The global nickel hydroxide market is predicted to take a swift uptake during the assessment period (2017-2023). It is an inorganic compound which is also known as Nickel (II) hydroxide or Ni (OH)2. Nickel hydroxide is a crystalline solid that is odorless and apple green in color generally available in the form of a powder. It readily dissolves in ammonium hydroxide and acids but insoluble in water. This compound contains carcinogenic properties, thus is associated with growing risk of developing nasal and lung cancer. Exposure to nickel hydroxide can lead to severe skin problems, asthma-like allergies and dermatitis, and affects the neurological system, gastrointestinal tract, kidneys and lungs. During decomposition this compound emits toxic fumes of metallic nickel.
Consumer electronics and portable devices increasing demand for rechargeable batteries is driving the growth of the global nickel hydroxide market. Along with nickel-cadmium batteries this compound is used as a catalyst too in various chemical reactions. This is another driving force that is pushing the growth of the global nickel hydroxide market. The superior performance, utmost reliability and long-battery life is expected to fuel the growth of the market. The additional factors that are substantiating the growth of the global nickel hydroxide market include increase in the demand for electronic devices that are battery-operated, increase in consumers’ purchasing power, improving economic conditions, industrialization and urbanization and ever-increasing population across the world.
Key Players and Competition Analysis:-
Some of the prominent players operating in the global nickel hydroxide market
- 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.
Oct 2018 – CEO of SpaceX, Neurolink and Tesla, Elon Musk with an aim to expand his business has demanded batteries having longer life which worked wonders for Tanaka Chemical, the leader in the nickel hydroxide market. A partnership between them is on the cards.
October 2018 – Leading player in exploration of mineral properties and mining, Pure Minerals Limited announced the acquisition of Queensland Pacific Metals Pty Ltd, a fellow battery metal player which is poised to establish 600,000 tonnes per annum battery metals processing plants.
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The global nickel hydroxide market is segmented based on application and end-use industry.
Based on the applications, the global nickel hydroxide market is segmented into batteries, catalyst and others (ceramics, glass, optics, few more electrochemical applications)
Based on the end-user industry, the global nickel hydroxide market is segmented into automotive industry, electronics industry, chemical industry and others.
Based on the region, the global nickel hydroxide market is segmented into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa.
Based on region, the global nickel hydroxide market covers growth opportunities and latest trends across five regions- Asia Pacific, North America, Europe, Latin America and the Middle East & Africa. Of these, Asia Pacific leads the nickel hydroxide market owing to the increasing demand and use of nickel hydroxide in manufacturing batteries. The growing demand for such batteries in several consumer products, hybrid electric vehicles and portable devices have propelled this region to experience a healthy growth during the assessment period.
South Korea and Japan having strong electronics industry base is driving the demand for nickel hydroxide market. India and China are anticipated to boost the demand for nickel batteries owing to its use in the hybrid electric vehicles. Moreover, China has the biggest car market and is coming up with strategies to ban the production and sale of emission fuel cars to reduce pollution and switch over to an electric car. Not only this, the electronics industry in India and China is also growing at a quick pace for supplementing their developing economy.
Europe is predicted to show exceptional demand for nickel hydroxide due to its use in the electric hybrid vehicles. The European countries such as Netherland, Sweden, Germany, Britain and France have joined the ambitious plan under the Paris climate accord with an aim to end sales of diesel and petrol cars by 2040.
The application of nickel hydroxide in consumer electronics along with other portable devices is also likely to increase the demand of nickel hydroxide market. Norway government’s transportation plan highlights a clear target that every new passenger car and van that will be sold in 2025 must be zero-emission cars.
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