The India Nickel Matte Market was valued at USD 89 million in 2024 and is projected to reach USD 122.7 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period (2024-2030). This growth is propelled by expanding stainless steel manufacturing, surging EV battery demand, and technological advancements in nickel extraction processes.

As India positions itself as a global manufacturing hub, nickel matte serves as a critical intermediate in metal production chains. Here we analyze the Top 10 Companies in the India Nickel Matte Market—comprising public sector giants, integrated metal producers, and strategic material specialists driving the country’s nickel supply ecosystem.

---

🔟 1. Hindustan Copper Ltd.

Headquarters: Kolkata, India
Key Offering: Nickel Matte, Copper-Nickel concentrates

As India’s sole vertically integrated copper producer under the Ministry of Mines, Hindustan Copper has developed significant nickel matte capabilities through its polymetallic ore processing operations.

Production Capabilities:

• 700+ TPD copper smelting capacity with nickel byproduct recovery
• Strategic collaborations for nickel extraction technology
• Specialized production for defense and renewable energy applications

Download FREE Sample Report: India Nickel Matte Market – View in Detailed Research Report

---

9️⃣ 2. Vedanta Limited

Headquarters: Mumbai, India
Key Offering: Nickel Matte, Zinc-Nickel byproducts

Vedanta’s copper division processes international nickel-bearing feed materials into matte for domestic stainless steel producers, with systematic investments in metal recovery efficiency.

Production Capabilities:

• 400 ktpa copper smelting operations
• Advanced nickel recovery from converter slag

---

8️⃣ 3. Hindalco Industries Ltd.

Headquarters: Mumbai, India
Key Offering: Nickel-containing intermediates, Custom alloys

This Aditya Birla Group metals powerhouse supplies nickel-bearing products across multiple industries through its integrated aluminum and copper operations.

Production Capabilities:

• 1.5 mtpa aluminum production capacity
• Specialized nickel alloy development

---

7️⃣ 4. Jindal Stainless Ltd.

Headquarters: New Delhi, India
Key Offering: Stainless steel products, Nickel matte procurement

India’s largest stainless steel manufacturer maintains strategic nickel matte supply chains to ensure raw material security for its 1.9 mtpa production capacity.

Strategic Initiatives:

• Long-term offtake agreements with matte producers
• Nickel supply chain diversification programs

Download FREE Sample Report: India Nickel Matte Market – View in Detailed Research Report

---

6️⃣ 5. Tata Steel Limited

Headquarters: Mumbai, India
Key Offering: Specialty steels, Nickel-containing alloys

Tata Steel processes nickel intermediates through its Ferro Alloys division to manufacture specialized products for automotive and infrastructure sectors.

Production Capabilities:

• 34 mtpa crude steel capacity
• Nickel alloy research center in Jamshedpur

---

5️⃣ 6. SAIL – Steel Authority of India Limited

Headquarters: New Delhi, India
Key Offering: Alloy steels, Nickel processing

This Maharatna PSU is developing indigenous nickel matte capabilities to reduce import dependence for critical sectors like defense and aerospace.

Strategic Initiatives:

• Government-funded nickel processing R&D
• Strategic materials security programs

---

4️⃣ 7. Nalco – National Aluminium Company Ltd.

Headquarters: Bhubaneswar, India
Key Offering: Nickel byproducts, Aluminium-nickel alloys

Nalco is pioneering nickel recovery from bauxite residue, potentially creating new domestic nickel sources while advancing circular economy principles.

Innovation Focus:

• Red mud valorization projects
• Byproduct metal recovery technologies

---

3️⃣ 8. Mishra Dhatu Nigam Limited

Headquarters: Hyderabad, India
Key Offering: Superalloys, Defense-grade materials

Midhani processes high-purity nickel matte for strategic applications in defense, aerospace, and nuclear sectors through its advanced metallurgical facilities.

Strategic Importance:

• Critical supplier to DRDO and ISRO
• Specialty alloy development center

---

2️⃣ 9. JSW Steel Ltd.

Headquarters: Mumbai, India
Key Offering: Stainless steel, Nickel alloy products

JSW Steel is expanding its nickel procurement network to support growing production of premium stainless steel grades and nickel-based alloys.

Market Strategy:

• Global raw material sourcing
• Domestic value chain integration

---

1️⃣ 10. MOIL Limited

Headquarters: Nagpur, India
Key Offering: Manganese products, Nickel-bearing ores

India’s largest manganese miner is evaluating nickel coproduct recovery from its mining operations to contribute to domestic nickel supply security.

Exploration Focus:

• Polymetallic resource assessment
• Strategic mineral development programs

Get Full Report Here: India Nickel Matte Market – View in Detailed Research Report

---

🌍 Outlook: Nickel Matte’s Pivotal Role in India’s Industrial Growth

The Indian nickel matte market stands at an inflection point, with demand surging from both traditional industries and emerging clean technology sectors.

📈 Key Market Drivers:

• Stainless steel production growth at 7% CAGR
• EV battery manufacturing incentives under PLI scheme
• National Mineral Policy focus on critical metals
• Advancements in hydrometallurgical processing

Read Full Report: India Nickel Matte Market – View in Detailed Research Report

These industry leaders are building the foundation for India’s self-reliance in nickel supply, essential for both existing industrial base and future-oriented technologies.