Nickel Market Size, Share, Growth Analysis, By Product Type, Applications, By Function And End-Use Industry, Global Forecast 2023-2032|Vale SA, MMC Norilsk Nickel, Xstrata PLC, Jinchuan Group Ltd., and BHP Billiton Ltd

The Nickel Global Market Report 2023 by The Business Research Company, provides nickel market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Nickel Global Market Report 2023, the market size is expected to grow from$34.64 billion in 2022 to $38.44 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of nickel is expected to grow from $57.51 billion in 2027 at a CAGR of 10.6%.

The growth in the nickel market is due to an increase in the manufacturing of stainless steel in countries such as Australia and the Philippines owing to rising infrastructure.

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The nickel market is segmented:

1) By Type: Pentlandite (sulfide ore), and Laterite

2) By Mining Type: Underground Mining, Surface Mining

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The nickel market report table of contents includes: