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Press Release:

Global Nickel Market to Grow at 5.57% During 2022-2027, Impelled by Increasing Utilization in Oil and Gas Industry

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Nickel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global nickel market size reached US$ 31.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 43.8 Billion by 2027, exhibiting a growth rate (CAGR) of 5.57% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Nickel, denoted by Ni, is a durable, lustrous and silvery-white metal extracted from nickel sulfide and garnierite mines. It has high electro-magnetic and malleable properties, which aid in casting iron products and manufacturing stainless steel and non-ferrous alloys. Nickel and its derivatives are commonly used in water purification and disposal applications as they require low maintenance and offer water-resistance to the products. When mixed with copper, it is used in desalination plants for the conversion of seawater into freshwater. 

The rising demand for corrosion-resistant alloys in the oil and gas industry is one of the key factors driving the growth of the market. Furthermore, the development of high-density nickel-based batteries to meet the power requirements of the growing population is also contributing to the market growth. These batteries serve as a heat- and corrosion-resistant alternative for rechargeable batteries made by using lithium-ion. The advent of electric vehicles is favoring the market growth further. Nickel is also used in wind turbines and solar panels for generating electricity. Furthermore, the rising demand for stainless steel products, including spoons, forks, saucepans, kitchen skins, is driving the product demand. Nickel-based products are also being used for various marine, architectural and construction applications. Other factors, such as technological advancements in the production of nickel through green mining procedures, while incorporating the principles of hydrometallurgy, are expected to drive the market in the upcoming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global nickel market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, application and end-use industry.

Breakup by Product Type:

  • Class I Products
  • Class II Products
     

Breakup by Application:

  • Stainless Steel and Alloy Steel
  • Non-ferrous Alloys and Superalloys
  • Electroplating
  • Casting
  • Batteries
  • Others
     

Breakup by End-Use Industry:

  • Transportation & Defense
  • Fabricated Metal Products
  • Electrical & Electronics
  • Chemical
  • Petrochemical
  • Construction
  • Consumer Durables
  • Industrial Machinery
  • Others
     

Breakup by Region:

  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • North America
    • United States
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Others
  • Middle East and Africa
    • Turkey
    • Saudi Arabia
    • Iran
    • United Arab Emirates
    • Others
       

