정제 니켈 시장 규모, 점유율, 성장 분석, 제품 유형별, 순도 등급별, 최종 용도별, 최종 산업별, 지역별 - 산업 예측(2025-2032년)

Global Refined Nickel Market size was valued at USD 34.6 billion in 2023 and is poised to grow from USD 36.99 billion in 2024 to USD 63.08 billion by 2032, growing at a CAGR of 6.9% during the forecast period (2025-2032).

The global refined nickel market is experiencing significant growth, driven by diverse applications such as stainless steel production, battery manufacturing, and electroplating, highlighting its essential role as an industrial metal. Stainless steel remains the predominant use, supported by increased construction and infrastructure development, while the shift towards electric vehicles is bolstering nickel demand for lithium-ion batteries. The Asia-Pacific region is a key player, particularly with investments in EV battery manufacturing in countries like China and Japan. Additionally, Europe is adapting rapidly to electric vehicle trends, and North America is enhancing its position with the establishment of battery gigafactories. As producers emphasize low-carbon refining methods and strengthen partnerships within the supply chain, the market is expected to remain robust, indicating strong long-term demand.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Refined Nickel market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Refined Nickel Market Segments Analysis

Global Refined Nickel Market is segmented by Product Type, Purity Grade, Application, End-Use Industry, End Use and region. Based on Product Type, the market is segmented into Electrolytic Nickel, Nickel Pig Iron (NPI), Ferronickel and Nickel Oxide Sinter. Based on Purity Grade, the market is segmented into High Purity (99.9%+) and Standard Purity (Below 99.9%). Based on Application, the market is segmented into Stainless Steel & Alloys, Batteries, Electroplating, Catalysts and Others. Based on End-Use Industry, the market is segmented into Automotive & Transportation, Electrical & Electronics, Building & Construction, Industrials and Consumer Goods. Based on End Use, the market is segmented into Agriculture, Horticulture, Turf & Ornamentals and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Refined Nickel Market

The transition to electric mobility stands as the predominant force propelling the global refined nickel market. High-purity nickel plays a crucial role as a cathode material in high-energy density lithium-ion batteries, which are essential for electric vehicles. The surge in demand for these batteries is fueled by significant increases in electric vehicle production targets set by major automotive manufacturers, which in turn drives the growth of the refined nickel market. As the industry continues to scale up its production capabilities, the reliance on refined nickel is set to escalate, creating a dynamic landscape characterized by substantial opportunity and ongoing evolution.

Restraints in the Global Refined Nickel Market

The global refined nickel market faces significant restraints due to its reliance on nickel ore sourced from regions with geopolitical instability, coupled with refining activities that are predominantly concentrated in a few leading countries. This creates a complex and vulnerable supply chain, prone to disruptions from export bans, trade conflicts, and logistical challenges. Ongoing geopolitical conflicts involving key producers have led to notable price volatility, which in turn hampers the expansion of the global refined nickel market. As a result, these factors collectively pose risks to the stability and growth potential of the refined nickel sector worldwide.

Market Trends of the Global Refined Nickel Market

The global refined nickel market is witnessing a significant bifurcation driven by the surging demand for high-purity, Class 1 nickel, primarily for battery production. This increasing emphasis on obtaining high-grade nickel for applications like nickel sulfate in cathodes is creating a premium segment within the market. The escalating price differential between Class 1 nickel and lower-grade alternatives, such as nickel pig iron (NPI), highlights this trend. As industries focus on sustainable energy solutions and efficient battery technologies, the refined nickel market is poised for robust growth, reflecting a deeper shift towards high-quality materials to meet evolving consumer expectations and regulatory standards.

Table of Contents

Introduction

• Objectives of the Study
• Scope of the Report
• Definitions

Research Methodology

• Information Procurement
• Secondary & Primary Data Methods
• Market Size Estimation
• Market Assumptions & Limitations

Executive Summary

• Global Market Outlook
• Supply & Demand Trend Analysis
• Segmental Opportunity Analysis

Market Dynamics & Outlook

• Market Overview
• Market Size
• Market Dynamics
  • Drivers & Opportunities
  • Restraints & Challenges
• Porters Analysis
  • Competitive rivalry
  • Threat of substitute
  • Bargaining power of buyers
  • Threat of new entrants
  • Bargaining power of suppliers

Key Market Insights

• Key Success Factors
• Degree of Competition
• Top Investment Pockets
• Market Ecosystem
• Market Attractiveness Index, 2024
• PESTEL Analysis
• Macro-Economic Indicators
• Value Chain Analysis
• Pricing Analysis

Global Refined Nickel Market Size by Product Type & CAGR (2025-2032)

• Market Overview
• Electrolytic Nickel
• Nickel Pig Iron (NPI)
• Ferronickel
• Nickel Oxide Sinter

Global Refined Nickel Market Size by Purity Grade & CAGR (2025-2032)

• Market Overview
• High Purity (99.9%+)
• Standard Purity (Below 99.9%)

Global Refined Nickel Market Size by Application & CAGR (2025-2032)

• Market Overview
• Stainless Steel & Alloys
• Batteries
• Electroplating
• Catalysts
• Others

Global Refined Nickel Market Size by End-Use Industry & CAGR (2025-2032)

• Market Overview
• Automotive & Transportation
• Electrical & Electronics
• Building & Construction
• Industrials
• Consumer Goods

Global Refined Nickel Market Size by End Use & CAGR (2025-2032)

• Market Overview
• Agriculture
• Horticulture
• Turf & Ornamentals
• Others

Global Refined Nickel Market Size & CAGR (2025-2032)

• North America (Product Type, Purity Grade, Application, End-Use Industry, End Use)
  • US
  • Canada
• Europe (Product Type, Purity Grade, Application, End-Use Industry, End Use)
  • Germany
  • Spain
  • France
  • UK
  • Italy
  • Rest of Europe
• Asia Pacific (Product Type, Purity Grade, Application, End-Use Industry, End Use)
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Latin America (Product Type, Purity Grade, Application, End-Use Industry, End Use)
  • Brazil
  • Rest of Latin America
• Middle East & Africa (Product Type, Purity Grade, Application, End-Use Industry, End Use)
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Competitive Intelligence

• Top 5 Player Comparison
• Market Positioning of Key Players, 2024
• Strategies Adopted by Key Market Players
• Recent Developments in the Market
• Company Market Share Analysis, 2024
• Company Profiles of All Key Players
  • Company Details
  • Product Portfolio Analysis
  • Company's Segmental Share Analysis
  • Revenue Y-O-Y Comparison (2022-2024)

Key Company Profiles

• Tsingshan Holding Group (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Zhejiang Huayou Cobalt Co., Ltd. (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Nickel Industries (Indonesia)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Norilsk Nickel (Russia)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Vale S.A. (Brazil)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Glencore (Switzerland)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• BHP Group (Australia)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Anglo American (UK)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• South32 (Australia)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Eurasian Resources Group (ERG) (Kazakhstan)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Sumitomo Metal Mining Co., Ltd. (Japan)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Shandong Xinhai Technology Co., Ltd. (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Jinchuan Group International Resources Co. Ltd. (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• China Northern Rare Earth Group High-Tech Co. (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• MMC Norilsk Nickel (Russia)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Korea Zinc Co., Ltd. (South Korea)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Vale Indonesia (Indonesia)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• PT Antam Tbk (Indonesia)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Sherritt International (Canada)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• China Molybdenum Co., Ltd. (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments

Conclusion & Recommendations