니켈 세계 시장 규모는 2024년 370억 달러에 달했습니다. 향후 IMARC Group은 이 시장이 2033년까지 555억 달러에 달할 것으로 예상하며, 2025년부터 2033년까지 4.6%의 CAGR을 기록할 것으로 예측하고 있습니다. 현재 아시아태평양이 니켈 시장 점유율을 독점하고 있으며, 2024년에는 72.0% 이상의 큰 시장 점유율을 차지할 것으로 예상됩니다. 급속한 기술 혁신과 발전, 유리한 정부 정책 및 규제, 인프라 및 개발 프로젝트에 대한 투자 증가, 스테인레스 스틸 제품에 대한 수요 증가는 시장을 주도하는 주요 요인 중 일부입니다.
니켈은 강도와 내구성으로 유명한 만능 금속입니다. 내식성이 뛰어난 니켈은 전기도금, 배터리, 스테인리스 스틸 제조 등 다양한 용도로 사용되고 있습니다. 이러한 독특한 특성으로 인해 화학 플랜트, 선박용 장비 등 열악한 환경에 적합한 선택이 되고 있습니다. 인코넬과 모넬과 같은 니켈 합금은 뛰어난 내열성을 가지고 있어 항공우주 및 발전의 고온 용도에 적합합니다. 또한, 전기자동차(EV) 배터리, 충전식 배터리, 전기 모터, 발전기 제조에도 중요한 역할을 하고 있습니다.
세계 니켈 시장을 주도하고 있는 것은 스테인리스 스틸 산업에서의 니켈 수요 증가와 EV 보급 확대 등 다양한 요인이 있습니다. 또한, 급속한 인프라 개발과 도시화로 인해 건설 자재, 특히 스테인리스 철근 생산에 대한 니켈 수요가 증가하고 있으며, 이는 시장 개척을 촉진하고 있습니다. 또한, 기술 발전과 항공우주, 전자기기, 화학 처리 등 다양한 산업 분야에서 니켈의 폭넓은 응용이 시장 성장에 기여하고 있습니다. 또한, 새로운 발견과 기존 사업의 확장 등 전 세계적으로 니켈 채굴 프로젝트가 지속적으로 개발되고 있어 니켈의 안정적인 공급이 확보되고 있는 것도 호재로 작용하고 있습니다. 또한, 새로운 기술 및 재료의 출현, 채굴, 무역, 환경 보호, 지속가능성 실천과 관련된 정부 정책 및 정책이 시장 성장을 촉진하고 있습니다.
스테인리스 스틸 산업에서 니켈 수요 증가
스테인리스 스틸 산업은 니켈의 주요 소비처이며, 스테인리스 스틸 제품의 강도, 내식성, 내구성을 높이는 주요 합금 원소로 니켈을 활용하고 있습니다. 건설, 자동차, 소비재 등 다양한 분야에서 스테인리스 스틸에 대한 수요가 증가하고 있는 것이 시장 성장을 견인하고 있습니다. 건설 분야에서 스테인리스강은 우수한 구조적 특성과 내식성으로 인해 교량, 철도, 건물 등의 인프라 프로젝트에 널리 사용되고 있습니다. 자동차 분야에서는 니켈 함유 스테인리스강이 배기장치, 촉매 컨버터 등의 부품에 활용되고 있습니다. 또한, 일반 가정에서 스테인리스 스틸 가전제품과 조리기구의 인기가 높아짐에 따라 니켈의 수요가 증가하고 있습니다.
전기자동차 도입 증가
니켈은 전기자동차에 사용되는 리튬이온 이차 전지의 양극의 주요 구성요소입니다. 전 세계 정부와 소비자들이 온실가스 배출량과 화석연료 의존도를 줄이는 것을 우선순위로 삼고 있기 때문에 전기자동차에 대한 수요가 크게 증가하고 있습니다. 이에 따라 배터리 분야에서 니켈에 대한 수요가 증가하고 있습니다. 니켈 기반 리튬이온 배터리는 에너지 밀도가 높고, 수명이 길고, 주행거리가 길기 때문에 전기자동차 보급에 필수적입니다. 주요 자동차 제조업체들이 전기자동차 생산에 대한 투자를 지속하고 각국 정부가 지원 정책과 우대 정책을 시행함에 따라 배터리 부문의 니켈 수요는 비약적으로 증가할 것으로 예상되며, 이는 세계 니켈 시장의 강력한 원동력이 되고 있습니다.
