Nickel Hydroxide Market – Global Industry Analysis and Forecast (2022-2027)

Nickel Hydroxide Market is anticipated to reach US$ 2386.12 Mn. by 2027 from US$ 1683.07 Mn. in 2021 at a CAGR of 5.99%during a forecast period. Nickel hydroxide is a chemical compound that is used largely in the production of nickel-cadmium batteries and as a catalyst in certain chemical processes. By oxidation to nickel (III) oxide-hydroxide, it is mostly employed in rechargeable battery electrodes. Nickel hydroxide is a crystalline inorganic chemical compound that is insoluble and has high redox characteristics. It has so far been widely used in the production of mid-high rate batteries and pocket batteries. Agriculture, electrochemical, chemical, and food are just a few of the end-use sectors. East Asia's growing industrialization contributed to the development of solar infrastructure all over the world. Additionally, over the last half-decade, the usage of nickel hydroxide in electro catalysis has increased. Due to the closure of non-essential manufacturing industries, the market declined by 1.2 percent in 2021. During the forecast period of 2021-27, demand for nickel electroplating, as well as its use as a battery cathode material, is expected to increase. Nickel Hydroxide Market To know about the Research Methodology :- Request Free Sample Report In report, 2021 is considered a base year however 2021’s numbers are on the real output of the companies in the market. Special attention is given to 2021 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Nickel Hydroxide Market Dynamics

A key growth factor in the global nickel hydroxide market is the increasing demand for batteries throughout the world. Electrochemical batteries generally employ nickel hydroxide as electrodes. Various distinctive properties such as uttermost dependability, better performance, and extended battery life drive demand for nickel hydroxide-based batteries, assisting in the worldwide nickel hydroxide market's growth. The market is experiencing an incredible time of mergers, joint ventures, growth, and signed agreements as a result of technological advancements in the synthesis of nickel hydroxide and its end-use applications. The importance of generating a more durable and efficient grade of nickel hydroxide has been emphasized by all major players in the industry, and one of these grades is spherical-coated nickel hydroxide.

Opportunities:

The rising demand for nickel hydroxide in the global market offers a variety of market growth opportunities. During the forecasted period, the nickel hydroxide market is expected not only to be heavily employed in the electronics sector, but its ability to remove impurities from water also can give growth opportunities in the chemical sector. In addition, the usage of nickel hydroxide in the production of Nickel Oxide and its use in the ceramics sector offers a variety of growth prospects in the worldwide market.

Restraints:

The nickel hydroxide market is gaining traction in the worldwide market, but some factors are limiting its growth, such as rising toxicity concerns about the usage of nickel hydroxide, which is hampered the nickel hydroxide market's growth in the global market. Additionally, due to the existence of carcinogenic qualities, the increased use of nickel hydroxide in the chemical and electric industries has resulted in the development of nose and lung cancer, which has hampered the market's growth.

Nickel Hydroxide Market Segmentation Analysis

By End Use, the battery segment held xx% of the market share in 2021. Nickel hydroxide has been the most popular battery material for hybrid electric cars. This is related to the use of nickel hydroxide in electric hybrid car batteries. Thus, the demand for pure nickel hydroxide has increased, which is utilized in these batteries. Nickel-based batteries are resistant to electrical use because they may be kept in a discharged state for long periods without sustaining harm and perform well in hot environments. Standby, electric cars (EVs), hybrid electric vehicles (HEVs), and aviation starters all use nickel-based batteries. Nickel-based batteries are particularly well-suited to electrically or mechanically demanding applications, and they have many uses. The vehicle sector has increased its use of nickel hydroxide batteries as a result of this. PHEV registrations increased in 2021 as countries enacted rigorous rules and regulations to support the growth of electric cars and a complete move away from internal combustion engines, raising nickel hydroxide demand. This had a drastic impact, increasing demand for nickel hydroxide and an overall rise in nickel hydroxide usage in the battery sector. By End-use Industry, The automotive sector is positioned to remain one of the leading drivers for nickel hydroxide sales growth with a large number of vehicle manufacturers switching to hybrid electric vehicle versions of their existing IC engine cars. Furthermore, the overall number of electric car registrations increased in 2021, indicating that customers are eager to adopt electric vehicles and make the switch to a greener choice. In addition, as they attempt to lessen their reliance on non-renewable energy sources to satisfy their electrical demands, an increasing number of countries are investing in strengthening their solar infrastructure. This raises the need for nickel-cadmium batteries, which are recognized for producing continuous electric current and are favored for starting generators and providing uninterrupted power supply since they give consistent power throughout the cycle. Nickel Hydroxide Market