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being 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. and Votorantim SA.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units Billion US$
Segment Coverage Product Type, Application, End-Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates
Companies Covered 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. and Votorantim SA
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology 
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1    Overview
    4.2    Key Industry Trends
5   Global Nickel Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Product Type
    6.1    Class I Products
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Class II Products
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Application
    7.1    Stainless Steel and Alloy Steel
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Non-ferrous Alloys and Superalloys
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Electroplating
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Casting
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Batteries
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Others
        7.6.1 Market Trends
        7.6.2 Market Forecast
8   Market Breakup by End-Use Industry
    8.1    Transportation & Defense
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Fabricated Metal Products
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Electrical & Electronics
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Chemical
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Petrochemical
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Construction
        8.6.1 Market Trends
        8.6.2 Market Forecast
    8.7    Consumer Durables
        8.7.1 Market Trends
        8.7.2 Market Forecast
    8.8    Industrial Machinery
        8.8.1 Market Trends
        8.8.2 Market Forecast
    8.9    Others
        8.9.1 Market Trends
        8.9.2 Market Forecast
9   Market Breakup by Region
    9.1    Asia Pacific
        9.1.1 China
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Japan
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
        9.1.3 India
           9.1.3.1 Market Trends
           9.1.3.2 Market Forecast
        9.1.4 South Korea
           9.1.4.1 Market Trends
           9.1.4.2 Market Forecast
        9.1.5 Australia
           9.1.5.1 Market Trends
           9.1.5.2 Market Forecast
        9.1.6 Indonesia
           9.1.6.1 Market Trends
           9.1.6.2 Market Forecast
        9.1.7 Others
           9.1.7.1 Market Trends
           9.1.7.2 Market Forecast
    9.2    Europe
        9.2.1 Germany
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 France
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 United Kingdom
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 Italy
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Spain
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Russia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    North America
        9.3.1 United States
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 Canada
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Argentina
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
        9.4.4 Colombia
           9.4.4.1 Market Trends
           9.4.4.2 Market Forecast
        9.4.5 Chile
           9.4.5.1 Market Trends
           9.4.5.2 Market Forecast
        9.4.6 Peru
           9.4.6.1 Market Trends
           9.4.6.2 Market Forecast
        9.4.7 Others
           9.4.7.1 Market Trends
           9.4.7.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Turkey
           9.5.1.1 Market Trends
           9.5.1.2 Market Forecast
        9.5.2 Saudi Arabia
           9.5.2.1 Market Trends
           9.5.2.2 Market Forecast
        9.5.3 Iran
           9.5.3.1 Market Trends
           9.5.3.2 Market Forecast
        9.5.4 United Arab Emirates
           9.5.4.1 Market Trends
           9.5.4.2 Market Forecast
        9.5.5 Others
           9.5.5.1 Market Trends
           9.5.5.2 Market Forecast
10  SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11  Value Chain Analysis
    11.1    Overview
    11.2    Mining and Milling Companies
    11.3    Metal Manufacturers
    11.4    Alloy Manufacturers
    11.5    Distribution and Export
    11.6    End-Use Industries
    11.7    Recycling Companies
12  Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13  Competitive Landscape
    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    Anglo American Plc
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio 
           13.3.1.3 Financials
           13.3.1.4 SWOT Analysis
        13.3.2    BHP Group Limited
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio 
        13.3.3   Cunico Corporation
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio 
        13.3.4    Eramet Group
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio 
        13.3.5    Glencore Plc
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio 
        13.3.6    IGO Limited
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio 
           13.3.6.3 Financial
        13.3.7    Jinchuan Group International Resources Co. Ltd.
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio 
        13.3.8    Norilsk Nickel
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio 
        13.3.9    Pacific Metal Company
           13.3.9.1 Company Overview
           13.3.9.2 Product Portfolio 
        13.3.10    Queensland Nickel Group
           13.3.10.1 Company Overview
           13.3.10.2 Product Portfolio 
        13.3.11    Sherritt International Corporation
           13.3.11.1 Company Overview
           13.3.11.2 Product Portfolio 
           13.3.11.3 Financials
           13.3.11.4 SWOT Analysis
        13.3.12    Sumitomo Corporation 
           13.3.12.1 Company Overview
           13.3.12.2 Product Portfolio 
           13.3.12.3 Financials
           13.3.12.4 SWOT Analysis
        13.3.13    Terraframe Ltd.
           13.3.13.1 Company Overview
           13.3.13.2 Product Portfolio 
        13.3.14    Vale S.A.
           13.3.14.1 Company Overview
           13.3.14.2 Product Portfolio 
           13.3.14.3 Financials
           13.3.14.4 SWOT Analysis
        13.3.15    Votorantim SA
           13.3.15.1 Company Overview
           13.3.15.2 Product Portfolio 

