Primary Nickel Market Size, Share, and Outlook, 2025 Report- By Type (Natural Primary Nickel, Recycling Primary Nickel), By Application (Engineering, Metal goods, Transport, Tubular products, Electrical and electronics, Construction, Others), 2018-2032
Description
Primary Nickel Market Outlook
Primary Nickel Market Size is forecast to reach $4.2 Billion in 2032 from $3.6 Billion in 2025, at an optimistic growth rate of 2.4% from 2025 to 2032. The robust Primary Nickel Market growth presents potential growth opportunities for companies across the industry value chain.
The comprehensive market research report presents 12-year historic and forecast data on Primary Nickel Market segments across 22 countries from 2021 to 2032. Key segments in the report include By Type (Natural Primary Nickel, Recycling Primary Nickel), By Application (Engineering, Metal goods, Transport, Tubular products, Electrical and electronics, Construction, Others). Over 70 tables and charts showcase findings from our latest survey report on Primary Nickel Markets.
Primary Nickel Market Insights, 2025: Primary Nickel: Key Drivers and Opportunities
The primary nickel market is witnessing significant growth, driven by its critical role in stainless steel production, electric vehicle (EV) batteries, and high-performance alloys. Nickel is a key component in lithium-ion batteries, particularly nickel-cobalt-manganese (NCM) and nickel-cobalt-aluminum (NCA) cathodes, which power EVs, energy storage systems, and consumer electronics.
A major driver is the surging demand for high-nickel battery chemistries as the EV industry shifts towards higher energy density and longer-range battery solutions. Countries such as China, the U.S., and Germany are accelerating nickel supply chain investments to support battery gigafactories and green energy storage infrastructure. Additionally, the stainless steel industry, which accounts for over 65% of global nickel consumption, is seeing increased demand due to urbanization, infrastructure growth, and industrial manufacturing expansion.
Opportunities exist in low-carbon nickel production, particularly nickel sulfate from laterite ores and environmentally sustainable extraction methods such as bioleaching and hydrometallurgical refining. Companies investing in nickel recycling from spent batteries, nickel-based superalloys for aerospace, and AI-driven nickel exploration technologies will lead the market as supply chain diversification and sustainable mining initiatives gain momentum.
Five Trends that will define global Primary Nickel Market in 2025 and Beyond
A closer look at the multi-million global market for Primary Nickel Market identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Primary Nickel Companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.
What are the biggest opportunities for growth in the Primary Nickel Industry?
The Primary Nickel Market sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2032. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.
Primary Nickel Market Segment Insights
The Primary Nickel Industry presents strong offers across categories. The analytical report offers forecasts of Primary Nickel Industry performance across segments and countries. Key segments in the industry include- By Type (Natural Primary Nickel, Recycling Primary Nickel), By Application (Engineering, Metal goods, Transport, Tubular products, Electrical and electronics, Construction, Others). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.
Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Primary Nickel Market size outlook is provided for 22 countries across these regions.
Primary Nickel Industry Value Chain
The chapter identifies potential companies and their operations across the global Primary Nickel Industry ecosystem. It assists decision-makers in evaluating global Primary Nickel Market fundamentals, market dynamics, and disruptive trends across the value chain segments.
Scenario Analysis and Forecasts
Strategic decision-making in the Primary Nickel Industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.
Asia Pacific Primary Nickel Market Analysis- A Promising Growth Arena for Business Expansion
As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.
The State of Europe Primary Nickel Industry 2025- Focus on Accelerating Competitiveness
As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Primary Nickel Market with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Primary Nickel Market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.
The US Primary Nickel Market Insights- Executives are most excited about opportunities for the US Primary Nickel Industry.
Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Primary Nickel Companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Primary Nickel Market.
Latin American Primary Nickel Market outlook rebounds in line with economic growth.
Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.
Middle East and Africa Primary Nickel Markets- New Opportunities for Companies Harnessing Diversity
Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Primary Nickel Markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Primary Nickel Markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.
Competitive Landscape- How Primary Nickel Companies outcompete in 2025 and Beyond?
The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Anglo American plc, BHP Group, Eramet SA, Glencore plc, Incuan Group International Resources Co. Ltd, MMC Norilsk Nickel PJSC, Sumitomo Corp, Vale S.A.