Nickel Hydroxide Market Regional Insight

The Asia Pacific and Latin America were the fastest growing regions in 2021. The nickel hydroxide market in Asia-Pacific is dominated by China due to high growth in electrochemical battery usage. The Asia-Pacific region's growth is due to rising demand for nickel hydroxide in the region, particularly for battery manufacture, which is used in hybrid electric vehicles, portable devices, consumer goods, and a variety of other items. Nickel hydroxide is in significant demand in South Korea and Japan, which have a strong electronic industry. China has been the world's largest automaker for the past half-decade. The Chinese government, on the other hand, has implemented several regulation adjustments to accelerate the adoption of electric cars by 2040. As a result, manufacturers are required to work hard to achieve the objective of BEVs and PHEVs accounting for 40% of total sales by 2040. Additionally, China is committed to constructing and boosting its solar and wind power generation capacity to 1,200 GW by 2030, up from its present capacity of 500 GW. This would need the usage of nickel-cadmium batteries, which are often employed in solar power plants for energy storage. Furthermore, being the world's largest manufacturer of solar photovoltaic power systems, China is expected to maintain its dominance in the market during the forecast period. The European region holds the second-largest market share in the worldwide nickel hydroxide market, owing to the growing usage of nickel hydroxide in electric hybrid cars. Growing demand for nickel hydroxide in countries such as Germany, France, the United Kingdom, Sweden, and the Netherlands is further propelling the nickel hydroxide market in Europe. The North American region holds the third-largest market share in the worldwide nickel hydroxide market, owing to the rising sale of electric and hybrid cars in recent years, which has increased demand for nickel hydroxide in the region. The United States is one of the few countries with well-established battery charging networks. To decarbonize the economy, the United States has been an early user of electric cars, which has resulted in an alarming growth in the number of electric vehicles on the road. In addition, President Biden just announced a plan to address around 45 percent of the electorate's needs. President Biden also recently announced a plan to fulfill roughly 45 percent of power demand from the sun by 2050, up from just 4 percent in 2021. To meet this goal, the country would have to double its installed solar energy generating capacity per year for the following four years, then double it again by 2027. These facilities store energy using solar cells, which employ nickel hydroxide as one of the cathode materials, which is expected to raise demand in the long term.

Report Objectives:

• Landscape analysis of the Nickel Hydroxide Market • competitive benchmarking • Past and current status of the industry with the forecasted market size and trends • Evaluation of potential key players that include market leaders, followers, and new entrants • Technology trends • Potential impact of micro-economic factors of the market • External and Internal factors affecting market have been analyzed

Nickel Hydroxide Market Scope: Inquire before buying

Global Nickel Hydroxide Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US $ 1683.07 Mn
Forecast Period 2022 to 2027 CAGR: 5.99% Market Size in 2027: US $ 2386.12 Mn
Segments Covered: by Type • Condenser • Evaporator • Water Coil
by Application • Automotive • HVAC • Commercial Refrigeration • Others

