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Nickel Hydroxide Market- Forecast to 2030

Nickel Hydroxide Market Segmented Information: by Application (Batteries, Catalyst), End-Use Industry (Automotive Industry, Electronic Industry, Chemical Industry) and Region - Forecast to 2030

ID: MRFR/CnM/0548-CR | August 2016 | Region: Global | 110 pages

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Nickel Hydroxide Market Overview


It is expected that the market is expected to grow at a high CAGR of 6% to account for a higher market value of approximately USD 2,841.91 million by the end of the forecasted period 2020-2030.

An organic compound whose chemical formula is Ni(OH)2 or Nickel (II) hydroxide largely used in batteries, automotive industry, and chemical industry boost the nickel hydroxide market in the market. The nickel hydroxide is generally available in apple green, odorless, crystalline solid, and powder form. It is a naturally occurring mineral theophrastite. Nickel hydroxide is highly electroactive and can easily be converted in response to an electric stimulus into Ni(III) oxy-hydroxide. Nickel hydroxide can be non-oxidizing and non-explosive under static conditions. Nickel hydroxide is highly dissolvable in ammonium hydroxide and water. It has a density of 4g/cm3 which is more than water.


COVID 19 Analysis


The situation of the global pandemic of COVID 19 has affected the normal working of the population of all regions in the global market. The outbreak of COVID 19 has pushed the economies towards forced recession owing to which now, everyone has to deal with financial crises along with health issues. The lockdown situation and post lockdown situation have resulted in the shutdown of various manufacturing sites of nickel hydroxide which lead to a steep downfall in the sales revenue of the market.


However, it is expected that the market for nickel hydroxide will recover from this pandemic situation by the end of the third quarter of the coming year.


Competitive Landscape


The most of the prominent market  key players in the nickel hydroxide market in the global market are as follows:



  • 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

  • Changsha Xinye Industrial Co. Ltd.


These most prominent major market key players use various strategies in the global market to expand the customer base by doing a collaboration, establishing new joint ventures, mergers, and acquisitions, establishing a new partnership, developing a new product, developing the new production process to cater to the growing demand for market.


Market Dynamics


Drivers


The nickel hydroxide market is increasing at a tremendous rate owing to an increase in the demand for the electrodes which is majorly used in electrochemical batteries and hence accelerated the growth of the market. Various unique features like utmost reliability, superior performance, and long battery life increase the demand for nickel hydroxide-based batteries and help in boosting the growth of the nickel hydroxide market in the global market.


Opportunities


The growing demand for nickel hydroxide in the global market provides various growth opportunities in the market. The nickel hydroxide market is not only largely used in the electronics industry but its impurity removing property from the water provides growth opportunities in the chemical industry as well during the forecasted period. Also, the use of nickel hydroxide in the formation of Nickel Oxide (NiO) and its application in the ceramics industry provides various growth opportunities in the global market.


Restraints


The nickel hydroxide market is penetrating deep in the global market, but some factors restrict the growth of this market like the growing toxicity concerns with the use of nickel hydroxide hampers the growth of the nickel hydroxide market in the global market. Also, the increasing use of nickel hydroxide in the chemical industry and electric industry resulted in the development of nasal and lung cancer owing to the presence of carcinogenic properties that hinder the growth of the market.


Value Chain Analysis


The nickel hydroxide market is growing rapidly in the global market owing to its varied application in different industries like the chemical industry, electronics industry, and consumer products industries. The nickel hydroxide is manufactured electronically by anodic oxidation and alkali metal hydroxides and hence the nickel hydroxide produced is pure and environment-friendly. The nickel hydroxide made electronically, has 90% less salt content as compared to nickel hydroxide made by precipitation.


Market Segmentation


The nickel hydroxide market in the global market has been divided based on the application, end-users, and region.


Based on the Application



  • The market has been divided based on the application into catalyst, batteries, glass, ceramics, optics, few more electrochemical, and many others. The batteries division is further sub-divided into mid-high rate batteries and pocket batteries.


Based on the End-Users



  • The market has been divided based on the end-users into chemical industry, electronics industry, automotive industry, and many others.


Based on the Region



  • The market has been divided based on the region into Latin American region, the Middle East and African region, European region, North American region, and the Asia-Pacific region.


Regional Analysis


The nickel hydroxide market in the global market has been divided based on the region into Latin American region, the Middle East and African region, European region, North American region, and the Asia-Pacific region. The largest market share in the nickel hydroxide market in the global market is held by the Asia-Pacific region owing to the increasing demand for nickel hydroxide in the region especially for battery manufacturing that is used in the hybrid electric vehicle, portable devices, consumer products, and various other products. There is high demand for nickel hydroxide in South Korea and Japan as they have a strong electronic market.


The second-largest market share in the nickel hydroxide market in the global market is held by the European region owing to the increasing use of nickel hydroxide in electric hybrid vehicles. The growing demand for nickel hydroxide in the countries like Germany, France, Britain, Sweden, and the Netherlands also drives the growth of the nickel hydroxide market in the European region. The third-largest market share in the nickel hydroxide market in the global market is held by the North American region owing to the increasing sale of electric and hybrid vehicles over the years which ultimately increases the demand for nickel hydroxide in the North American region.


Recent Developments



  • China accounts for the highest market growth rate and market value in this market during the forecasted period followed by India and hence the Asia-Pacific region accounts for the largest market share in this market.

  • Various countries of the European region have joined for a plan under the Paris Climate Accord which will reduce the sale of diesel and petrol by the end of 2040 to reduce the harmful effects of waste generated by petrol and diesel. The countries which have come together are Netherlands, Sweden, Germany, and many others.

  • Nippy Chemicals is adopting various strategies to tap the potential market in the global market by innovating the existing product, developing a new product, and development of a new method of producing to sustain in the global market.

  • Jiangmen Chancsun Umicore Industry Co. Ltd is spending a lot amount on research and development which will reward the company in the long run in the form of increased sales and more profit margins.


Report Overview


The global market research report consist of the following elements:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This global nickel hydroxide market research report contains various factors that drive the growth of this market along with the factors that restrict the growth of the market. The growth opportunities available in the market during the forecasted period are mentioned. The impact of the global pandemic of COVID 19 on the nickel hydroxide market is also mentioned. The future growth market share is estimated and mentioned.


Users


Nationalized laboratories, raw material suppliers, potential investors, production process industries, traders and distributors of nickel hydroxide, nickel hydroxide market manufacturers, and many others.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 USD 2,841.91 Million
  CAGR   6% (2020-2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Application, End-Use Industry
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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, Changsha Xinye Industrial Co. Ltd.
  Key Market Opportunities   Largely used in the electronics industry but its impurity removing property from the water provides growth opportunities in the chemical industry as well during the forecasted period.
  Key Market Drivers   Increase in the demand for the electrodes which is majorly used in electrochemical batteries.


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Frequently Asked Questions (FAQ) :

The nickel hydroxide market is expected to grow at a high CAGR of 6% in the global market by the end of the forecasted period.

The nickel hydroxide market is expected to account for a market share value of approximately USD 2841.91 million in the global market.

The major key player in the nickel hydroxide market in the global market are Jilin Jien Nickel Industry Co., Ltd., Changsha Xinye Industrial Co. Ltd., Nippy Chemicals, Umicore.