Nickel is a shiny silvery-white metal with a faint golden hue denoted by Ni and possessing atomic number 28. According to BlueQuark Research & Consulting, the Global Nickel market is expected to witness a significant growth rate during the forecasted period. Nickel is utilized to make steel, which is used in the construction industry to build highly sustainable structures such as deck plates, coastal defenses, metal homes, educational buildings, skyscrapers, hospitals, commercial buildings, stadiums, and security fencing due to its low cost, high recyclability, and ability to withstand heat while establishing maximum safety is projected to drive the Global Nickel Market. In addition to this, Nickel is being used in the petrochemical industry for refining, oil exploration, catalytic upgrading procedures (such as nitrogen removal), and the manufacturing of petrochemicals (such as hydrogenation production), and it has also been used to discover sources of unregulated crude oil discharges, like spills and seeps, as environmental concerns have grown are expected to drive the Global Nickel market. Further, Nickel is also employed in the chemical industry as a catalyst for the hydrogenation of unsaturated compounds in the vegetable, animal, and fish oils, changing them from liquids to solids, which are then for use in products such as shortening, oleomargarine, and soaps are estimated to drive the Global Nickel market. However, the Global Nickel market is projected to be hampered by potential health hazards from increased sulfur dioxide emissions from the nickel melting process, volatility in nickel pricing, and tight regulatory regulations.

Nickel is a crucial element for the production of coins, its ductile nature allows it to be drawn into wires, the ability to resist corrosion even at high temperatures makes it a commendable option for gas turbines and rocket engines, along with it a small amount of nickel is used to manufacture specialty green glass and variety of nickel alloys are incorporated in the formation of armor plating, nails, and pipes.

The construction industry is a vital consumer of nickel and is expected to drive the global mica market. With increasing growth and urbanization, the demand for durable basic materials that last for a long time and have cutting-edge structural qualities to build stable structures will increase to establish the picture of contemporary civilization, the industry is bound to rise. This is primarily due to the mechanical properties and durability that make it functional and attractive, as well as the exceptional performance and cost-effectiveness, corrosion resistance, and quick formation and fabrication, as well as the fact that it requires little maintenance and offers good strength and toughness, and it is used in a variety of applications, including building framing, bridges, canopies, and security barriers. According to Nucor, a steel manufacturer, its consolidated net sales grew 17% to USD 10.31 billion in the third quarter of 2021, up from USD 8.79 billion in the second quarter and up 109 percent from USD 4.93 billion in the second quarter of 2020. In the third quarter of 2021, the average sales price per ton climbed by 22% compared to the second quarter of 2021 and 86% compared to the third quarter of 2020. Further, steel is also used in the construction of industrial processing facilities, buildings, and structures in coastal areas or where de-icing salts are present, and it is used when seismic loading is required because of its high ductility.

Some of the market's key players are Glencore, Anglo American plc, BHP, Vale, Cunico Corporation, Eramet Group, and Independence Group among others.

The Asia Pacific region is poised to be the leader in the production and the subsequent consumption of Nickel, with most of the consumption in countries like China and India. The region boasts the presence of large stainless-steel manufacturing companies and battery manufacturers, these batteries serve as a heat- and corrosion-resistant alternative for rechargeable batteries, and along with them, China is the global leader in the electric car market and the Chinese central government's principal policies to promote electric vehicles have escalated the use of nickel for the manufacturing of automobiles. In addition to this, significant nickel ore concentrations in the Philippines, New Caledonia, Australia, Indonesia, and China are instrumental in making the region the largest producer of Nickel, and the area is home to rich resources that are distributed among Xinjiang, Yunnan, Jilin, Hubei, and Sichuan, Gansu. Further, the area comprises the world's two biggest armed forces, and to sustain the demands of the perfect functioning of these, the steel manufactured using Nickel is employed. Factors like these have made Asia-Pacific an essential region for growth in the Nickel market.

In December 2021, Vedanta Ltd., led by Anil Agarwal, bought Nicomet, a nickel and cobalt producer situated in Goa, establishing Vedanta as the country's sole nickel producer in India.

In November 2021, Norilsk Nickel, a major producer of nickel, copper, and platinum group metals, is hoping to become a bigger player in the European battery value chain by expanding its Harjavalta nickel refinery in Finland to 100,000 mt/year by 2026, according to the company's Capital Markets Day webcast on Nov. 29.

Global Nickel Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Nickel market by segmenting based on the Product Type (Class One Products, Class Two Products), Application (Castings, Electroplating, Non-Ferrous alloys and superalloys, Batteries, Stainless Steel and Alloy Steel, Others), End-user Industry (Building and Construction, Petrochemicals, Chemical, Electronics, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.