• Cat-intel
  • MedIntelliX
  • Consulting
  • Resources
  • About Us
  • News
  • Careers
  • Contact Us
  • Login
    • Request Free Sample ×
    Refined Nickel Market Research Report - Forecast till 2030 Infographic

    Kindly complete the form below to receive a free sample of this Report

    Leading companies partner with us for data-driven Insights

    clients tt-cursor

    Refined Nickel Market

    ID: MRFR/CnM/6396-HCR
    140 Pages
    Chitranshi Jaiswal
    September 2025

    Refined Nickel Market Research Report Information by Applications (Stainless Steel, Batteries and Plating), End-Use Industry (Industrial Machinery, Metallurgy, Automotive, Building and Construction), Region (Asia-Pacific, North America, Europe, Latin America and others) - Forecast till 2030

    Share:
    Download PDF ×

    We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

    Refined Nickel Market Research Report - Forecast till 2030 Infographic
    Purchase Options
    $ 4,950.0
    $ 5,950.0
    $ 7,250.0
    Compare License
    Table of Contents

    Refined Nickel Market Summary

    As per Market Research Future Analysis, the global refined nickel market is projected to grow at a CAGR of 4.8%, reaching over 2 billion tons from 2022 to 2030. Approximately 65% of nickel is consumed in the western world, primarily for austenitic stainless steel production, while 12% is used in superalloys, crucial for aerospace applications. The automotive sector significantly drives demand for nickel in stainless steel and batteries, alongside increasing needs in energy storage systems. The market faced challenges during the Covid-19 pandemic, leading to production halts and supply chain disruptions, but is recovering as restrictions ease. Key players are focusing on enhancing production capabilities to meet rising global demand.

    Key Market Trends & Highlights

    The refined nickel market is witnessing significant growth driven by various factors.

    • CAGR of 4.8% expected from 2022 to 2030.
    • 65% of nickel is used in stainless steel production.
    • Automotive sector's demand for nickel is surging due to electric vehicle manufacturing.
    • Asia-Pacific leads in nickel consumption, with Indonesia being the largest producer.

    Market Size & Forecast

    Market Size Over 2 billion tons
    CAGR 4.8% from 2022 to 2030
    Largest Regional Market Asia-Pacific

    Major Players

    Norilsk Nickel, Vale, BHP, Jinchuan Group International Resources Co. Ltd., Glencore

    Refined Nickel Market Trends

    The global refined nickel market is poised for growth, driven by increasing demand from the electric vehicle sector and renewable energy technologies, which may reshape the dynamics of supply and pricing.

    U.S. Geological Survey

    Refined Nickel Market Drivers

    Market Trends and Projections

    Expansion of Renewable Energy Technologies

    The Global Refined Nickel Market Industry is significantly influenced by the expansion of renewable energy technologies. Nickel plays a crucial role in energy storage systems, particularly in batteries used for solar and wind energy applications. As countries strive to meet renewable energy targets, the demand for refined nickel is likely to increase. The integration of nickel in energy storage solutions enhances the efficiency and reliability of renewable energy systems. This trend not only supports the growth of the refined nickel market but also aligns with global efforts to transition towards cleaner energy sources.

    Growing Demand in Aerospace and Defense Sectors

    The aerospace and defense sectors are increasingly reliant on high-performance materials, including refined nickel, due to its excellent strength-to-weight ratio and corrosion resistance. The Global Refined Nickel Market Industry benefits from this trend, as manufacturers seek materials that can withstand extreme conditions. As global defense budgets expand and air travel continues to recover, the demand for refined nickel is expected to rise. This sector's growth contributes to the overall market dynamics, further solidifying refined nickel's position as a critical material in advanced manufacturing processes.

    Technological Advancements in Nickel Extraction

    Technological innovations in nickel extraction and processing are transforming the Global Refined Nickel Market Industry. Enhanced methods, such as hydrometallurgical processes, improve the efficiency of nickel recovery from ores, reducing costs and environmental impact. These advancements not only increase the supply of refined nickel but also make it more sustainable. As industries seek to minimize their carbon footprint, the adoption of these technologies is likely to accelerate. Consequently, the market is poised for growth, as companies invest in modernizing their operations to align with global sustainability goals, thereby ensuring a steady supply of refined nickel for various applications.

