Nickel-plated Steel Sheet Market Size, Share, Growth, and Industry Analysis, By Type (Matte and Gloss), By Application (Alkaline Batteries, Lithium Batteries, Automotive and Other), Regional Insights and Forecast From 2034

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NICKEL-PLATED STEEL SHEET MARKET OVERVIEW

The nickel-plated steel sheet market value at USD 0.56 billion in 2025, and reaching USD 1.03 billion by 2034, expanding at a CAGR of 7.05% from 2025 to 2034. Asia-Pacific is dominating the nickel-plated steel sheet market share in 2025.

Nickel-plated steel sheet is highly resistant to corrosion, durable, has a smooth, shiny finish, is a good conductor of electricity, and is resistant to high temperatures. It is also relatively inexpensive and easy to work with. These advantages make nickel-plated steel sheet a versatile and cost-effective material for a wide variety of applications. Some of the specific applications where nickel-plated steel sheet is used include automotive, electronics, medical devices, construction, and industrial equipment.

KEY FINDINGS

COVID-19 IMPACT

Imposed Restrictions in the Economy Which Led to a Decline in Demand for Nickel-plated Steel Sheet Market

The global COVID-19 pandemic has been unprecedented and staggering, with the nickel-plated steel sheet market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic has had a significant impact on the nickel-plated steel sheet market. The pandemic has led to a decline in demand for nickel-plated steel sheet in a number of key end-use industries, including automotive, electrical, and machinery. This has resulted in a decrease in production and sales of nickel-plated steel sheet.

The COVID-19 pandemic has had a significant impact on the Nickel-plated Steel Sheet market. The market experienced a sharp decline in demand in the early stages of the pandemic, as businesses and consumers were forced to shut down or reduce their operations. This led to a decrease in production and an increase in inventory levels. As the pandemic has progressed, demand for Nickel-plated Steel Sheet has begun to recover. However, the market is still facing challenges, such as supply chain disruptions and rising costs. These challenges are expected to continue to weigh on the market in the near term. However, the market is expected to experience some volatility in the near term due to the ongoing pandemic. Despite these challenges, the Nickel-plated Steel Sheet market is expected to recover in the long term. The market is expected to benefit from the growth of the automotive and electronics industries. Additionally, the market is expected to see growth in new applications, such as medical devices and renewable energy.

LATEST TRENDS

Higher Standards of Performance by Increase in Infrastructure Spending to Grow Market Potentially

The growth of the automotive and electronics industries: The automotive and electronics industries are two of the largest consumers of nickel-plated steel sheet. The growth of these industries is expected to drive demand for nickel-plated steel sheet in the coming years. The development of new applications: Nickel-plated steel sheet is being used in a wider range of applications, such as medical devices and renewable energy. The development of new applications is expected to create new growth opportunities for the nickel-plated steel sheet market. The increasing demand for corrosion-resistant materials: Nickel-plated steel sheet is highly resistant to corrosion, making it ideal for use in applications where there is a risk of exposure to water, chemicals, or other corrosive agents. The increasing demand for corrosion-resistant materials is expected to boost demand for nickel-plated steel sheet in the coming years. The development of new coating technologies: New coating technologies are being developed that can improve the performance of nickel-plated steel sheet. These new coating technologies are expected to make nickel-plated steel sheet more resistant to corrosion, wear, and heat, which will create new growth opportunities for the market.

• Asia-Pacific contributed over 48% of global nickel-plated steel sheet production in 2024, driven by demand in China, India, and Japan.
• Electroless nickel-plating technologies accounted for approximately 30% of newly adopted surface treatment methods in battery and electronics applications.

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NICKEL-PLATED STEEL SHEET MARKET SEGMENTATION

By Type

Based on type the nickel-plated steel sheet market is classified as matte and gloss.

• Matte:  Matte finishes offer a smooth, non-reflective surface that gives a subtle and elegant look. Ideal for reducing glare, they provide a modern, understated aesthetic in both prints and products.
• Gloss: Gloss finishes deliver a shiny, reflective surface that enhances color vibrancy and visual impact. Perfect for a bold, polished look, they attract attention and add a sleek finish to any design

By Application

Based on application the nickel-plated steel sheet market is classified as alkaline batteries, lithium batteries, automotive and other.

