The Nickel Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Nickel Market?
The nickel market has seen significant growth in the past. Its value increased from $39.09 billion in 2024 to $42.78 billion in 2025, with a compound annual growth rate of 9.4%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Nickel Industry?
The nickel market is projected to reach $60.69 billion in 2029, with a compound annual growth rate (CAGR) of 9.1%.
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What are the Key Growth Drivers Fueling the Nickel Market?
The key drivers in the nickel market are:
• Rising urbanization contributing to increased need for nickel
• Growing demand for electric vehicles, which use nickel in their batteries
• Increased government support for nickel processing
• Focus on setting up new plants for nickel processing and sustainable procurement frameworks.
Global Market Segmentation: Identifying Major Nickel Industry Segments
The nickel market covered in this report is segmented –
1) By Type: Pentlantide (Sulfide Ore), Laterite
2) By Mining Type: Underground Mining, Surface Mining
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What are the Emerging Trends Shaping the Future of the Nickel Market?
The key trends in the nickel market are:
• There is an emerging trend of increased investments in setting up new plants for nickel processing.
• The introduction of sustainable procurement frameworks in mining and nickel processing shows an increasing trend towards environmentally friendly practices.
• The market sees a surge in the introduction of new nickel products.
• Strategic partnerships and mergers & acquisitions are becoming more prevalent to expand both product/service portfolios and worldwide presence.
Who Are the Top Competitors & Leading Players in the Nickel Market?
Major companies in the nickel market are:
• Glencore
• Vale
• Sumitomo Metal Mining Co. Ltd
• Erame
• Norilsk Nickel Inc.
• BHP
• Anglo American
• Pacific Metal Company
• Sherritt International Corporation
• INDEPENDENCE GROUP NL
• Tsingshan Holdings Group
• Hindustan Copper Limited
• Jinchuan Group International Resources Co. Ltd
• Huayou Cobalt Co. Ltd
• CNGR Advanced Material Co., Ltd
• Rigqueza International Pte Ltd
• Jindal Stainless Limited
• Vedanta Resources Limited
• Alliance Nickel Limited
• Western Areas Limited
• Jervois Mining
• National Aluminum Company Limited
• Nicomet Industries Limited
• Deutsche Nickel GmbH
• Solway Investment Group Limited
• Société Le Nickel (SLN)
• Sumic Nickel Netherlands B.V
• North American Nickel
• Talon Metals
• PolyMet Mining Corp
• First Quantum Minerals Ltd
• Royal Nickel Corporation
• Turnagain Nickel
• Lundin Mining Corporation
• Wallbridge Mining Co. Ltd
• Atlantic Nickel UK
• Brazilian Nickel PLC
• Mirabela Nickel Ltd
• Mubadala Investment Company
• Ma'aden
• Siyanda Resources
• African Rainbow Minerals
• Africo Resources
• Impala Platinum
• Sibanye Stillwater
Regional Dominance: Which Area Leads the Global Template Market?
Western Europe was the largest region in the nickel market in 2024