    Increasing Demand from Electric Vehicle Production

    The Global Refined Nickel Market Industry experiences a notable surge in demand driven by the electric vehicle (EV) sector. Nickel is a critical component in lithium-ion batteries, which are essential for EVs. As automakers ramp up production to meet consumer demand for sustainable transportation, the need for refined nickel is projected to rise significantly. In 2024, the market is valued at 1.52 USD Billion, with expectations to reach 2.53 USD Billion by 2035. This growth indicates a compound annual growth rate (CAGR) of 4.75% from 2025 to 2035, highlighting the pivotal role of refined nickel in the transition to electric mobility.

    Regulatory Support for Sustainable Mining Practices

    Regulatory frameworks promoting sustainable mining practices are shaping the Global Refined Nickel Market Industry. Governments worldwide are implementing stricter environmental regulations, encouraging companies to adopt more sustainable extraction methods. This shift not only addresses environmental concerns but also enhances the reputation of the nickel industry. As companies comply with these regulations, they are likely to invest in cleaner technologies, which could lead to increased production of refined nickel. This regulatory support fosters a more sustainable market environment, potentially attracting investments and driving growth in the refined nickel sector.

    Market Segment Insights

    Regional Insights

    Key Companies in the Refined Nickel Market market include

    Industry Developments

    Future Outlook

    Refined Nickel Market Future Outlook

    The Global Refined Nickel Market is projected to grow at a 4.75% CAGR from 2024 to 2035, driven by rising demand in electric vehicle batteries and renewable energy technologies.

    New opportunities lie in:

    • Invest in advanced nickel processing technologies to enhance yield and reduce costs.
    • Develop strategic partnerships with electric vehicle manufacturers for tailored nickel supply solutions.
    • Explore recycling initiatives to reclaim nickel from spent batteries, addressing sustainability concerns.

    By 2035, the refined nickel market is expected to achieve robust growth, positioning itself as a cornerstone of the green energy transition.

    Market Segmentation

    Report Scope

    Report Attribute/Metric Details
      Market Size 2022: USD 2 Million
      CAGR   4% (2022-2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   application, end-use industry, and region
      Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Norilsk Nickel (Russia), Vale (Brazil), BHP (Australia), Jinchuan Group International Resources Co. Ltd (China), Sumitomo Metal Mining Co.(Japan), Anglo American (US), Ambatovy (US), Sherritt International Corporation (Canada), Minara Resources (Australia), and Glencore (Switzerland).
      Key Market Opportunities   The increasing demand for nickel in the manufacturing of batteries used in electric vehicles (EVs) is expected to drive the global market
      Key Market Drivers   The demand for stainless steel and alloys of stainless steel in various end-use industries such as industrial machinery, automotive, building and construction, and others.

    Market Highlights

    Author
    Chitranshi Jaiswal
    Research Analyst Level I

    In her 3 years of experience in the market research field, she has handled critical cross-domain projects. She has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.She holds an engineering degree and is an MBA professional from a well-known university, capable of evaluating the market and competitive conditions. An exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. Proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. Generated business through active client and project development, networking, and high-quality responses. Her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.

    Get In Touch
    Leave a Comment

    FAQs

    At what CAGR is the refined nickel market projected to grow during the forecast period?

    The growth rate of the global refined nickel market is at a CAGR of 4.8%, with a value of more than 2 billion tons over the estimated forecasting period.

    Which region is projected to lead the refined nickel market?

    The APAC region is projected to lead the refined nickel market.

    Which application segment will lead the refined nickel market?

    Stainless steel will lead the refined nickel market.

    Which end use industry will dominate the refined nickel market?

    Industrial machinery will dominate the refined nickel market.

    What are the key factors driving the refined nickel market growth?

    Increasing use in various end use industries and growing industrialization in developing economies are the key factors driving the refined nickel market growth.