Primary Nickel Market Scope and Segmentation
By Type
Natural Primary Nickel
Recycling Primary Nickel
By Application
Engineering
Metal goods
Transport
Tubular products
Electrical and electronics
Construction
Others
Countries Included-
North America- US, Canada, Mexico
Europe- Germany, France, UK, Spain, Italy, Benelux, Turkey, Russia, Rest of Europe
Asia Pacific- China, India, Japan, South Korea, South East Asia, Australia, Rest of APAC
South and Central America- Brazil, Argentina, Chile, Rest of SCA
Middle East and Africa- Saudi Arabia, the UAE, Israel, South Africa, Algeria, Nigeria, Rest of Middle East, Rest of Africa
Companies Included in the Primary Nickel Market Research-
Anglo American plc
BHP Group
Eramet SA
Glencore plc
Incuan Group International Resources Co. Ltd
MMC Norilsk Nickel PJSC
Sumitomo Corp
Vale S.A.
Reasons to Buy the report
Primary Nickel Market Size is forecast to reach $4.2 Billion in 2032 from $3.6 Billion in 2025, at an optimistic growth rate of 2.4% from 2025 to 2032. The robust Primary Nickel Market growth presents potential growth opportunities for companies across the industry value chain.
The comprehensive market research report presents 12-year historic and forecast data on Primary Nickel Market segments across 22 countries from 2021 to 2032. Key segments in the report include By Type (Natural Primary Nickel, Recycling Primary Nickel), By Application (Engineering, Metal goods, Transport, Tubular products, Electrical and electronics, Construction, Others). Over 70 tables and charts showcase findings from our latest survey report on Primary Nickel Markets.
Primary Nickel Market Insights, 2025: Primary Nickel: Key Drivers and Opportunities
The primary nickel market is witnessing significant growth, driven by its critical role in stainless steel production, electric vehicle (EV) batteries, and high-performance alloys. Nickel is a key component in lithium-ion batteries, particularly nickel-cobalt-manganese (NCM) and nickel-cobalt-aluminum (NCA) cathodes, which power EVs, energy storage systems, and consumer electronics.
A major driver is the surging demand for high-nickel battery chemistries as the EV industry shifts towards higher energy density and longer-range battery solutions. Countries such as China, the U.S., and Germany are accelerating nickel supply chain investments to support battery gigafactories and green energy storage infrastructure. Additionally, the stainless steel industry, which accounts for over 65% of global nickel consumption, is seeing increased demand due to urbanization, infrastructure growth, and industrial manufacturing expansion.
Opportunities exist in low-carbon nickel production, particularly nickel sulfate from laterite ores and environmentally sustainable extraction methods such as bioleaching and hydrometallurgical refining. Companies investing in nickel recycling from spent batteries, nickel-based superalloys for aerospace, and AI-driven nickel exploration technologies will lead the market as supply chain diversification and sustainable mining initiatives gain momentum.
Five Trends that will define global Primary Nickel Market in 2025 and Beyond
A closer look at the multi-million global market for Primary Nickel Market identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Primary Nickel Companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.
What are the biggest opportunities for growth in the Primary Nickel Industry?
The Primary Nickel Market sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2032. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.
Primary Nickel Market Segment Insights
The Primary Nickel Industry presents strong offers across categories. The analytical report offers forecasts of Primary Nickel Industry performance across segments and countries. Key segments in the industry include- By Type (Natural Primary Nickel, Recycling Primary Nickel), By Application (Engineering, Metal goods, Transport, Tubular products, Electrical and electronics, Construction, Others). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.
Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Primary Nickel Market size outlook is provided for 22 countries across these regions.
Primary Nickel Industry Value Chain
The chapter identifies potential companies and their operations across the global Primary Nickel Industry ecosystem. It assists decision-makers in evaluating global Primary Nickel Market fundamentals, market dynamics, and disruptive trends across the value chain segments.
Scenario Analysis and Forecasts
Strategic decision-making in the Primary Nickel Industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.
Asia Pacific Primary Nickel Market Analysis- A Promising Growth Arena for Business Expansion
As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.
The State of Europe Primary Nickel Industry 2025- Focus on Accelerating Competitiveness
As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Primary Nickel Market with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Primary Nickel Market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.
The US Primary Nickel Market Insights- Executives are most excited about opportunities for the US Primary Nickel Industry.
Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Primary Nickel Companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Primary Nickel Market.
Latin American Primary Nickel Market outlook rebounds in line with economic growth.
Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.
Middle East and Africa Primary Nickel Markets- New Opportunities for Companies Harnessing Diversity
Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Primary Nickel Markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Primary Nickel Markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.
Competitive Landscape- How Primary Nickel Companies outcompete in 2025 and Beyond?
