Nickel Global Market Forecast to 2034, Historical Data of 2019-2024, Supply and Demand, Volume and Value, Manufacturers, Prices, Upstream and Downstream Trends

About the market

• nickel's primary use is in the production of stainless and alloy steels; it is also critical for creating superalloys and for protective metal plating
• furthermore, demand from the battery sector is growing significantly, as nickel is a key component in the cathodes of many lithium-ion batteries; nickel is also essential for low-emissions power generation, including wind and geothermal energy
• after a number of years with steady GAGRs, the global nickel market turned into an impressive growth due to the increasing use of nickel-rich EV batteries

• nickel is sourced from two primary ores: laterite and sulphide; laterite deposits are concentrated in Indonesia, New Caledonia, Philippines and Australia, while sulphide ores are found mainly in Australia, Canada, Russia and China
• Indonesia leads the world in nickel output (mined ore and refined primary nickel products), accounting for a significant portion of global output; in turn, China dominates nickel sulphate supply
• despite the increases in Indonesian mined supply, the country is actively implementing a nickel processing policy with aim to transform Indonesia from a raw material exporter into a significant player in the global nickel value chain by requiring companies to build smelters and processing plants within the country
• Asia now leads the world in primary nickel usage, driven by continuous growth in China and emerging demand from Indonesia
• China is the world's dominant nickel consumer, accounting for 60% of global demand, primarily for its stainless steel sector; but China’s battery related nickel consumption is also rising substantially
• Indonesia follows is as the second-largest consumer, with its entire demand growth over the past decade driven by stainless steel production
• other significant markets include the United States, European Union (Germany, Italy, Spin, Belgium) and Russia

• global nickel demand is foreseen to demonstrate CAGR of 4.6% over the period under review backed by a wide range of supporting factors
• the main application of nickel has been and will continue to be the production of stainless steel (it is forecasted to account for 46% of total global consumption within the 10-year period)
• looking to the future, demand from the battery sector will reshape global supply chains; by 2034, batteries are expected to account for 35% of global nickel use
• the expansion of Indonesia's mining, refining and nickel sulphate production capacity will reinforce its critical position in the global nickel supply chain

Key Questions Answered in the Report

• What were the main trends of global nickel market in 2019-2024?
• What was global nickel supply/demand balance in 2019-2024?
• What are the main players in global nickel market?
• What drivers and challenges will determine the development of the global nickel market in the next 5-10 years?
• What will be the possible restrains for global nickel market growth?
• What will be the CAGRs for global nickel supply and demand?
• Are there nickel projects to be completed in 2025-2034?
• And many other

Report Scope

*Please note that "Nickel Market Forecast, Trends, Supply and Demand, Prices, Projects, Manufacturers" is a half ready publication and contents are subject to changes and additions. We have all data necessary for report preparation but it needs to be retrieved from our databases, organized in a report, updated with the latest information and thus the complete study will be presented. This process takes 4-5 business days after the order is placed. Thus, our clients always obtain a revised and updated version of each report. Please note that we do not charge for an updating procedure.