List of Figures

Figure 1: Global: Nickel Market: Major Drivers and Challenges
Figure 2: Global: Nickel Market: Value Trends (in Billion US$), 2016-2021
Figure 3: Global: Nickel Market: Breakup by Product Type (in %), 2021
Figure 4: Global: Nickel Market: Breakup by Application (in %), 2021
Figure 5: Global: Nickel Market: Breakup by End-Use Industry (in %), 2021
Figure 6: Global: Nickel Market: Breakup by Region (in %), 2021
Figure 7: Global: Nickel Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 8: Global: Nickel (Class I Products) Market: Value Trends (in Million US$), 2016 & 2021
Figure 9: Global: Nickel (Class I Products) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 10: Global: Nickel (Class II Products) Market: Value Trends (in Million US$), 2016 & 2021
Figure 11: Global: Nickel (Class II Products) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 12: Global: Nickel (Stainless Steel and Alloy Steel) Market: Value Trends (in Million US$), 2016 & 2021
Figure 13: Global: Nickel (Stainless Steel and Alloy Steel) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 14: Global: Nickel (Non-ferrous Alloys and Superalloys) Market: Value Trends (in Million US$), 2016 & 2021
Figure 15: Global: Nickel (Non-ferrous Alloys and Superalloys) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 16: Global: Nickel (Electroplating) Market: Value Trends (in Million US$), 2016 & 2021
Figure 17: Global: Nickel (Electroplating) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 18: Global: Nickel (Casting) Market: Value Trends (in Million US$), 2016 & 2021
Figure 19: Global: Nickel (Casting) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 20: Global: Nickel (Batteries) Market: Value Trends (in Million US$), 2016 & 2021
Figure 21: Global: Nickel (Batteries) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 22: Global: Nickel (Other Applications) Market: Value Trends (in Million US$), 2016 & 2021
Figure 23: Global: Nickel (Other Applications) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 24: Global: Nickel (Transportation & Defense) Market: Value Trends (in Million US$), 2016 & 2021
Figure 25: Global: Nickel (Transportation & Defense) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 26: Global: Nickel (Fabricated Metal Products) Market: Value Trends (in Million US$), 2016 & 2021
Figure 27: Global: Nickel (Fabricated Metal Products) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 28: Global: Nickel (Electrical & Electronics) Market: Value Trends (in Million US$), 2016 & 2021
Figure 29: Global: Nickel (Electrical & Electronics) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 30: Global: Nickel (Chemical) Market: Value Trends (in Million US$), 2016 & 2021
Figure 31: Global: Nickel (Chemical) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 32: Global: Nickel (Petrochemical) Market: Value Trends (in Million US$), 2016 & 2021
Figure 33: Global: Nickel (Petrochemical) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 34: Global: Nickel (Construction) Market: Value Trends (in Million US$), 2016 & 2021
Figure 35: Global: Nickel (Construction) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 36: Global: Nickel (Consumer Durables) Market: Value Trends (in Million US$), 2016 & 2021
Figure 37: Global: Nickel (Consumer Durables) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 38: Global: Nickel (Industrial Machinery) Market: Value Trends (in Million US$), 2016 & 2021
Figure 39: Global: Nickel (Industrial Machinery) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 40: Global: Nickel (Other Industries) Market: Value Trends (in Million US$), 2016 & 2021
Figure 41: Global: Nickel (Other Industries) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 42: Asia Pacific: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 43: Asia Pacific: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 44: China: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 45: China: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 46: Japan: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 47: Japan: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 48: India: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 49: India: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 50: South Korea: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 51: South Korea: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 52: Australia: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 53: Australia: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 54: Indonesia: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 55: Indonesia: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 56: Others: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 57: Others: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 58: Europe: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 59: Europe: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 60: Germany: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 61: Germany: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 62: France: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 63: France: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 64: United Kingdom: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 65: United Kingdom: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 66: Italy: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 67: Italy: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 68: Spain: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 69: Spain: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 70: Russia: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 71: Russia: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 72: Others: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 73: Others: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 74: North America: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 75: North America: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 76: United States: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 77: United States: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 78: Canada: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 79: Canada: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 80: Latin America: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 81: Latin America: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 82: Brazil: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 83: Brazil: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 84: Mexico: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 85: Mexico: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 86: Argentina: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 87: Argentina: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 88: Colombia: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 89: Colombia: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 90: Chile: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 91: Chile: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 92: Peru: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 93: Peru: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 94: Others: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 95: Others: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 96: Middle East and Africa: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 97: Middle East and Africa: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 98: Turkey: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 99: Turkey: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 100: Saudi Arabia: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 101: Saudi Arabia: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 102: Iran: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 103: Iran: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 104: United Arab Emirates: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 105: United Arab Emirates: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 106: Others: Nickel Market: Value Trends (in Million US$), 2016 & 2021
Figure 107: Others: Nickel Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 108: Global: Nickel Industry: SWOT Analysis
Figure 109: Global: Nickel Industry: Value Chain Analysis
Figure 110: Global: Nickel Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Nickel Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Nickel Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
Table 3: Global: Nickel Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Nickel Market Forecast: Breakup by End-Use Industry (in Million US$), 2022-2027
Table 5: Global: Nickel Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Nickel Market: Competitive Structure
Table 7: Global: Nickel Market: Key Players


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Key Questions Answered in This Report

The global nickel market was valued at US$ 31.5 Billion in 2021.

We expect the global nickel market to exhibit a CAGR of 5.57% during 2022-2027.

The rising demand for high-density nickel-based batteries across various sectors to meet the power
requirements, owing to their heat- and corrosion-resistant properties, is primarily driving the global
nickel market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations, resulting in the temporary closure of numerous
manufacturing units for nickel.

Based on the product type, the global nickel market can be categorized into class I products and
class II products, where class I products exhibit clear dominance in the market.

Based on the application, the global nickel market has been segmented into stainless steel and alloy
steel, non-ferrous alloys and superalloys, electroplating, casting, batteries, and others. Among these,
stainless steel and alloy steel currently represents the largest market share.

Based on the end-use industry, the global nickel market can be bifurcated into transportation &
defense, fabricated metal products, electrical & electronics, chemical, petrochemical, construction,
consumer durables, industrial machinery, and others. Currently, the transportation & defense
industry accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle
East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

Some of the major players in the global nickel market include 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., and Votorantim SA.

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