Nickel hydroxide is a chemical compound that is used in the production of nickel-cadmium batteries, as well as in the manufacture of other nickel-based products such as catalysts, pigments, and ceramics. The global nickel hydroxide market is expected to experience steady growth in the coming years, driven by the increasing demand for nickel-cadmium batteries in various applications such as consumer electronics, automotive, and aerospace. According to market research reports, the global nickel hydroxide market is expected to grow at a CAGR of around 5% between 2023 and 2026. The market is highly competitive, with a large number of players operating in the market, including major companies such as Norilsk Nickel, Vale, and BHP Billiton.
The market is segmented based on type, application, and geography. The alpha phase segment is expected to account for the largest market share in the coming years due to its high stability and superior performance in nickel-cadmium batteries. In terms of application, the nickel-cadmium battery segment is expected to dominate the market due to the increasing demand for nickel-cadmium batteries in various industries. However, the catalyst segment is expected to grow at a higher CAGR during the forecast period due to the increasing use of nickel hydroxide in the production of catalysts for various chemical reactions.
In terms of geography, Asia Pacific is expected to dominate the market due to the high demand for nickel-cadmium batteries in countries such as China, Japan, and South Korea. However, North America and Europe are expected to grow at a moderate pace due to the increasing adoption of electric vehicles in these regions.
Overall, the nickel hydroxide market is expected to continue to grow in the coming years due to the increasing demand for nickel-cadmium batteries in various industries and the development of new applications for nickel hydroxide in the manufacturing of other nickel-based products. However, the market is also expected to face challenges such as the environmental concerns associated with the production and disposal of nickel-cadmium batteries
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Key Segments of Nickel Hydroxide Industry Survey
- By Purity
- 2N Nickel Hydroxide
- 2N5 Nickel Hydroxide
- 3N Nickel Hydroxide
- 3N5 Nickel Hydroxide
- 4N Nickel Hydroxide
- 5N Nickel Hydroxide
- By Appearance
- Powder Nickel Hydroxide
- Nano-Particle Nickel Hydroxide
- Spherical Nickel Hydroxide
- By End Use
- Battery
- Ni-MH
- Ni-Cd
- Electroplating
- Catalysts
- Photo-catalysis
- Electro-catalysis
- Battery
- By End-use Industry
- Chemicals
- Electricals
- Automobiles
Key Takeaways from Market Study
- Nickel hydroxide market anticipated to add 1.7X value by 2031.
- East Asia to be most opportunistic pocket holding more than 35% market share throughout forecast period.
- Automotive industry to experience optimistic glaze by rising at CAGR of 6.7% over assessment period.
- Among applications, batteries has been the fastest-growing segment globally.
Capacity Expansion: Champion’s Approach
Vital players operating in the market are undertaking capacity expansion to become future-ready and meet the growing demand for battery materials from electric vehicle manufacturers. Additionally, companies have been investing in research & development of superior purity grades of Ni(OH)2, to, in turn, match client requirements.
- Umicore, a major nickel hydroxide producer, received a loan from the European Investment Bank for US$ 146 Mn to develop its battery material production facilities in Poland. It also spent US$ 372 Mn on a cathode material production plant in Nysa in 2021.
Key Companies Profiled
- American Elements
- Bochemie
- GFS Chemicals
- Jiangmen Chancsun Umicore Industry, Co. Ltd.
- Jilin Jien Nickel Industry
- Kansai Catalyst Co, Ltd.
- Kelong New Energy Co, Ltd
- Norn Nickel
- Sumitomo Metal Mining
- Supraveni Chemicals
- Tanaka Chemicals
- Tinchem Enterprise
- Umicore
- Yantai Cash
Report Benefits & Key Questions Answered
- Powder Nickel Hydroxide Company & brand share analysis: The report offers brand-share analysis on Powder Nickel Hydroxide to offer a more in-depth competition deep-dive. This is intended at assisting companies at proactive long-term planning.
- Powder Nickel Hydroxide Historical volume analysis: Factors affecting sales in the past are analyzed in detail. The report also offers comparative analysis between growth trajectory exhibited in 2016-2020 and 2021-2031.
- Powder Nickel Hydroxide Category & segment level analysis: To offer a comprehensive analysis, the market identifies leading segments and highlights chief factors enabling growth across these categories.
- Powder Nickel Hydroxide Consumption by demographics: The demographic analysis is intended at providing recommendations to companies to help them create growth strategies around dynamic consumption patterns.
- Powder Nickel Hydroxide Manufacturing trend analysis: Manufacturing trend analysis is the key highlight of the study. It offers vital data on strategies adopted by market players to align their manufacturing strategies as per prevailing market trends.
- Post COVID consumer spending on Powder Nickel Hydroxide : The survey offers a chapter dedicated to analyzing post COVID consumer behavior. Changes in their spending pattern are carefully analyzed to offer insights into potential impact on Powder Nickel Hydroxide