    1. Executive Summary
    2. Scope of the Report
      1. Market Definition
      2. Scope of the Study
        1. Research Objectives
        2. Assumptions & Limitations
      3. Market Structure
    3. Market
    4. Research Methodology
      1. Research Process
      2. Secondary Research
      3. Primary Research
      4. Forecast Model
    5. Market Landscape
    6. Five Forces Analysis
      1. Threat of New Entrants
        1. Bargaining power
    7. of Buyers
      1. Bargaining power of Suppliers
        1. Threat of Substitutes
        2. Segment Rivalry
      2. Value Chain/Supply Chain of Global Refined
    8. Nickel Market
      1. Pricing Analysis, By Region
      2. Trade Analysis4
    9. Industry Overview of Global Refined Nickel Market
      1. Introduction
    10. Growth Drivers
      1. Impact Analysis
      2. Market Challenges
    11. Market
    12. Trends
      1. Introduction
      2. Growth Trends
      3. Impact Analysis
    13. Global Refined Nickel Market, by Application
      1. Introduction
    14. Stainless Steel
      1. Market Estimates & Forecast, 2020–2027
    15. Market Estimates & Forecast, by Region, 2020–2027
      1. Non-Ferrous
    16. Alloy
      1. Market Estimates & Forecast, 2020–2027
        1. Market
    17. Estimates & Forecast, by Region, 2020–2027
      1. Plating
    18. Market Estimates & Forecast, 2020–2027
      1. Market Estimates &
    19. Forecast, by Region, 2020–2027
      1. Alloys & Steel Casting
    20. Market Estimates & Forecast, 2020–2027
      1. Market Estimates &
    21. Forecast, by Region, 2020–2027
      1. Batteries
        1. Market Estimates
    22. & Forecast, 2020–2027
      1. Market Estimates & Forecast, by Region,
      2. Others
        1. Market Estimates & Forecast, 2020–2027
        2. Market Estimates & Forecast, by Region, 2020–2027
    23. Global
    24. Refined Nickel Market, by End-Use Industry
      1. Introduction
      2. Industrial
    25. Machinery
      1. Market Estimates & Forecast, 2020–2027
    26. Market Estimates & Forecast, by Region, 2020–2027
      1. Metallurgy
        1. Market Estimates & Forecast, 2020–2027
        2. Market Estimates
    27. & Forecast, by Region, 2020–2027
      1. Automotive & Transportation
        1. Market Estimates & Forecast, 2020–2027
        2. Market Estimates
    28. & Forecast, by Region, 2020–2027
      1. Electronics
        1. Market
    29. Estimates & Forecast, 2020–2027
      1. Market Estimates & Forecast,
    30. by Region, 2020–2027
      1. Others
        1. Market Estimates & Forecast,
        2. Market Estimates & Forecast, by Region, 2020–2027
    31. Global Refined Nickel Market, by Region
      1. Introduction
      2. North
    32. America
      1. Market Estimates & Forecast, 2020–2027
        1. Market
    33. Estimates & Forecast, by Application, 2020–2027
      1. Market Estimates
    34. & Forecast, by End-Use Industry, 2020–2027
      1. US
    35. Market Estimates & Forecast, 2020–2027
      1. Market Estimates &
    36. Forecast, by Application, 2020–2027
      1. Market Estimates & Forecast,
    37. by End-Use Industry, 2020–2027
      1. Canada
        1. Market Estimates
    38. & Forecast, 2020–2027
      1. Market Estimates & Forecast, by
    39. Application, 2020–2027
      1. Market Estimates & Forecast, by End-Use
    40. Industry, 2020–2027
      1. Europe
        1. Market Estimates & Forecast,
        2. Market Estimates & Forecast, by Application, 2020–2027
        3. Market Estimates & Forecast, by End-Use Industry, 2020–2027
        4. Germany
    41. Market Estimates & Forecast, by End-Use Industry, 2020–2027
    42. France
      1. Market Estimates & Forecast, 2020–2027
    43. Market Estimates & Forecast, by Application, 2020–2027
      1. Market
    44. Estimates & Forecast, by End-Use Industry, 2020–2027
      1. Italy
        1. Market Estimates & Forecast, 2020–2027
