By: Fact.mr

According to a market report, the global nickel mining industry is projected to grow from USD 90.5 billion in 2025 to USD 112.5 billion by 2035, representing a compound annual growth rate (CAGR) of 2.2%. The primary growth driver is sustained demand from the stainless steel sector, which currently accounts for 70% of the market. An increasingly significant secondary driver is the rapid expansion of the electric vehicle battery industry, which is fueling demand for high-purity, battery-grade nickel.

The report highlights a geographical shift, with Indonesia and India expected to be the fastest-growing markets due to ore production expansion and rising stainless steel consumption. The competitive landscape is led by major global mining corporations like MMC Norilsk Nickel and Vale S.A., with competition centered on securing ore reserves, integrating processing, and developing sustainable extraction technologies to meet evolving environmental and battery material standards.