In 2024, an estimated total of *** million metric tons of nickel was produced in mines worldwide. Since 2010, annual global nickel production has more than doubled. Indonesia is the world's largest nickel producing country.

In 2023, Indonesia produced the world's largest share of nickel from mines, at 50.8 percent. Philippines had the second-largest production volume that year, at a distant 11.3 percent of world mine production. The global mine production of nickel stood at around 3.5 million metric tons in 2023.

This dataset from the British Geological Survey (BGS) provides annual data on global nickel mine production from 1970 to 2022, including production figures in tonnes (metal content).

Discover the top countries contributing to the world nickel supply, including Indonesia, Philippines, Russia, Canada, Australia, and New Caledonia. Learn about their production and mining operations, and the factors influencing the global nickel supply chain.

In 2024, nickel mine production in the United States was estimated at ***** metric tons. This was a decrease of more than ** percent when compared to production in 2015. The U.S. currently has only one domestic nickel mine – the Eagle mine – which is an underground mine located in Michigan.

Discover the booming nickel market forecast to 2033! This comprehensive analysis reveals a CAGR exceeding 4.80%, driven by EV battery demand and stainless steel growth. Explore key trends, restraints, and major players shaping this dynamic industry. Recent developments include: August 2022: NMDC Ltd. announced its decision to explore opportunities overseas in a bid to mine lithium, nickel, and cobalt in order to meet the growing demand in India. The state-run iron-ore producer is planning to start mining in Australia, as it holds a 90.02% stake in the country's Legacy Iron Ore Ltd., December 2021: Mitsui & Co. Mineral Resources Development (Asia) Corp. (MMRDA) and Sojitz will sell all their shares in CBNC (36% in total to Sumitomo Metal Mining Co. Ltd (SMM). With the sales of the shares, SMM's shareholding ratio in CBNC will increase from the current 54% of the outstanding shares to 90%., October 2021: Renault Group announced the signing of a Memorandum of Understanding (MoU) with Terrafame, for a future supply of nickel sulphate. With this agreement, Renault Group will secure a significant annual supply of nickel sulphate from Terrafame, representing up to 15 GWh of annual capacity., In July 2021: BHP announced the signing of a nickel supply agreement from its Nickel West asset in Western Australia, with one of the world's leading sustainable energy company, Tesla Inc.. Key drivers for this market are: Rising Demand for Corrosion Resistant Alloys in the Oil and Gas Industry, Other Drivers. Potential restraints include: Rising Demand for Corrosion Resistant Alloys in the Oil and Gas Industry, Other Drivers. Notable trends are: Increasing Demand for Stainless Steel.

Global Primary Refined Nickel Production data, recent 31 years (traceable to Jan 01,1995), the unit is t/month, latest value is 318941, updated at Jul 01,2025

Indonesia Production: Nickel Ore data was reported at 762,388.000 Metric Ton in Sep 2018. This records an increase from the previous number of 752,001.000 Metric Ton for Aug 2018. Indonesia Production: Nickel Ore data is updated monthly, averaging 238,113.000 Metric Ton from Jan 1983 (Median) to Sep 2018, with 429 observations. The data reached an all-time high of 1,149,931.000 Metric Ton in Nov 2012 and a record low of 43,159.000 Metric Ton in Dec 1992. Indonesia Production: Nickel Ore data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Indonesia – Table ID.BAD002: Manufacturing Industry: by Product: Volume.

This data release contains the U.S. salient statistics and world production data extracted from the NICKEL data sheet of the USGS Mineral Commodity Summaries 2025.

The global nickel market for stainless steel production is experiencing robust growth, driven by the increasing demand for stainless steel in various industries, including construction, automotive, and consumer goods. This surge is further fueled by the expanding middle class in developing economies, leading to increased infrastructure development and consumer spending. While precise figures for market size and CAGR were not provided, a reasonable estimation based on industry reports and trends suggests a current market size (2025) of approximately $50 billion USD. Assuming a conservative CAGR of 5% – a figure reflective of past growth and projected future demand, considering potential economic fluctuations – the market is poised to reach approximately $70 billion USD by 2033. Key drivers include technological advancements enhancing stainless steel production efficiency and sustainability initiatives promoting the use of recycled nickel. However, the market is not without its challenges. Price volatility in nickel, influenced by global supply chain disruptions and geopolitical factors, presents a significant restraint. Environmental regulations related to nickel mining and processing also pose a considerable challenge, requiring companies to invest in sustainable practices and technologies. Furthermore, the emergence of alternative materials in certain applications could potentially limit market growth in the long term. The competitive landscape is dominated by major players like Nornickel, Vale, Glencore, and BHP Group, who are strategically focusing on enhancing operational efficiency, exploring new deposits, and developing sustainable mining methods to maintain their market share amidst evolving industry dynamics. Growth will likely be uneven across regions, with developing economies in Asia and the Pacific exhibiting particularly strong growth, while mature markets in North America and Europe maintain steady but slower expansion.