    45. & Forecast, by Application, 2020–2027
      1. Market Estimates &
    46. Forecast, by End-Use Industry, 2020–2027
      1. Spain
        1. Market
    47. Estimates & Forecast, 2020–2027
      1. Market Estimates & Forecast,
    48. by Application, 2020–2027
      1. Market Estimates & Forecast, by
    49. End-Use Industry, 2020–2027
      1. UK
        1. Market Estimates &
    50. Forecast, 2020–2027
      1. Market Estimates & Forecast, by Application,
        1. Market Estimates & Forecast, by End-Use Industry,
        2. Russia
        3. Poland
    51. Market Estimates & Forecast, by End-Use Industry, 2020–2027
      1. Asia-Pacific
        1. Market Estimates & Forecast, 2020–2027
        2. Market Estimates
    52. & Forecast, by Application, 2020–2027
      1. Market Estimates &
    53. Forecast, by End-Use Industry, 2020–2027
      1. China
        1. Market
    54. Estimates & Forecast, 2020–2027
      1. Market Estimates & Forecast,
    55. by Application, 2020–2027
      1. Market Estimates & Forecast, by
    56. End-Use Industry, 2020–2027
      1. India
        1. Market Estimates
    57. & Forecast, 2020–2027
      1. Market Estimates & Forecast, by
    58. Application, 2020–2027
      1. Market Estimates & Forecast, by End-Use
    59. Industry, 2020–2027
      1. Japan
        1. Market Estimates & Forecast,
        2. Australia
    60. Market Estimates & Forecast, by End-Use Industry, 2020–2027
    61. New Zealand
      1. Market Estimates & Forecast, 2020–2027
    62. Market Estimates & Forecast, by Application, 2020–2027
      1. Market
    63. Estimates & Forecast, by End-Use Industry, 2020–2027
      1. Rest of
    64. Asia-Pacific
      1. Market Estimates & Forecast, 2020–2027
    65. Market Estimates & Forecast, by Application, 2020–2027
      1. Market
    66. Estimates & Forecast, by End-Use Industry, 2020–2027
      1. Middle East
    67. & Africa
      1. Market Estimates & Forecast, 2020–2027
    68. Market Estimates & Forecast, by Application, 2020–2027
      1. Market
    69. Estimates & Forecast, by End-Use Industry, 2020–2027
      1. Turkey
        1. Market Estimates & Forecast, 2020–2027
    70. & Forecast, by Application, 2020–2027
      1. Market Estimates &
    71. Forecast, by End-Use Industry, 2020–2027
      1. Israel
        1. Market
    72. Estimates & Forecast, 2020–2027
      1. Market Estimates & Forecast,
    73. by Application, 2020–2027
      1. Market Estimates & Forecast, by
    74. End-Use Industry, 2020–2027
      1. North Africa
        1. Market Estimates
    75. & Forecast, 2020–2027
      1. Market Estimates & Forecast, by
    76. Application, 2020–2027
      1. Market Estimates & Forecast, by End-Use
    77. Industry, 2020–2027
      1. GCC
        1. Market Estimates & Forecast,
        2. Rest of the Middle East & Africa
    78. Forecast, 2020–2027
      1. Market Estimates & Forecast, by Application,
        1. Market Estimates & Forecast, by End-Use Industry,
      2. Latin America
        1. Market Estimates & Forecast,
        2. Market Estimates & Forecast, by Application, 2020–2027
        3. Market Estimates & Forecast, by End-Use Industry, 2020–2027
        4. Brazil
    79. Market Estimates & Forecast, by End-Use Industry, 2020–2027
    80. Argentina
      1. Market Estimates & Forecast, 2020–2027
    81. Market Estimates & Forecast, by Application, 2020–2027
      1. Market
    82. Estimates & Forecast, by End-Use Industry, 2020–2027
      1. Mexico
        1. Market Estimates & Forecast, 2020–2027
    83. Estimates & Forecast, by Application, 2020–2027
      1. Market Estimates
    84. & Forecast, by End-Use Industry, 2020–2027
      1. Rest of Latin America
        1. Market Estimates & Forecast, 2020–2027
    85. Estimates & Forecast, by Application, 2020–2027
      1. Market Estimates
    86. & Forecast, by End-Use Industry, 2020–2027
    87. Company Landscape
