Nickel-based alloys also contain cobalt but in much smaller amounts than cobalt-based ones. They are typically composed of nickel, chromium, iron, molybdenum, or tungsten for increased strength or heat resistance. Nickel-based alloys are commonly used in offshore oil production and nuclear power plants due to their superior corrosion resistance compared to other materials. Examples include Inconel 718 (which contains niobium) and Alloy 59 (which contains copper).

Among the major industrial metals, nickel is one of the most versatile. It is valued for its heat and corrosion resistance. It is an important alloy addition in ferrous and nonferrous alloys.Nickel-base alloys play a vital role in the modern industry because of their ability to operate in a wide variety of severe conditions, often involving factors like corrosive environment, high temperature, and high stress.Nickel has good resistance to corrosion in a normal atmosphere, in both fresh and salt waters. Moreover, it resists organic acids and caustic alkalies. It is not resistant however to phosphoric and nitric acids, as well as sulfur compounds.

Nickel and nickel alloys have an excellent combination of corrosion, oxidation, and heat resistance, combined with good mechanical properties. Nickel alloys can be divided into alloys that combine corrosion and heat resistance, superalloys for high-temperature applications, and special nickel alloys. Corrosion- and heat-resistant nickel alloys include commercially pure and low-alloy nickels, nickel-copper alloys, nickel-molybdenum and nickel-silicon alloys, nickel-chromium-iron alloys, nickel-chromium-molybdenum alloys, and nickel-chromium-iron-molybdenum-copper alloys. Special nickel alloys include electrical-resistance alloys, low-expansion alloys, magnetically soft alloys, and shape memory alloys.