According to Cognitive Market Research, the global nickel market size is USD 35695.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 14278.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 10708.56 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 8209.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 1784.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 713.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The Electrical & Electronics End-Uses held the highest nickel market revenue share in 2024

Market Dynamics of Nickel Market

Key Drivers for Nickel Market

Increased Demand for Nickel Batteries to Increase the Demand Globally: One key driver in the nickel market is increased demand for nickel batteries. It is an essential component in the manufacture of lithium-ion batteries, which power electric vehicles. As the globe moves toward greener transportation and E.V. usage grows, so does the demand for nickel. Battery manufacture is projected to be a significant driver of nickel use in the coming years. Historically, the stainless steel sector was the major consumer of nickel. Nickel gives strength and corrosion resistance to steel, making it essential for a variety of applications. As global infrastructure development and industrial activity continue, demand for stainless steel, and thus nickel, remains high.

Boom in Electric Vehicles to Propel Market Growth: Another key driver in the nickel market is the increasing demand for electric vehicles. The worldwide electric vehicle (E.V.) boom is having a big impact on the nickel market, increasing both demand and prices. As the global demand for E.V.s grows, so does the demand for nickel to build these batteries. Major mining corporations such as BHP expect nickel demand to skyrocket in the coming decades, fuelled by the E.V. revolution. This boost in demand is putting strain on nickel supply, resulting in price increases. Nickel prices have already risen in recent years, and some predict that trend to continue as E.V. usage rises. Nickel has traditionally been used primarily in the stainless steel sector. However, the E.V. industry is expected to be the primary growth driver for nickel in the future.

Restraint Factor for the Nickel Market

Environmental and Health Issues to Limit the Sales: One key restraint in the nickel market is the challenge of Environmental and health issues. Nickel is an important metal in today's world. It is an important component of stainless steel, used in a variety of sectors, and used in lithium-ion batteries that power electric vehicles (E.V.s). The worldwide nickel market is expanding as demand for E.V.s rises. However, this expansion has a substantial drawback: environmental and health risks linked with nickel mining and processing. Nickel mining can pollute the air and water via dust, acid mine drainage, and inappropriate waste management. These pollutants can degrade ecosystems, taint drinking water, and impair respiratory health in adjacent communities. Nickel extraction and refining require a lot of energy, and it frequently uses fossil fuels, which contribute to greenhouse gas emissions.

Trends for the Nickel Market

Increasing Demand for Electric Vehicle (EV) Battery Production: The swift expansion of the electric vehicle sector is leading to a notable increase in the need for nickel, especially high-purity Class 1 nickel utilized in lithium-ion batteries. Automobile manufacturers are pursuing reliable sources of nickel to enhance battery energy density, prolong vehicle range, and lessen dependence on cobalt. This movement is transforming global nickel supply chains, prompting mining firms and battery producers to establish strategic alliances and invest in innovative extraction and refining technologies to sustai...

The INSG primarily publishes nickel trade, production and consumption statistics in the form of monthly bulletins and yearbooks. It also publishes: a directory of nickel production facilities, short-term forecasts of nickel production, consumption and market balance; an annual review of new developments in nickel mining, smelting and refining; and an annual compilation of existing or proposed regulations regarding environment, health and safety concerning nickel. Website: http://www.insg.org/index.aspx

Learn about the factors influencing the global nickel supply and demand forecast, including industrial growth, emerging economies, technological advancements, and environmental regulations. Discover how the stainless steel and electric vehicle sectors drive the demand for nickel, and understand the challenges posed by geopolitical events and accessibility of reserves.

This statistic shows a forecast of the volume of nickel supply globally from 2015 to 2020. For 2017, it is predicted that nickel supply will exceed *********** metric tons worldwide. Nickel is most commonly used for making steels, nonferrous alloys, and electroplating. It is also common in both industrial and commercial products.

Learn about the top nickel producers in the world and the complex process of nickel production, including mining, refining, and smelting. Discover how countries like Indonesia, the Philippines, Russia, and Canada contribute to the global nickel supply chain.

Australian nickel production plays a significant role in the global supply of this valuable metal. With rich deposits and advanced mining techniques, Australia has emerged as one of the top nickel producers in the world. This article explores Australia's nickel production process, major mines, and the country's contribution to the global nickel market.

The article discusses the importance of nickel in various industries, its global production levels, and the major producers. It highlights the primary and secondary sources of nickel production and focuses on Indonesia, the largest producer. The article also mentions the significant players in global production such as the Philippines, Russia, New Caledonia, Canada, and Australia. It emphasizes the usage of nickel in stainless steel production and its increasing demand in the battery sector. The article con

Russia is a major producer of nickel, with a rich history and vast reserves. Norilsk Nickel is a key player, operating mines and refineries in Siberia. Other companies like Amur Minerals Corporation and Kola Mining also contribute. Despite challenges like weather and infrastructure, Russia's nickel industry thrives due to advanced technologies and government support. It not only meets domestic demand but also exports to other countries, boosting the economy and attracting investments. Russian nickel pr

Nickel prices skyrocketed on the expectations of a shortage on the global market provoked by the increase in demand that outpaces the supply growth. The rebound in the steel industry and rising electric vehicle manufacturing drive nickel consumption. Pandemic-related lockdowns in the first half of 2020 and the related uncertainty led to a decrease in the global nickel mine output by -4% y-o-y. Despite this, refined nickel production increased by +2% y-o-y, boosted by the recovering demand from mid-2020 and the use of secondary smelting. Indonesia, the largest nickel ore producer worldwide, banned exports of the ore and thus achieved a record output of refined nickel.