The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Anglo American plc, BHP Group, Eramet SA, Glencore plc, Incuan Group International Resources Co. Ltd, MMC Norilsk Nickel PJSC, Sumitomo Corp, Vale S.A.
Primary Nickel Market Scope and Segmentation
By Type
Natural Primary Nickel
Recycling Primary Nickel
By Application
Engineering
Metal goods
Transport
Tubular products
Electrical and electronics
Construction
Others
Countries Included-
North America- US, Canada, Mexico
Europe- Germany, France, UK, Spain, Italy, Benelux, Turkey, Russia, Rest of Europe
Asia Pacific- China, India, Japan, South Korea, South East Asia, Australia, Rest of APAC
South and Central America- Brazil, Argentina, Chile, Rest of SCA
Middle East and Africa- Saudi Arabia, the UAE, Israel, South Africa, Algeria, Nigeria, Rest of Middle East, Rest of Africa
Companies Included in the Primary Nickel Market Research-
Anglo American plc
BHP Group
Eramet SA
Glencore plc
Incuan Group International Resources Co. Ltd
MMC Norilsk Nickel PJSC
Sumitomo Corp
Vale S.A.
Reasons to Buy the report
- Make informed decisions through long and short-term forecasts across 22 countries and segments.
- Evaluate market fundamentals, dynamics, and disrupting trends set to shape 2025 and beyond.
- Gain a clear understanding of the competitive landscape, with product portfolio and growth strategies.
- Get an integrated understanding of the entire market ecosystem and companies.
- Stay ahead of the competition through plans for growth in a changing environment for your geographic expansion.
- Assess the impact of advanced technologies and identify growth opportunities based on actionable data and insights.
- Get free Excel spreadsheet and PPT versions along with the report PDF.
Table of Contents
196 Pages
- 1. Table of Contents
- List of Figures and Tables
- 2. Executive Summary
- 2.1 Key Highlights
- 2.1.1 Primary Nickel Market Size Outlook, 2018-2024 and 2025-2032
- 2.1.2 Largest Primary Nickel Market Types and Applications
- 2.1.3 Fastest Growing Segments
- 2.1.4 Potential Markets
- 2.1.5 Market Concentration
- 2.2 Market Scope and Segmentation
- 2.2.1 Market Scope- Segments
- 2.2.2 Market Scope- Countries
- 2.2.3 Macroeconomic and Demographic Outlook
- 2.2.4 Abbreviations
- 2.2.5 Units and Currency Conversions
- 3. Research Methodology
- 3.1 Primary Research Surveys
- 3.2 Secondary Data Sources
- 3.3 Data Triangulation
- 3.4 Forecast Methodology
- 3.5 Assumptions and Limitations
- 4. Introduction to Global Primary Nickel Market in 2025
- 4.1 Industry Panorama
- 4.2 Leading Companies Profiled in the Study
- 4.3 Asia Pacific Markets offer Robust Market Prospects for New Entrants
- 4.4 Market Dynamics
- 4.4.1 Market Dynamics- Trends and Drivers
- 4.4.2 Market Dynamics- Opportunities and Challenges
- 4.5 Regional Analysis
- 4.6 Porter’s Five Force Analysis
- 4.6.1 Intensity of Competitive Rivalry
- 4.6.2 Threat of New Entrants
- 4.6.3 Threat of Substitutes
- 4.6.4 Bargaining Power of Buyers
- 4.6.5 Bargaining Power of Suppliers
- 4.7 Primary Nickel Industry Value Chain Analysis
- 4.7.1 Stage of Value Chain
- 4.7.2 Key Activities of Companies
- 4.7.3 Companies Included in Each Stage
- 4.7.4 Key Insights
- 5. Primary Nickel Market Outlook to 2032
- 5.1 Market Size Forecast by Type, 2021-2024 and 2025-2032
- 5.2 Market Size Forecast by Application, 2021-2024 and 2024-2032
- 5.3 Market Size Forecast by Geography, 2021-2024 and 2024-2032 By Type
- Natural Primary Nickel
- Recycling Primary Nickel By Application
- Engineering
- Metal goods
- Transport
- Tubular products
- Electrical and electronics
- Construction
- Others
- 6. Global Primary Nickel Market Outlook across Growth Scenarios
- 6.1 Low Growth Scenario
- 6.2 Base/Reference Case
- 6.3 High Growth Scenario
