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Nickel Hydroxide Market 2019 Worldwide Overview, Driving Factors, Key Players and Growth Opportunities by 2021

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Market Analysis

The global nickel hydroxide market is predicted to have a surplus growth at a promising CAGR over the estimated years (2017-2023). Nickel hydroxide is an inorganic, green, crystalline compound which upon heating produces toxic gases. It is mostly used as catalysts in chemical reactions and also in nickel-cadmium batteries. Thus, it has widespread application in pocket batteries and mid-high rate batteries.

Nickel hydroxide is primarily utilized as an electrode in the electrochemical battery. Owing to its unique benefits over other varieties of batteries such as superior performance, better reliability and longer life its demand is on the rise. Some of the end-use industries of nickel hydroxide include chemical, electrochemical, agriculture and others. Besides, nickel hydroxide is also used for manufacturing Nickel Oxide that finds application in ceramics, optic and glass industry. Moreover, it is also utilized in many other electrochemical processes namely electrochemical sensors, electrochromic devices, supercapacitors, electrosynthesis, electrocatalysis and photocatalysis.

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There are plentiful factors that is driving the growth of the nickel hydroxide market. These factors as per the Market Research Future (MRFR) report include its increasing need as an electrode in the electrochemical battery, the manifold benefits such as superior performance, utmost reliability and long battery life, portable devices and consumer electronics increasing need for rechargeable batteries, need for battery-operated electronic devices, improving economic conditions, rise in consumers purchasing power, ever-increasing population all over the world, urbanization and industrialization. On the contrary, rising costs of raw materials, toxicity concerns and exposure to nickel hydroxide causing asthma-like allergies, skin allergies, acute dermatitis, other health concerns such affecting the gastrointestinal tract, neurological system, lungs and kidneys as well as the risk of nasal and lung cancers are factors that may hinder the growth of the nickel hydroxide market.

Competitive Landscape:

  • Norilsk Nickel and Sigma Aldrich, Inc,
  • 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.

Market Segmentation

MRFR report provides an extensive segmental analysis of the nickel hydroxide market on the basis of end-user and application.

Based on end-user, it is segmented into automotive industry, electronics industry and chemical industry.

Based on application, the nickel hydroxide market is segmented into batteries and catalyst.

Regional Analysis

By region, the nickel hydroxide market covers growth opportunities and latest trends across Asia Pacific, North America, Europe, Latin America and Middle East and Africa.

Of these, the APAC region will stay at the forefront in the market over the estimated years. This is due to its increasing need and use in manufacturing batteries and burgeoning demand for nickel hydroxide in various consumer products, portable devices and hybrid electric vehicles. There is a strong electronics industry base in Japan and South Korea that is again propelling the market growth in this region.

China and India are predicted to enhance the demand due to the use of nickel batteries in hybrid electric cars. Besides, China boasts of the largest car market as well as is planning to introduce strategies that will ban the sale and production of fuel cars for reducing pollution and switching over to electric cars.

The nickel hydroxide market in Europe is prognosticated to have exceptional demand over the estimated years owing to the use of nickel hydroxide in electric hybrid cars. France, Britain, Germany, Sweden and Netherlands have taken part in the plans under Paris climate accord to end sales of cars both petrol and diesel by 2040.

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