電池用ニッケル（～2030年）

ニッケルは電気自動車用バッテリーやステンレス鋼産業の重要な資源であり、世界の需要は着実に増加しています。近年の高圧酸浸出法（HPAL）やニッケルマット技術の発展により、低品位鉱石の加工が可能となり、環境にやさしい生産が加速している産業の1つです。世界経済とエネルギー転換に不可欠な資源として台頭しつつある重要な鉱物として、インドネシアと中国が採掘で重要な役割を果たしています。

ニッケル価格は、EV需要の増加とパンデミックによるサプライチェーンの問題により、2022年に1トン当たり2万5,000米ドルを超えましたが、EV市場の減速と中国の不動産市場の低迷により、2024年に1万米ドル下落し1万5,000米ドルとなっています。特に、LFP電池の台頭と電気自動車のキャズム現象は、需要予測の失敗による企業のリスクを高めています。こうした不安定な市場動向は、成長予測を困難にしています。

当レポートでは、電池用ニッケル産業について調査分析し、電池産業におけるニッケルの使用状況、供給と価格の見通し、採掘技術と生産プロセスなどの情報を提供しています。

Nickel is a key resource for electric vehicle batteries and the stainless-steel industry, and global demand is steadily increasing. Recently, with the development of high-pressure acid leaching (HPAL) and nickel matte technology, processing of low-grade ores has become possible, and it is one of the industries where eco-friendly production is accelerating. As a key mineral that is emerging as an essential resource for the global economy and energy transition, Indonesia and China are playing an important role in mining.

Nickel prices exceeded USD 25,000 per ton in 2022 due to increased EV demand and supply chain issues caused by the pandemic, but fell to USD 15,000 per ton in 2024, down USD 10,000, due to the slowdown in the EV market and the sluggishness of the Chinese real estate market. In particular, the rise of LFP batteries and the electric vehicle chasm phenomenon are increasing the risks for companies due to failures in demand forecasting. Such unstable market trends are making it difficult to predict growth.

This report provides an in-depth examination of the latest technologies in the upstream electric vehicle industry, covering the entire process from nickel ore beneficiation and mining to the refining of nickel sulfate, which is used as a key material in batteries. It also includes an analysis of the production status, investment trends, and outlook of key production countries and companies, including Indonesia. From the perspectives of the battery and electric vehicle markets, the report offers insights into global nickel consumption by cathode material manufacturers, battery producers, and EV OEMs. Finally, it presents an analysis of nickel supply and demand forecasts and price outlooks, drawing on data and insights from SNE Research.

This report is systematically structured to ensure that anyone, from upstream industry experts to non-specialists outside the sector, can clearly and easily understand the entire nickel industry. Additionally, it provides essential insights for global companies, investors, and policymakers to develop sustainable growth strategies amid the rapidly changing market environment.

Strong Points of This Report:

1. Nickel usage in the battery industry

This section provides a quarterly analysis of nickel usage by global battery, electric vehicle (EV), and cathode material manufacturers, along with a forecast for Q4 2024. It predicts nickel demand in the EV industry, offering valuable insights for companies to optimize production plans and proactively manage supply chain risks.

2. Nickel supply and price outlook

Based on SNE Research's core data and market insights, this section presents a long-term nickel supply and price outlook through 2030. It provides an in-depth analysis of price fluctuations, based on the global supply-demand balance, helping investors and companies make strategic decisions.

3. Nickel mining technology and production processes

This report offers detailed information on the beneficiation and refining technologies for both oxide and sulfide ores. It includes insights into the production processes of 11 major companies, highlighting the latest technological trends and production efficiencies. This section helps clarify how advancements in mining and refining technologies impact the industry.

4. Understanding the nickel industry

This section explains the different types of nickel ores, intermediates, and final products, as well as the use of nickel in various industries, including stainless steel and alloys. It is designed to provide a comprehensive view of the latest industry trends and outlook, making it accessible to both non-specialists and industry experts alike.