신흥 경제국의 인프라 개발 및 도시화
니켈은 건물, 교량, 고속도로 등의 건설 프로젝트에 필수적인 스테인리스 스틸 철근 제조에 널리 사용되고 있습니다. 신흥국에서는 인구 증가, 도시화, 생활수준의 향상으로 인프라 수요가 확대되고 있습니다. 스테인리스 스틸 철근은 강도, 내구성, 내식성이 우수하여 건설용으로 선호되고 있습니다. 그 결과, 인프라 개발과 도시화에 힘입어 건설 부문의 니켈 수요는 계속 증가하고 있습니다.
The global nickel market size was valued at USD 37.0 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 55.5 Billion by 2033, exhibiting a CAGR of 4.6% during 2025-2033. Asia Pacific currently dominates the nickel market share, holding a significant market share of over 72.0% in 2024. Rapid technological advancements and innovation, favorable government policies and regulations, burgeoning investments in infrastructure and development projects, and the rising demand for stainless steel products are some of the major factors propelling the market.
Nickel is a versatile metal known for its strength and durability. With excellent resistance to corrosion, nickel finds extensive applications in electroplating, batteries, and stainless steel production. Its unique properties make it a preferred choice for demanding environments, such as chemical plants and marine equipment. Nickel alloys, such as Inconel and Monel, offer exceptional heat resistance, making them ideal for high-temperature applications in aerospace and power generation. Moreover, it plays a crucial role in producing electric vehicle (EV) batteries, rechargeable batteries, electric motors, and generators.
The global nickel market is being driven by various factors, such as the increasing demand for nickel in the stainless steel industry and the increasing adoption of EVs. Moreover, rapid infrastructure development and urbanization are fueling the demand for nickel in construction materials, particularly to produce stainless steel reinforcement bars, which is supporting the market growth. Furthermore, advancements in technology and the widespread application of nickel in various industrial sectors, such as aerospace, electronics, and chemical processing, are contributing to the market growth. Another driver is the continuous development of nickel mining projects globally, including new discoveries and the expansion of existing operations, ensuring a steady supply of the metal. Additionally, the emergence of new technologies and materials and government policies and regulations related to mining, trade, environmental protection, and sustainability practices are propelling the market growth.
Growing demand for nickel in the stainless steel industry
The stainless steel industry is a major consumer of nickel, utilizing it as a key alloying element to enhance the strength, corrosion resistance, and durability of stainless steel products. The rising demand for stainless steel in various sectors, including construction, automotive, and consumer goods, is driving the market growth. In construction, stainless steel is widely used in infrastructure projects, such as bridges, railways, and buildings, due to its excellent structural properties and resistance to corrosion. In the automotive sector, nickel-containing stainless steel is utilized in components like exhaust systems and catalytic converters. Additionally, the increasing popularity of stainless steel appliances and utensils in households further boosts the demand for nickel.
Increasing adoption of EVs
Nickel is a key component in the cathode of rechargeable lithium-ion batteries used in EVs. As governments and consumers worldwide prioritize reducing greenhouse gas emissions and dependence on fossil fuels, the demand for EVs is experiencing significant growth. This, in turn, drives the demand for nickel in the battery sector. Nickel-based lithium-ion batteries offer higher energy density, improved longevity, and increased driving range, making them essential for the widespread adoption of EVs. As major automotive manufacturers continue to invest in EV production and governments implement supportive policies and incentives, the demand for nickel in the battery sector is expected to rise exponentially, creating a strong driver for the global nickel market.
Infrastructure development and urbanization in emerging economies
Nickel is extensively used in producing stainless steel reinforcement bars, which are crucial components in construction projects, including buildings, bridges, and highways. As developing countries experience population growth, increased urbanization, and rising standards of living, the demand for infrastructure expands. Stainless steel reinforcement bars offer superior strength, durability, and resistance to corrosion, making them a preferred choice for construction purposes. As a result, the demand for nickel in the construction sector, driven by infrastructure development and urbanization, continues to grow.
