From GlobeNewswire: 2024-11-11 06:00:00

The Nickel Pellet Market is set to grow from US$1,950.8 million in 2024 to US$3,473.3 million in 2034, with a 5.9% growth rate. Nickel pellets are used in various industries for alloys, electroplating, and stainless steel production, with stainless steel accounting for a significant portion of global nickel consumption.

Nickel is crucial for lithium-ion batteries, high-performance alloys, and industries like aerospace and power generation. Demand for nickel is driven by its properties for corrosion resistance, toughness, and energy density in electric vehicle batteries. Stainless steel production in Asia-Pacific and Europe also contributes to consistent nickel demand.

The global nickel pellet market is expected to reach US$3,473.3 million by 2034, with Asia Pacific accounting for 38.8% market share in 2024. Stainless steel applications are a key driver, with an absolute dollar opportunity of US$1,522.5 million expected from disinfectants by 2034. The standard purity segment holds a 63.0% market share.

Leading players in the nickel pellet market are focusing on expanding production capacity and sustainable practices to meet rising demand. Collaborations and acquisitions are key strategies for strengthening market positions. For example, Nornickel partnered with Ford for EV nickel supply, and Vale signed a deal with GM for Ultium batteries.

Vale increased nickel processing capacity in Canada to meet battery-grade nickel demand, while Sumitomo Metal Mining expanded high-purity output in Japan. The nickel pellet market is set to grow further, driven by innovations in supply chain, production capacity, and sustainability practices by key industry players.

The global nickel pellet market is part of a broader trend in the minerals industry. Other related markets, such as iron ore pellets, nickel acetate, nickel hydroxide, and nickel-coated fiber, are also experiencing growth and expansion. Fact.MR provides comprehensive market insights to help businesses navigate dynamic challenges and capitalize on emerging opportunities.



Read more at GlobeNewswire: Nickel Pellet Market is Expected to Expand at a CAGR of