Nickel Market size to reach US$ 43.8 Billion by 2027 | Growth rate (CAGR of 5.57%)

October 19 19:05 2022
Nickel Market size to reach US$ 43.8 Billion by 2027 | Growth rate (CAGR of 5.57%)
According to IMARC Group’s latest report the nickel market to reach US$ 43.8 Billion by 2027, exhibiting a growth rate (CAGR) of 5.57% during 2022-2027.

According to IMARC Group’s latest report, titled “Nickel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, 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. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Nickel (Ni) is a naturally occurring silvery-white, durable, malleable, and lustrous metallic element. It is extracted from nickel sulfide, pentlandite, pyrrhotite, millerite, and garnierite mines through conventional roasting and reduction procedures. It has excellent electromagnetic and malleable and other physical and chemical properties. Therefore, nickel finds extensive applications in multiple non-ferrous alloys, particularly chromium and other metals, to produce stainless and heat-resistant steels. Apart from this, nickel and its compounds possess minimal maintenance requirements and water-resilient characteristics. As a result, they are further utilized in desalination facilities to convert saltwater to freshwater when combined with copper and in water purification and disposal applications.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Nickel Market Trends:

The increasing demand for stainless steel by various industrial verticals and the fueling consumer spending on Ni-based items, such as alloys and batteries, are primarily driving the global nickel market. Moreover, escalating need for lightweight electric vehicles (EVs) due to rising greenhouse emissions and environmental consciousness are supplementing the Nickel uptake to manufacture lithium-ion batteries in the automotive industry, which is favoring the market growth. Additionally, improving mining, smelting, refining technologies, and fueling exploratory activities are impelling the market growth. Furthermore, the large-scale usage of nickel in wind turbines and solar panels for generating electricity and in several marines, architectural, and construction applications is propelling the market forward. Besides this, the advent of mining, smelting, and refining solutions to allow the processing of lower-grade Ni ore and growing exploratory operations by mining co-operations are contributing to the market growth.

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined with some of the key players.

  • Anglo American plc
  • BHP
  • Cunico Corporation
  • Eramet
  • Glencore
  • Independence Group
  • Jinchuan Group International Resources Co. Ltd
  • Nornickel
  • Pacific Metal Company
  • Queensland Nickel
  • Sherritt International
  • Sumitomo Corporation
  • Terrafame Ltd.
  • Vale
  • Votorantim Group


Key Market Segmentation:

The 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:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)


Explore full report with TOC & List of Figures

Key highlights of the report:                                                    

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape


If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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