The global nickel industry size was USD 41.61 billion in 2023 and is projected to grow from USD 44.59 billion in 2024 to USD 73.15 billion by 2032 at a CAGR of 7.3% during the forecast period. according to Fortune Business Insights™ in its report titled, "Nickel Market, 2021-2028." Nickel (Ni), a naturally occurring silvery-white metallic element, is essential in various applications due to its outstanding physical and chemical properties. It is primarily used in alloying stainless and heat-resistant steels, often combined with chromium and other metals. Advances in mining, smelting, and refining technologies now allow for the processing of lower-grade nickel ore. Additionally, increased exploratory activities by mining companies, driven by low commodity prices, are anticipated to boost nickel metal uptake. Technological advancements in stainless steel production and rising consumer demand for nickel-based products, such as alloys and batteries, are expected to drive global market growth during the forecast period.
Market Segmentation
The report provides an in-depth analysis of the nickel industry, highlighting key companies, applications, and market trends. It includes quantitative data on market size, volume, and value, along with a comprehensive analysis of market drivers and restraints. The study also covers significant industry developments and the competitive landscape.