Table of Tables

1. Nickel Raw Materials Outlook

• 1.1. Characteristics of Nickel Raw Materials
  • 1.1.1. History of Nickel
  • 1.1.2. Types of Nickel Ores
• 1.2. Global Nickel Reserves
• 1.3. Types of Nickel-containing Minerals
  • 1.3.1. Nickel Sulfide Ores
  • 1.3.2. Nickel Oxide Ores
  • 1.3.3. Other Nickel-containing Minerals
• 1.4. Nickel Processing and Production
  • 1.4.1. Nickel Production Process
  • 1.4.2. Types and Characteristics of Nickel Products
  • 1.4.3. Nickel Intermediates

2. Nickel Industry Trends

• 2.1. Nickel Industry Usage Share
• 2.2. Global Nickel Consumption and Smelting
• 2.3. Nickel Product Characteristics
  • 2.3.1. Class 1 Nickel
  • 2.3.2. Nickel Pig Iron (NPI)
  • 2.3.3. Ferron Nickel
  • 2.3.4. MSP, MHP
  • 2.3.5. MHP and HPAL Technology
  • 2.3.6. Nickel Matte
  • 2.3.7. Stainless Steel (STS)

3. Nickel Mining Country Trends and Outlook

• 3.1. Indonesia
  • 3.1.1. Indonesia's Nickel Industry
  • 3.1.2. Key Mining Areas - Sulawesi (Morowali)
  • 3.1.3. Key Mining Areas - Maluku (Weda Bay)
  • 3.1.4. Indonesia's Nickel Regulations and Price Changes
  • 3.1.5. Indonesia's Mining Law
  • 3.1.6. Indonesia's Nickel Production
  • 3.1.7. Outlook for Indonesia's Nickel Production
  • 3.1.8. Key NPI/FeNi Projects
  • 3.1.9. Upcoming NPI/FeNi Projects
  • 3.1.10. Other Nickel Smelting Projects
  • 3.1.11. Foreign Investment Trends
• 3.2. Australia
  • 3.2.1. Nickel Mines in Australia
  • 3.2.2. Australia's Nickel Industry
  • 3.2.3. Issues in Australia's Mining Industry
  • 3.2.4. Outlook for Australia's Nickel Production
  • 3.2.5. Key Nickel Mining Projects in Australia
• 3.3. Philippines
  • 3.3.1. Nickel Industry in the Philippines
  • 3.3.2. Nickel Smelting Industry in the Philippines
  • 3.3.3. Regional Mining Characteristics and Trends
  • 3.3.4. Mining-related Policies
  • 3.3.5. Nickel Production in the Philippines
  • 3.3.6. Outlook for Nickel Production in the Philippines
  • 3.3.7. Nickel Projects in the Philippines
  • 3.3.8. Latest Trends in the Philippine Nickel Industry
• 3.4. Russia
  • 3.4.1. Russia's Nickel Industry
  • 3.4.2. Nickel Mining Areas in Russia
  • 3.4.3. Issues Related to Metal Trading and Import Bans, and Price Trends
  • 3.4.4. Nickel Production in Russia
  • 3.4.5. Outlook for Nickel Production in Russia
  • 3.4.6. Nickel Projects in Russia
• 3.5. New Caledonia (Nouvelle-Caledonie)
  • 3.5.1. Nickel Industry in New Caledonia
  • 3.5.2. Key Mining Companies
  • 3.5.3. South Korean Companies Operating in New Caledonia
  • 3.5.4. Nickel Exports and Production
  • 3.5.5. Outlook for Nickel Production in New Caledonia
• 3.6. Canada
  • 3.6.1. Canada's Nickel Industry
  • 3.6.2. Canada's Critical Minerals Strategy and Goals
  • 3.6.3. Trends in Battery and EV Industry Investments
  • 3.6.4. Investment Trends in Nickel Companies
  • 3.6.5. Nickel Production in Canada
  • 3.6.6. Outlook for Nickel Production in Canada
• 3.7. China
  • 3.7.1. China's Nickel Industry
  • 3.7.2. Nickel Consumption in China
  • 3.7.3. Nickel Mining in China
  • 3.7.4. Nickel Product Import/Export Trends
  • 3.7.5. China's Nickel Sulfate Production
  • 3.7.6. Stainless Steel Nickel Industry
  • 3.7.7. Outlook for Nickel Mining in China
  • 3.7.8. Policies for the Development of the Nickel Industry in China

