Nickel is primarily sold for first use as refined metal (cathode, powder, briquet, etc.) or ferronickel. About 65% of the nickel consumed in the Western World is used to make austenitic stainless steel. Another 12% goes into superalloys (e.g., Inconel 600) or nonferrous alloys (e.g., cupronickel). Both families of alloys are widely used because of their corrosion resistance. The aerospace industry is a leading consumer of nickel-base superalloys. Turbine blades, discs and other critical parts of jet engines are fabricated from superalloys. Nickel-base superalloys are also used in land-based combustion turbines, such those found at electric power generation stations. The remaining 23% of consumption is divided between alloy steels, rechargeable batteries, catalysts and other chemicals, coinage, foundry products, and plating.
I expect that the share of consumption going to batteries will plateau this decade, since nickel-free lithium iron phosphate batteries are rapidly growing market share:
The rise of cheaper lithium iron phosphate (LFP) batteries will continue this year, with the cell chemistry set to account for almost 50% of all market demand. LFP cells are forecast to increase their market share to 48% in 2024, from 45% of demand in 2023, according to Benchmark’s Lithium Ion Battery Database.
And sodium ion batteries free of nickel and lithium are now commercially available and ramping up production:
The headline is misleading since not only is nickel mostly used in stainless steel but also the dramatic incident that opens the article as narrative hook is at a facility that produces stainless steel: "The metal is a crucial component for making stainless steel, the purpose of the facility where the explosion occurred."