billion in 2024
• CAGR: 4.6% (2025-2033)
• Forecast Period: 2025-2033
• Asia Pacific holds a leading market share of over 72.0% in 2024.
• The stainless steel industry accounts for over 60% of global nickel consumption.
• Growing demand for nickel in electric vehicle batteries is expected to increase by 300% over the next decade.
• Infrastructure development and urbanization in emerging economies are propelling nickel demand.
• The U.S. market is driven by aerospace, defense, and clean energy investments.
Request for a Free Sample of this Report: https://www.imarcgroup.com/nickel-market/requestsample
MARKET GROWTH FACTORS
Battery technologies for storage systems drive the nickel market because of rapid growth, and large-scale installations supply important volume. For EV batteries, nickel-containing cathode active materials are essential. In 2024, Nornickel opened a new R&D center for study of nickel as a battery component. Nickel demand innovated when processes extracted and refined nickel.
Geopolitical risks specific to some countries that produce nickel and supply limited to them contribute to market volatility. Mining and recycling techniques advance toward producing more environmentally sustainable products to meet the growing global demand for nickel. U.S. defense and aerospace companies contribute toward the U.S. market. The Department of Defense funds research so it can promote domestic nickel production and reduce reliance on foreign suppliers.
Nickel is used consistently in stainless steels at a high rate for a long time (over 60% of nickel is consumed), and the International Stainless-Steel Forum (ISSF) reports that construction and transportation use nickel more and more, helped by urbanization and infrastructure investment. Worldwide infrastructure investors will spend USD 94 trillion by 2040 with expectations, and market analysts predict EV penetration into lithium-ion batteries will increase nickel demand by 300% in the next ten years.
MARKET SEGMENTATION
Product Type:
• Class I Products: High purity nickel including briquettes, cathodes, and powders, crucial for battery production and aerospace applications. Leading with 44.8% market share in 2024.
• Class II Products: Not elaborated separately in the source.
Application:
• Stainless Steel and Alloy Steel: Dominates with 65.0% market share in 2024. Nickel enhances corrosion resistance and durability.
• Non-ferrous Alloys and Superalloys: Used in energy, aerospace, and heavy machine industries requiring corrosion resistance and strength.
• Electroplating: Not specifically described beyond category existence.
• Casting: Not specifically described beyond category existence.
• Batteries: Essential for EV lithium-ion battery cathodes, driving increasing demand.
• Others: Not detailed.
End-Use Industry:
• Transportation & Defense: Leading with 22.7% market share in 2024. Includes uses in automotive EV batteries, aircraft engines, naval armor plating, and military-grade batteries.
• Fabricated Metal Products: Not explicitly described aside from inclusion.
• Electrical & Electronics: Not specifically elaborated.
• Chemical: Not specifically elaborated.
• Petrochemical: Not specifically elaborated.
• Construction: Important in reinforcement bars and infrastructure projects.
• Consumer Durables: Not specifically elaborated.
• Industrial Machinery: Not specifically elaborated.
• Others: Not detailed.
REGIONAL INSIGHTS
In the nickel market, Asia Pacific ranks first in the world with an estimated share of 72.0% in 2024. This is due to rapid and sustained industrialization, full-fledged manufacturing hub in China, Japan, South Korea, and India, the production of electric vehicle batteries, pro-investment policies and subsidies by the governments, increasing demand for nickel as a battery metal and in consumer applications.
RECENT DEVELOPMENTS & NEWS
• January 2025: Herbert Smith Freehills gave advice to Japan's Sumitomo Corporation when they restructured USD 2.3 billion of debt near Madagascar's Ambatovy Nickel Project.
• September 2024: IGO stated nickel is core to IGO's diversified portfolio, and IGO will continue exploration and production consistent with transition trends.
• Anglo American announced in September 2024 that it would sell two Brazilian nickel mines to produce 38,000 tons combined each year.
• In July 2024, BHP announced suspension of operations at its Nickel West project and its West Musgrave project.
• A February 2027 review is not far from October 2024.
• June 2024: Vale SA announced a 3.3 billion USD figure.
• Investment plan grows nickel production and copper production in Brazil and Canada.
KEY PLAYERS
• Anglo American Plc
• BHP Group Limited
• Cunico Corporation
• Eramet Group
• Glencore Plc
• IGO Limited
• Jinchuan Group International Resources Co. Ltd.
• Norilsk Nickel
• Pacific Metal Company
• Queensland Nickel Group
• Sherritt International Corporation
• Sumitomo Corporation
• Terraframe Ltd.
• Vale S.A.
• Votorantim SA
CUSTOMIZATION NOTE
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as part of the customization.