- 6. North America Primary Nickel Market Size Outlook
- 6.1 Key Market Statistics, 2024
- 6.2 North America Primary Nickel Market Trends and Growth Opportunities
- 6.2.1 North America Primary Nickel Market Outlook by Type
- 6.2.2 North America Primary Nickel Market Outlook by Application
- 6.3 North America Primary Nickel Market Outlook by Country
- 6.3.1 The US Primary Nickel Market Outlook, 2021- 2032
- 6.3.2 Canada Primary Nickel Market Outlook, 2021- 2032
- 6.3.3 Mexico Primary Nickel Market Outlook, 2021- 2032
- 7. Europe Primary Nickel Market Size Outlook
- 7.1 Key Market Statistics, 2024
- 7.2 Europe Primary Nickel Market Trends and Growth Opportunities
- 7.2.1 Europe Primary Nickel Market Outlook by Type
- 7.2.2 Europe Primary Nickel Market Outlook by Application
- 7.3 Europe Primary Nickel Market Outlook by Country
- 7.3.2 Germany Primary Nickel Market Outlook, 2021- 2032
- 7.3.3 France Primary Nickel Market Outlook, 2021- 2032
- 7.3.4 The UK Primary Nickel Market Outlook, 2021- 2032
- 7.3.5 Spain Primary Nickel Market Outlook, 2021- 2032
- 7.3.6 Italy Primary Nickel Market Outlook, 2021- 2032
- 7.3.7 Russia Primary Nickel Market Outlook, 2021- 2032
- 7.3.8 Rest of Europe Primary Nickel Market Outlook, 2021- 2032
- 8. Asia Pacific Primary Nickel Market Size Outlook
- 8.1 Key Market Statistics, 2024
- 8.2 Asia Pacific Primary Nickel Market Trends and Growth Opportunities
- 8.2.1 Asia Pacific Primary Nickel Market Outlook by Type
- 8.2.2 Asia Pacific Primary Nickel Market Outlook by Application
- 8.3 Asia Pacific Primary Nickel Market Outlook by Country
- 8.3.1 China Primary Nickel Market Outlook, 2021- 2032
- 8.3.2 India Primary Nickel Market Outlook, 2021- 2032
- 8.3.3 Japan Primary Nickel Market Outlook, 2021- 2032
- 8.3.4 South Korea Primary Nickel Market Outlook, 2021- 2032
- 8.3.5 Australia Primary Nickel Market Outlook, 2021- 2032
- 8.3.6 South East Asia Primary Nickel Market Outlook, 2021- 2032
- 8.3.7 Rest of Asia Pacific Primary Nickel Market Outlook, 2021- 2032
- 9. South America Primary Nickel Market Size Outlook
- 9.1 Key Market Statistics, 2024
- 9.2 South America Primary Nickel Market Trends and Growth Opportunities
- 9.2.1 South America Primary Nickel Market Outlook by Type
- 9.2.2 South America Primary Nickel Market Outlook by Application
- 9.3 South America Primary Nickel Market Outlook by Country
- 9.3.1 Brazil Primary Nickel Market Outlook, 2021- 2032
- 9.3.2 Argentina Primary Nickel Market Outlook, 2021- 2032
- 9.3.3 Rest of South and Central America Primary Nickel Market Outlook, 2021- 2032
- 10. Middle East and Africa Primary Nickel Market Size Outlook
- 10.1 Key Market Statistics, 2024
- 10.2 Middle East and Africa Primary Nickel Market Trends and Growth Opportunities
- 10.2.1 Middle East and Africa Primary Nickel Market Outlook by Type
- 10.2.2 Middle East and Africa Primary Nickel Market Outlook by Application
- 10.3 Middle East and Africa Primary Nickel Market Outlook by Country
- 10.3.1 Saudi Arabia Primary Nickel Market Outlook, 2021- 2032
- 10.3.2 The UAE Primary Nickel Market Outlook, 2021- 2032
- 10.3.3 Rest of Middle East Primary Nickel Market Outlook, 2021- 2032
- 10.3.4 South Africa Primary Nickel Market Outlook, 2021- 2032
- 10.3.5 Egypt Primary Nickel Market Outlook, 2021- 2032
- 10.3.6 Rest of Africa Primary Nickel Market Outlook, 2021- 2032
- 11. Company Profiles
- 11.1 Leading 10 Companies
- Anglo American plc
- BHP Group
- Eramet SA
- Glencore plc
- Incuan Group International Resources Co. Ltd
- MMC Norilsk Nickel PJSC
- Sumitomo Corp
- Vale S.A.
- 11.2 Overview
- 11.3 Products and Services
- 11.4 SWOT Profile
- 12. Appendix
- 12.1 Subscription Options
- 12.2 Customization Options
- 12.3 Publisher Details
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