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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Nickel Hydroxide Market Outlook
The global nickel hydroxide market is expected to grow in the forecast period of 2024-2032 at a CAGR of 5%.
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The Asia Pacific Market to Be Aided by the Increased Demand for Batteries
The global market for nickel hydroxide is expected to record a healthy growth over the forecast period. Based on geography, the market is broadly classified into five major regions, namely North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is predicted to emerge as the key market for nickel hydroxide. China held a substantial amount of market share owing to the surging demand for electrochemical batteries. Advancements in the electronic industry in countries such as Japan, South Korea, China, and India are expected to aid the nickel hydroxide industry in the Asia Pacific region. North America and Europe are also predicted to be significant regional markets. By application, the battery industry is a major segment contributing to the nickel hydroxide industry due to the increased demand for mid-high rate batteries.
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Nickel hydroxide: Market Segmentation
Nickel hydroxide is a green, crystalline, inorganic compound that is generally used in rechargeable battery electrodes by oxidation to nickel (III) oxide-hydroxide. Theophrastite, the mineral form of nickel hydroxide was discovered in Greece in 1980. Nickel hydroxide is an insoluble chemical compound having strong redox properties.
The major grades of nickel hydroxide are:
- Battery Grade
- Reagent Grade
- Others
The market can be broadly categorised based on its applications into:
- Battery
- Electroplates
- Catalyst
- Others
The EMR report looks into the regional markets of nickel hydroxide like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand for Electrochemical Batteries to Drive the Growth of the Nickel Hydroxide Industry
The global nickel hydroxide industry is being driven by the rising demand for batteries. Nickel hydroxide is used as electrodes in the electrochemical batteries. Superior performance, reliability, and extended battery life of nickel hydroxide batteries are anticipated to propel the market growth of the product. Nickel hydroxide is also employed as a catalyst in industrial water treatment processes. The rising environmental awareness is expected to fuel its application in chemical water treatment. Nickel hydroxide also finds its application in electrochemical processes like electrocatalysis, supercapacitors, electrochromic devices, photocatalysis, and electrochemical sensors. Furthermore, it is also used in the synthesis of nickel oxide, which is used in the ceramic, optic, and glass industry. These factors are expected to bolster the growth of nickel hydroxide during the forecast period of 2024-2032.
Key Industry Players in the Global Nickel Hydroxide Market
The report presents a detailed analysis of the following key players in the global nickel hydroxide market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Kansai Catalyst Co., Ltd.
- Norilsk Nickel Group
- Tinchem Enterprises
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Grade |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In the forecast period of 2024-2032, the global nickel hydroxide market is expected to grow at a CAGR of 5%.
The major drivers of the industry, such as rising disposable incomes, growing environmental awareness, rapid urbanisation, growing demand for batteries, and increasing need for industrial water treatment, are expected to aid the market growth.
The key trend of the market is the ban on carbon fuel vehicles and the shift to nickel hydroxide-based battery vehicles.
The major regional markets for nickel hydroxide are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major grades of the nickel hydroxide are battery grade, and reagent grade, among others.
The major application segments of nickel hydroxide are battery, electroplates, and catalysts, among others.
The key industry players in the market are Kansai Catalyst Co., Ltd., Norilsk Nickel Group, and Tinchem Enterprises, among others.
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