Summary

Nickel Mining Market Growth & Trends

The global nickel mining market is anticipated to reach USD 83.81 billion by 2030, according to a new report by Grand View Research, Inc., projected to grow at a CAGR of 6.6% from 2023 to 2030. The rising demand for nickel in electric batteries is propelling mining activities worldwide. The product plays a crucial role in batteries, allowing them to store more energy while also being cost-effective. It is used in two popular types of batteries: Nickel Cobalt Aluminium (NCA) and Nickel Manganese Cobalt (NMC). NCA batteries contain 80% nickel, while NMC batteries contain 33%.

The increasing production of electric batteries is expected to have a positive influence on mining. In March 2022, a Swedish-based battery manufacturer, Northvolt AB, announced plans to construct a gigafactory in Northern Germany with an estimated annual production capacity of 60 GWH. Its production is set to commence in 2025. Europe’s focus on green energy transition is anticipated to boost sustainable mining activities in the region. There are large-scale reserves of nickel in the region, and growing demand for the product in batteries for electric vehicles and renewable energy is anticipated to boost its production over the coming years.

The market is characterized by high competition and fragmentation, which is why major players are acquiring their competitors to maintain their dominance. For example, in December 2022, BHP acquired a nickel-copper project located in Western Australia from Oz Minerals for USD 6.19 billion. Similarly, in December 2021, Australia-based IGO acquired Western Areas, a Western Australia-based nickel miner and sulfide producer.

Nickel Mining Market Report Highlights

• Based on end-use, the stainless steel segment is expected to register a CAGR of 6.5%, in terms of revenue, over the forecast period. The rising demand for stainless steel in various industries such as oil & gas and construction is driving the segment growth

• The non-ferrous alloys segment is projected to have a CAGR of 6.8% in terms of revenue, over the forecast period. The growth of the segment is attributed to the increasing demand for non-ferrous alloys from industries operating at high temperatures and pressures such as aerospace and defense, and oil and gas.

• Based on region, Asia Pacific held the largest market share of about 58.0% in 2022 of the global market. The region's dominance is attributed to the presence of large reserves in countries like China, Indonesia, the Philippines, and Australia

• The nickel mining industry is facing competition from the recycling sector. For instance, according to Nickel Institutes, around 68% of nickel in consumer products is recycled, starting a new cycle.

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Information Analysis
1.3.2. Data Analysis Models
1.3.3. Market Formulation & Data Visualization
1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Outlook
3.2. Industry Value Chain Analysis
3.3. Manufacturing Trends & Technology Overview
3.4. Sales Channel Analysis
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Market Opportunity Analysis
3.6.4. Market Challenges
3.7. Porter’s Five Forces Analysis
3.7.1. Bargaining Power of Suppliers
3.7.2. Bargaining Power of Buyers
3.7.3. Threat of Substitution
3.7.4. Threat of New Entrants
3.7.5. Competitive Rivalry
3.8. PESTLE Analysis
3.8.1. Political
3.8.2. Economic
3.8.3. Social Landscape
3.8.4. Technology
3.8.5. Environmental
3.8.6. Legal
Chapter 4. Nickel Mining Market: End-use Estimates & Trend Analysis
4.1. Nickel Mining Market: End-use Movement Analysis, 2022 & 2030
4.2. Stainless Steel
4.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
4.3. Non-Ferrous Alloys
4.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
4.4. Batteries
4.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
4.5. Others
4.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. Nickel Mining Market: Regional Estimates & Trend Analysis
5.1. Regional Analysis, 2022 & 2030
5.2. North America
5.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.2.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.2.3. U.S.
5.2.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.2.3.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.2.4. Canada
5.2.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.2.4.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.3. Europe
5.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.3.3. Russia
5.3.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3.3.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.3.4. Norway
5.3.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3.4.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.4. Asia Pacific
5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.4.3. China
5.4.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.3.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.4.4. Philippines
5.4.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.4.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.4.5. Australia
5.4.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.5.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.4.6. Indonesia
5.4.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.6.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.5. Central & South America
5.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.5.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.5.3. Brazil
5.5.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.5.3.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
5.6. Middle East & Africa
5.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6.2. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Competitive Landscape
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.2. Company Categorization
6.3. Kraljic Matrix
6.4. Company Ranking
6.5. Heat Map Analysis
6.6. Vendor Landscape
6.6.1. List of equipment suppliers
6.6.2. List of distributors
6.6.3. List of other prominent manufacturers
6.6.4. List of prospective end-users
6.7. Strategy Mapping
6.8. Company Profiles/Listing
6.8.1. Norilsk Nickel
6.8.1.1. Company overview
6.8.1.2. Financial performance
6.8.1.3. Product benchmarking
6.8.2. Vale S.A
6.8.2.1. Company overview
6.8.2.2. Financial performance
6.8.2.3. Product benchmarking
6.8.3. ·Glencore
6.8.3.1. Company overview
6.8.3.2. Financial performance
6.8.3.3. Product benchmarking
6.8.4. ·BHP
6.8.4.1. Company overview
6.8.4.2. Product benchmarking
6.8.5. Sumitomo Metal Mining Co., Ltd.
6.8.5.1. Company overview
6.8.5.2. Financial performance
6.8.5.3. Product benchmarking
6.8.6. Sherritt International Corporation
6.8.6.1. Company overview
6.8.6.2. Financial performance
6.8.6.3. Product benchmarking
6.8.7. IGO LIMITED
6.8.7.1. Company overview
6.8.7.2. Financial performance
6.8.7.3. Product benchmarking
6.8.8. Eramet
6.8.8.1. Company overview
6.8.8.2. Financial performance
6.8.8.3. Product benchmarking
6.8.9. Mincor Resources NL
6.8.9.1. Company overview
6.8.9.2. Financial performance
6.8.9.3. Product benchmarking
6.8.10. Lundin Mining Corporation
6.8.10.1. Company overview
6.8.10.2. Financial performance
6.8.10.3. Product benchmarking
6.8.11. Nickel Asia Corporation
6.8.11.1. Company overview
6.8.11.2. Financial performance
6.8.11.3. Product benchmarking