What is the future of nickel supply?

By 2030, nickel demand will reach 4.9 million tonnes, driven by the electric vehicle (EV) market and renewable energy storage needs. IRENA projects a positive outlook for nickel supply, but challenges remain in meeting the rising demand. However, the demand surge is expected to face fewer supply shortages compared to other critical materials.

How will nickel affect the future energy industry?

Nickel’s production and supply will have an immense influence on the clean energy transition and the future energy industry. Nickel, together with lithium and certain rare earths, is high in importance to energy technologies and high in supply risk in the medium-term (2025-2035).

How has nickel demand impacted the battery industry?

As a result, projected nickel demand growth from the battery sector has moderated, even as supply continues to climb. Price Dynamics and Industry Response The result has been sharp price declines.

Is securing nickel resources a matter of national security?

For North America, securing nickel resources is no longer just an economic necessity—it’s a matter of national security. With Indonesia tightening its grip and global demand surging, the race for nickel is shaping up to be one of the defining economic and geopolitical challenges of the decade.

Is nickel mining a case study for global battery supply chains?

Melissa Lott: This giant towering industrial development on Obira Island is both an open pit nickel mining facility and a nickel processing refinery. It’s a case study for how the economic forces behind global battery supply chains are playing out in one place. Rebecca Tan: Nickel in general in the past has been used in mine primarily for steel.

Will global nickel production meet future demand?

As you can see in the infographic, global nickel production has surged over the past two decades, increasing from 1.1 million tons in 2000 to 3.7 million tons in 2023. However, this growth may not be enough to meet future demand.