Ask Our Expert & Browse Full Report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1843&flag=E
CONTACT US
IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA,
Email: sales@imarcgroup.com,
Tel No: (D) +91 120 433 0800,
United States: +1-201971-6302
ABOUT US
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Nickel Market Price | Industry Outlook, Trends and Forecast 2025-2033 here
News-ID: 4271240 • Views: …
More Releases from IMARC Group
South Korea Used Car Market Size, Share, Industry Overview, Trends and Forecast …
IMARC Group has recently released a new research study titled "South Korea Used Car Market Report by Vehicle Type (Hatchback, Sedan, Sports Utility Vehicle, and Others), Vendor Type (Organized, Unorganized), Fuel Type (Gasoline, Diesel, and Others), Sales Channel (Online, Offline), and Region 2025-2033", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Used Car Market…
South Korea Seafood Market Size, Share, Industry Overview, Trends and Forecast 2 …
IMARC Group has recently released a new research study titled "South Korea Seafood Market Size, Share, Trends and Forecast by Type, Form, Distribution Channel, and Region, 2025-2033", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Seafood Market Overview
The South Korea seafood market size was valued at USD 4.58 Billion in 2024 and is forecast…
South Korea Data Center Market Size, Share, Industry Overview, Trends and Foreca …
IMARC Group has recently released a new research study titled "South Korea Data Center Market Report by Data Center Size (Large, Massive, Medium, Mega, Small), Tier Type (Tier 1 and 2, Tier 3, Tier 4), Absorption (Non-Utilized, Utilized), and Region 2026-2034", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Data Center Market Overview
The South…
Mexico Application Security Market Size, Share, Industry Trends, Growth Factors …
IMARC Group has recently released a new research study titled "Mexico Application Security Market Size, Share, Trends and Forecast by Component, Type, Testing Type, Deployment Mode, Organization Size, Industry Vertical, and Region, 2025-2033", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
Market Overview
The Mexico application security market was valued at USD 124.8 Million in 2024 and…
More Releases for Nickel
Recycled Nickel Market Is Going to Boom |• Norilsk Nickel • BHP
Worldwide Market Reports has added a new research study on "Recycled Nickel Market" is projected to experience substantial growth in the coming years. This report provides a comprehensive analysis of the market landscape using an integrated approach that includes research methodology, market size evaluation, data compilation, and insights gathered from multiple credible sources.
The study covers critical market elements such as market dynamics, drivers, restraints, challenges, threats, growth opportunities, development trends,…
Nickel Prices 2025: US-China Trade Tensions Fuel Nickel Price Volatility
North America Nickel Prices Movement Q1 2025:
Nickel Prices in United States:
In the first quarter of 2025, nickel prices in the USA peaked at 20,900 USD/MT in March. This rise was supported by robust demand from the electric vehicle and stainless steel industries. Additionally, limited mining output and rising energy costs contributed to the increase. Currency fluctuations and geopolitical tensions also played a role in shaping the country's nickel pricing trends.
Get…
[ US Nickel Update] Nickel Market Size, Outlook & Outlook [2023-2028] | Nickel: …
Fortune Business Insights™ has recently released an in-depth analysis of global Nickel Market growth. The report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries
Short Description About Nickel Market:
The Global Nickel Market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. In 2022, the market is…
Nickel Hydroxide Market Forecast 2017 - 2025 | Norilsk Nickel, Nippy Chemicals, …
Global Nickel Hydroxide Market: Snapshot
Nickel hydroxide, an inorganic compound that produces toxic substances upon heating, is commonly used in rechargeable battery electrodes. Denoted by Ni(OH)2, it is highly useful for its insoluble chemical properties as well as strong redox attributes. Theophrastite, which is a mineral form of nickel hydroxide, was originally discovered back in 1980 in northern Greece. Nickel hydroxide dissolves with a very few chemicals such as amines and…
Global Nickel-Chromium-Cobalt Alloy Market 2019 - Nanoshel, Nickel Chromium Allo …
Nickel-Chromium-Cobalt Alloy is a class of elastic alloys used to make elastic components such as elastic sensitive components, energy storage components and frequency components in precision instrumentation.
Get Free Sample Copy of Report Here: https://bit.ly/2sDTmnW
Scope of the Report:
In addition to good elastic properties, the elastic alloy also has properties such as non-magnetic, microplastic deformation resistance, high hardness, low electrical resistivity, low modulus of elasticity modulus and low internal friction.
The worldwide market…
Nickel Hydroxide Market key players Sigma-Aldrich Co. LLC., Norilsk Nickel, ALT …
Nickel Hydroxide, generally used in rechargeable battery electrodes, by oxidation to nickel(III) oxide-hydroxide. Nickel hydroxide is denoted by Ni(OH)2 and is an insoluble chemical compound having strong redox properties. The mineral form of nickel hydroxide, also known as theophrastite, was first discovered in northern Greece in 1980. Nickel Hydroxide is a translucent emerald-green crystal, formed naturally in thin sheet form near the boundaries of chlorite and idocrase crystals.
Nickel hydroxide has…
