High penetration of electric vehicles is expected to fuel the global nickel hydroxide market over the forecast period

Pune, India, April 17, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Nickel Hydroxide Research Report.

Market Scenario

Nickel Hydroxide has widespread applications as an electrode in rechargeable batteries. Portable devices and consumer electronics demand for rechargeable batteries are driving the global nickel hydroxide market. Increasing demand for electric vehicles in automotive industry is projected to fuel the global nickel hydroxide market and is expected to be the major segment over the forecast period, 2023 - 2032. Moreover, nickel hydroxide is used as a catalyst in the industry. However, the restraining factor that could hamper the global nickel hydroxide market is its carcinogenic property, toxic gases, which is released upon heating and high raw material cost.

Market segmentation

The global nickel hydroxide market is segmented on the basis of application and end use industry.

On the basis of the applications, the global nickel hydroxide market is categorized into - batteries, catalyst, and others (ceramics, glass, optics and electrochemical processes). The global nickel hydroxide market is mainly segregated to its application in electrochemical rechargeable batteries.

On the basis of the end-use industry, the global nickel hydroxide market is segmented into - electronics, automotive, chemical and others. The advancement of using nickel hydroxide in Li-ion batteries will boost the end use applications of global nickel hydroxide market to a large extent in automobile industry. Current nickel hydroxide consumption in electric vehicles is only 3% with global EV penetration in the automobile industry limited to 1%. However, with the rising penetration curve with the need to replace existing vehicles with green electric vehicle, nickel hydroxide consumption is expected to double in 2032 and more in the coming years.

Regional Analysis

The global nickel hydroxide market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share, followed by Europe, then North America. Highly populated countries like China and India and strong electronic base industry in Japan and South Korea is driving the nickel hydroxide market in Asia Pacific. European countries have join the ambitious plan under the Paris climate accord to end sales of petrol and diesel vehicles by 2040. North American country Norway’s government transportation plan outlines a clear target that all new passenger cars and vans sold in 2025 should be zero-emission vehicles.

Competitive Analysis

The major players of global nickel hydroxide market are Sigma-Aldrich, Inc., Norilsk Nickel, Alt Cobalt and Nickel Products (dalian) Co. Ltd,Nippy Chemicals., Jilin Jien Nickel Industry Co., Ltd., American elements, Tinchem Enterprise, Kelong, Umicore, Triveni chemicals., SUMITOMO METAL MINING CO.,LTD. , Tanaka Chemical Corporation, ZincFive, Inc., Jiangmen chancsun Umicore Industry Co., Ltd, and Changsha Xinye Industrial Co. Ltd.Get Full Information about this report: Nickel Hydroxide Market Size