Nickel Hydroxide Market by Region

• North America • Asia pacific • Europe • Middle East and Africa • South America

Nickel Hydroxide Market: Key Players

• 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 Frequently Asked Questions: 1. Which region has the largest share in Global Nickel Hydroxide Market? Ans: Asia Pacific region held the highest share in 2021. 2. What is the growth rate of Global Nickel Hydroxide Market? Ans: The Global Nickel Hydroxide Market is expected to grow at a CAGR of 5.99% during forecast period 2022-2027. 3. What is scope of the Global Nickel Hydroxide market report? Ans: Global Nickel Hydroxide Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Nickel Hydroxide market? Ans: The important key players in the Global Nickel Hydroxide Market are – Sanhua, Hanon Systems, MAHLE, Modine, Denso Corporation, API Heat Transfer, Climetal, Danfoss, Kaltra, Kangsheng Group, Calsonic Kansei, Evapco, Goldstone Hvacr, Nortek Global HVAC, Sanden, Tata Toyo Radiator, Thermokey, Zhejiang Dun 'An Artificial Environment., Sanhua Holding Group Co., Ltd, Vacuum Process Engineering, and Sumitomo Precision Products Co Ltd 5. What is the study period of this market? Ans: The Global Nickel Hydroxide Market is studied from 2021 to 2027.
1. Global Nickel Hydroxide Market: Research Methodology 2. Global Nickel Hydroxide Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Nickel Hydroxide Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Nickel Hydroxide Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Nickel Hydroxide Market Segmentation 4.1 Global Nickel Hydroxide Market, by Purity (2021-2027) • 2N Nickel Hydroxide • 2N5 Nickel Hydroxide • 3N Nickel Hydroxide • 3N5 Nickel Hydroxide • 4N Nickel Hydroxide • 5N Nickel Hydroxide 4.2 Global Nickel Hydroxide Market, by Appearance (2021-2027) • Powder Nickel Hydroxide • Nano-Particle Nickel Hydroxide • Spherical Nickel Hydroxide 4.3 Global Nickel Hydroxide Market, by End Use (2021-2027) • Battery • Electroplating • Catalysts 4.4 Global Nickel Hydroxide Market, By End-use Industry (2021-2027) • Chemicals • Electricals • Automobiles 5. North America Nickel Hydroxide Market(2021-2027) 5.1 Global Nickel Hydroxide Market, by Purity (2021-2027) • 2N Nickel Hydroxide • 2N5 Nickel Hydroxide • 3N Nickel Hydroxide • 3N5 Nickel Hydroxide • 4N Nickel Hydroxide • 5N Nickel Hydroxide 5.2 Global Nickel Hydroxide Market, by Appearance (2021-2027) • Powder Nickel Hydroxide • Nano-Particle Nickel Hydroxide • Spherical Nickel Hydroxide 5.3 Global Nickel Hydroxide Market, by End Use (2021-2027) • Battery • Electroplating • Catalysts 5.4 Global Nickel Hydroxide Market, By End-use Industry (2021-2027) • Chemicals • Electricals • Automobiles 5.5 North America Nickel Hydroxide Market, by Country (2021-2027) • United States • Canada • Mexico 6. Asia Pacific Nickel Hydroxide Market (2021-2027) 6.1. Asia Pacific Nickel Hydroxide Market, by Purity (2021-2027) 6.2. Asia Pacific Nickel Hydroxide Market, by Appearance (2021-2027) 6.3. Asia Pacific Nickel Hydroxide Market, by End Use (2021-2027) 6.4. Asia Pacific Nickel Hydroxide Market, By End-use Industry (2021-2027) 6.5. Asia Pacific Nickel Hydroxide Market, by Country (2021-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Nickel Hydroxide Market (2021-2027) 7.1 Middle East and Africa Nickel Hydroxide Market, by Purity (2021-2027) 7.2. Middle East and Africa Nickel Hydroxide Market, by Appearance (2021-2027) 7.3. Middle East and Africa Nickel Hydroxide Market, by End Use (2021-2027) 7.4. Middle East and Africa Nickel Hydroxide Market, By End-use Industry (2021-2027) 7.5. Middle East and Africa Nickel Hydroxide Market, by Country (2021-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Nickel Hydroxide Market (2021-2027) 8.1. Latin America Nickel Hydroxide Market, by Purity (2021-2027) 8.2. Latin America Nickel Hydroxide Market, by Appearance (2021-2027) 8.3. Latin America Nickel Hydroxide Market, by End Use (2021-2027) 8.4. Latin America Nickel Hydroxide Market, By End-use Industry (2021-2027) 8.5. Latin America Nickel Hydroxide Market, by Country (2021-2027) • Brazil • Argentina • Rest Of Latin America 9. European Nickel Hydroxide Market (2021-2027) 9.1. European Nickel Hydroxide Market, by Purity (2021-2027) 9.2. European Nickel Hydroxide Market, by Appearance (2021-2027) 9.3. European Nickel Hydroxide Market, by End Use (2021-2027) 9.4. European Nickel Hydroxide Market, By End-use Industry (2021-2027) 9.5. European Nickel Hydroxide Market, by Country (2021-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Bochemie 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. American Elements 10.3. Bochemie 10.4. GFS Chemicals 10.5. Jiangmen Chancsun Umicore Industry, Co. Ltd. 10.6. Jilin Jien Nickel Industry 10.7. Kansai Catalyst Co, Ltd. 10.8. Kelong New Energy Co, Ltd 10.9. Norn Nickel 10.10. Sumitomo Metal Mining 10.11. Supraveni Chemicals 10.12. Tanaka Chemicals 10.13. Tinchem Enterprise 10.14. Umicore 10.15. Yantai Cash

About This Report

Report ID 125717
Category Material & Chemical
Published Date Oct 2021
Updated Date Mar 2022
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