Class I products dominate the market
Class I nickel products are high-purity nickel suitable for use in advanced technological applications, including the production of batteries for electric vehicles and energy storage. The purity level of Class I nickel is typically higher than 99.8%. These products include electrolytic nickel, nickel briquettes, nickel carbonyl, nickel powder, and nickel sulfate. Consequently, surge in the electric vehicle industry, a shift towards renewable energy, the implementation of stringent regulations to reduce carbon emissions, and increasing urbanization and industrial activities are driving the market growth.
On the other hand, class 2 nickel products include lower-purity nickel sources. These products include ferronickel, nickel pig iron (NPI), and nickel oxide, and they typically have a nickel content of less than 99.8%. Class 2 nickel is commonly used in stainless steel manufacturing and other industries where high purity isn't as critical. The primary driver of Class 2 nickel demand is its extensive use in stainless steel production. Nickel improves the corrosion resistance and mechanical properties of stainless steel, making it suitable for a variety of applications. Moreover, with the increasing pace of global urbanization and infrastructure development, the demand for materials like stainless steel - and by extension, Class 2 nickel has surged, thus favoring the market growth.
Stainless steel and alloy steel holds the largest share in the market
Stainless steel, a highly durable and corrosion-resistant material, finds extensive use in the construction, automotive, and aerospace industries due to its superior strength-to-weight ratio. Alloy steel, made from a blend of iron with elements like nickel, chromium, and molybdenum, is renowned for its mechanical strength, toughness, and wear resistance, making it ideal for structural components and machinery. Non-ferrous alloys such as copper, aluminum, and titanium are prevalent in electronics, aerospace, and automotive industries, offering lightweight, electrically conductive, and corrosion-resistant solutions. Superalloys, with their exceptional resistance to high temperatures and oxidation, are critical in aircraft engines, gas turbines, and nuclear reactors. Electroplating enhances object aesthetics and durability, while casting enables accurate, complex shapes for automotive, aerospace, and construction applications. Nickel is essential in rechargeable batteries, offering high energy density and longevity. It also finds applications in chemical processing, oil and gas refining, heat exchangers, and medical equipment due to its corrosion resistance and high-temperature tolerance.
Transportation and defense holds the largest share in the market
Nickel has diverse applications across numerous sectors. In transportation and defense, it is used in stainless and alloy steels to enhance durability and corrosion resistance, crucial for vehicles and military equipment. Fabricated metal products also leverage nickel for its robustness and resistance properties. In the electrical and electronics sector, nickel's high electrical conductivity makes it integral in components and battery technologies. The chemical and petrochemical industries use nickel-based alloys in processing equipment due to their exceptional resistance to harsh chemicals and high temperatures. In construction, nickel strengthens and provides corrosion resistance to structural steel. Consumer durables often incorporate nickel for its aesthetic appeal and durability, while industrial machinery utilizes nickel-alloyed steel for enhanced longevity and performance. The 'others' category includes sectors like medical, where nickel's non-corrosive properties make it suitable for surgical equipment, and energy, where it's used in batteries and renewable energy systems.
Asia Pacific exhibits a clear dominance, accounting for the largest nickel market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others); and the Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, and others).
Asia Pacific has emerged as a market leader for nickel due to its vast population, rapid industrialization, and dynamic economic growth. Countries like China, Japan, South Korea, and India have become manufacturing powerhouses, offering cost-effective production capabilities and a massive consumer base. The region's strong focus on exports, technological advancements, and investments in research and development have propelled industries such as electronics, automotive, telecommunications, and e-commerce, driving its market leadership. In line with this, the escalating adoption of electric vehicles (EVs) in the region is driving the need for high-purity nickel in battery production, given nickel's crucial role in enhancing energy density and longevity of lithium-ion batteries. Governments in this region are also implementing favorable policies and providing subsidies for EVs and renewable energy, indirectly influencing the nickel market. Besides this, the region's growing economy increases demand for consumer goods and infrastructure, leading to more nickel use in these products and structures.
The competitive landscape of the nickel market is characterized by the presence of several key players vying for market share. These companies operate across various segments of the nickel value chain, including mining, refining, production, and distribution. Some of the prominent players in the market have established themselves as major nickel producers, leveraging their extensive mining operations and technological expertise. Furthermore, the market is also witnessing the emergence of new players, particularly in countries with substantial nickel reserves, such as Indonesia and the Philippines. As the demand for nickel continues to grow, competition intensifies, leading to strategic collaborations, investments in research and development, and expansion of production capacities to maintain a competitive edge in the dynamic nickel market.