    88. Company Profiles
      1. Norilsk Nickel
        1. Company Overview
        2. Application/Business Segment Overview
        3. Financial Updates
        4. Key Developments
      2. Vale
        1. Company Overview
    89. Application/Business Segment Overview
      1. Financial Updates
    90. Key Developments
      1. BHP
        1. Company Overview
        2. Application/Business
    91. Segment Overview
      1. Financial Updates
        1. Key Developments
    92. Jinchuan Group International Resources Co. Ltd
      1. Company Overview
    93. Application/Business Segment Overview
      1. Financial Updates
    94. Key Developments
      1. Sumitomo Metal Mining Co.
        1. Company Overview
        2. Application/Business Segment Overview
        3. Financial Updates
        4. Key Developments
      2. Anglo American
        1. Company Overview
        2. Application/Business Segment Overview
        3. Financial Updates
        4. Key Developments
      3. Ambatovy
        1. Company Overview
    95. Application/Business Segment Overview
      1. Financial Updates
    96. Key Developments
      1. Sherritt International Corporation
        1. Company
    97. Overview
      1. Application/Business Segment Overview
        1. Financial
    98. Updates
      1. Key Developments
      2. Minara Resources
        1. Company
    99. Overview
      1. Application/Business Segment Overview
        1. Financial
    100. Updates
      1. Key Developments
      2. Glencore
        1. Company Overview
        2. Application/Business Segment Overview
        3. Financial Updates
        4. Key Developments
    101. Conclusion
    102. Global Refined Nickel Market, by Region, 2020–2027
    103. Refined Nickel Market, by Country, 2020–2027
    104. Nickel Market, by Country, 2020–2027
    105. Market, by Country, 2020–2027
    106. Nickel Market, by Country, 2020–2027
    107. Market, by Country, 2020–2027
    108. Market, by Region, 2020–2027
    109. Market, by Country, 2020–2027
    110. Market, by Country, 2020–2027
    111. Market, by Country, 2020–2027
    112. Nickel Application Market, by Country, 2020–2027
    113. Refined Nickel Application Market, by Country, 2020–2027
    114. America: Refined Nickel End-Use Industry Market, by Country, 2020–2027
    115. by Country, 2020–2027
    116. Europe: Refined Nickel Market, by Application, 2020–2027
    117. Refined Nickel Market, by End-Use Industry, 2020–2027
    118. Refined Nickel Market, by Country, 2020–2027
    119. Nickel Market, by Application, 2020–2027
    120. Nickel Market, by End-Use Industry, 2020–2027
    121. Africa: Refined Nickel Market, by Country, 2020–2027
    122. East & Africa Refined Nickel Market, by Application, 2020–2027
    123. Middle East & Africa: Refined Nickel Market, by End-Use Industry, 2020–2027
    124. Nickel Market
    125. Share of Global Refined Nickel Market in 2020, by Country (%)
    126. Refined Nickel Market, 2020–2027,
    127. Share of Global Refined Nickel Market, by Application, 2020–2027
    128. Sub-Segments of End-Use Industry
    129. Size, by End-Use Industry, 2020
    130. by End-Use Industry, 2020–2027

    Refined Nickel Market Segmentation

    Market Segmentation Overview

    • Detailed segmentation data will be available in the full report
    • Comprehensive analysis by multiple parameters
    • Regional and country-level breakdowns
    • Market size forecasts by segment
    Refined Nickel Market Research Report - Forecast till 2030 Infographic
    Free Sample Request

    Kindly complete the form below to receive a free sample of this Report

    Related Reports

    No regional reports available for this market.

    Customer Strories

    “I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.”

    Victoria Milne Founder
    Case Study

    Chemicals and Materials

    Global Magnesium Sulfate Market – Forecast till 2027