• Alkaline Batteries: Alkaline batteries are widely used for everyday electronics due to their long shelf life and reliable power output. They are cost-effective and ideal for devices like remote controls, clocks, and flashlights.
• Lithium Batteries: Lithium batteries offer high energy density and longer lifespan, making them perfect for high-performance devices. They are commonly used in smartphones, laptops, and other portable electronics.
• Automotive: Automotive batteries provide the cranking power needed to start engines and support vehicle electrical systems. Designed for durability, they perform reliably in both extreme weather and heavy-duty conditions.
• Other: Other batteries include specialized types like nickel-cadmium, lead-acid, or rechargeable packs for niche applications. These are tailored for specific industrial, medical, or backup power needs

DRIVING FACTORS

Growth of the automotive and electronics industries

The automotive and electronics industries are two of the largest consumers of nickel-plated steel sheet. The growth of these industries is expected to drive demand for nickel-plated steel sheet in the coming years.

• The automotive and electronics sectors collectively consumed more than 60% of total nickel-plated steel sheets in 2024, supporting strong industrial uptake
• Battery-specific applications, particularly lithium-ion and alkaline batteries, accounted for approximately 22% of total product utilization globally

Development of new coating technologies

New coating technologies are being developed that can improve the performance of nickel-plated steel sheet. These new coating technologies are expected to make nickel-plated steel sheet more resistant to corrosion, wear, and heat, which will create new growth opportunities for the market.

Increasing demand for corrosion-resistant materials

Nickel-plated steel sheet is highly resistant to corrosion, making it ideal for use in applications where there is a risk of exposure to water, chemicals, or other corrosive agents. The increasing demand for corrosion-resistant materials is expected to boost demand for nickel-plated steel sheet in the coming years.

RESTRAINING FACTORS

Several Challenges Associated with the Local Irritation to Restrain the Market

The nickel-plated steel sheet market is expected to grow in the coming years, but there are a number of factors that could restrain its growth. One of the biggest challenges is the high cost of nickel. Nickel is a relatively expensive metal, and this can drive up the cost of nickel-plated steel sheet. This can make it less competitive with other materials, such as stainless steel. Another restraining factor is environmental concerns. The production of nickel-plated steel sheet can generate environmental pollutants. This can lead to stricter environmental regulations, which could make it more difficult and expensive to produce nickel-plated steel sheet. Finally, there are a number of substitutes for nickel-plated steel sheet. These substitutes can be less expensive and have similar properties, which could limit demand for nickel-plated steel sheet.

• Raw material price fluctuations caused a 15% swing in average production costs during 2023–2024, directly impacting manufacturing profitability
• Substitute materials such as stainless steel and aluminum occupied nearly 25% of the corrosion-resistant sheet metal market, reducing dependency on nickel-plated steel

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NICKEL-PLATED STEEL SHEET MARKET REGIONAL INSIGHTS

Asia-Pacific Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers

The nickel-plated steel sheet market is expected to grow in all regions in the coming years. However, Asia-Pacific is expected to be the fastest-growing region, followed by North America and Europe. The growth of the automotive and electronics industries in these regions is driving the demand for nickel-plated steel sheet. The rest of the world is expected to grow at a slower pace, but there are still some growth opportunities in this region, such as the growth of the construction industry.

KEY INDUSTRY PLAYERS

Financial Players to Contribute Towards Expansion of Market

The Nickel-plated Steel Sheet market is dominated by a few key players, including NIPPON STEEL, Toyo Kohan, Tata Steel, TCC Steel, Zhongshan Sanmei, Jiangsu Jiutian, Nonfemet, and Yongsheng New Material. These companies are all major producers of nickel-plated steel sheet and have a strong presence in the global market. The competition in this market is fierce, and the companies that are able to innovate and offer high-quality products are likely to be the most successful in the long run.

• Jiangsu Jiutian: Accounted for approximately 10% of Asia-Pacific's total nickel-plated steel sheet manufacturing capacity in 2024.
• Toyo Kohan: Contributed over 80% of Japan-origin nickel-plated steel sheet exports to the United States during key trade periods

List of Top Nickel-plated Steel Sheet Companies

• Jiangsu Jiutian
• Toyo Kohan
• Zhongshan Sanmei
• NIPPON STEEL
• Tata Steel
• TCC Steel
• Yongsheng New Material

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.