4. Global Nickel Supply and Demand Status & Outlook

• 4.1. Global Nickel Supply Status
• 4.2. Global Nickel Supply Outlook
• 4.3. Nickel Mining by Ore Type
• 4.4. Outlook for Nickel Sulfate Supply
• 4.5. Global Nickel Supply and Demand Outlook
• 4.6. Outlook for Nickel Demand in Batteries

5. Outlook for Nickel Demand in EVs by Global OEMs

• 5.1. Nickel Demand for Global Commercial EVs
• 5.2. Nickel Demand from US Sales OEMs
• 5.3. Nickel Demand from Europe Sales OEMs
• 5.4. Nickel Demand from China Sales OEMs

6. Nickel Usage by Country for EVs

• 6.1. Nickel Usage by Cathode Material Companies
  • 6.1.1. United States
  • 6.1.2. Europe
  • 6.1.3. China
• 6.2. Nickel Usage by Battery Companies
  • 6.2.1. United States
  • 6.2.2. Europe
  • 6.2.3. China

7. Nickel Price Analysis

• 7.1. Nickel Price Fluctuation Factors
• 7.2. Nickel Price Trend
• 7.3. Nickel Price and Investment Return
• 7.4. Nickel Production Cost by Period
• 7.5. Nickel Sulfate Production Return Comparison
• 7.6. Global Nickel Price Long-Term Outlook
• 7.7. Global Nickel Price Scenario
• 7.8. Battery-Grade Nickel Sulfate Price

8. Understanding Nickel Commodities

• 8.1. LME Nickel Futures Contracts
• 8.2. Features of Nickel Trading Platforms
• 8.3. Nickel Futures Contract Process
• 8.4. Nickel Trading Strategies

9. Nickel Production Technology

• 9.1. Nickel Beneficiation Technology
  • 9.1.1. Understanding Beneficiation
  • 9.1.2. Nickel Sulfide Ore Beneficiation
  • 9.1.3. Nickel Oxide Ore Beneficiation
  • 9.1.4. Beneficiation Technologies by Company
• 9.2. Nickel Smelting Process
  • 9.2.1. Oxide Ore (Laterite)
  • 9.2.2. Oxide Ore (Limonite) High-Pressure Acid Leaching (HPAL) Process
  • 9.2.3. Oxide Ore (Limonite) Caron Process
  • 9.2.4. Oxide Ore (Saprolite) RKEF Process
  • 9.2.5. Oxide Ore (Saprolite) Tsingshan Process
  • 9.2.6. Comparison of NPI and Matte Processes for Oxide Ore (Saprolite)
  • 9.2.7. Sulfide Ore Smelting Process
  • 9.2.8. Sulfide Ore Dry Smelting (Smelting-Converting)
  • 9.2.9. Nickel Dry Smelting (Carbonyl Process)
  • 9.2.10. Nickel Refining Supply Chain
• 9.3. Outlook for Nickel Processing Technologies
  • 9.3.1. DNi Process(TM)
  • 9.3.2. HCl Leaching - CRETECH
  • 9.3.3. Phosphoric Acid Leaching
  • 9.3.4. Bio Leaching
  • 9.3.5. Nickel Hydrogen Reduction

10. Nickel Production Technologies by Company

• 10.1. POSCO Group (South Korea)
• 10.2. Nornickel (Russia)
• 10.3. Vale (Brazil)
• 10.4. Glencore (Switzerland)
• 10.5. BHP (Australia, UK)
• 10.6. Anglo American (UK)
• 10.7. South32 (Australia)
• 10.8. IGO (Australia)
• 10.9. Eramet (France)
• 10.10. Sumitomo Metal Mining (Japan)
• 10.11. Jinchuan Group (China)

11. Nickel Mining Company Analysis

• 11.1. Nornickel (Russia)
• 11.2. Vale (Brazil)
• 11.3. Glencore (Switzerland)
• 11.4. BHP (Australia, UK)