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Global Nickel Hydroxide Market Report 2018-2029
Global Nickel Hydroxide Market Report 2018-2029

Pages: 149       Published Date: Jul 04 2023       Category: Other       Report ID: HJR506592
Nickel hydroxide is a chemical compound with the formula Ni(OH)2. It is a green, crystalline solid that is commonly used in various industries due to its unique properties. The global nickel hydroxide market is projected to reach a value of US$3451 million by 2022, growing at a compound annual growth rate (CAGR) of 6.29%, according to a report by HJResearch.

One of the key applications of nickel hydroxide is in the batteries industry. The compound serves as a vital component in nickel-cadmium (Ni-Cd) batteries, which are widely used in portable electronics, power tools, and various other devices. With the increasing demand for rechargeable batteries, especially in electric vehicles and renewable energy systems, the batteries industry is expected to drive significant growth in the nickel hydroxide market.

Another significant industry that utilizes nickel hydroxide is the electronics industry. It is utilized in the manufacturing of electronic components, such as capacitors and resistors. These components are essential in electronic devices, including smartphones, laptops, and televisions. With the rapid advancements in technology and the growing consumer electronics market, the demand for nickel hydroxide in the electronics industry is anticipated to surge.

The chemical industry is also a major consumer of nickel hydroxide. Its excellent catalytic properties make it an essential ingredient in various chemical reactions and processes. Nickel hydroxide is used as a catalyst in the production of hydrogen gas and as a precursor for nickel-based catalysts in the petrochemical industry. As the chemical industry continues to expand globally, the demand for nickel hydroxide is expected to rise.

Apart from these industries, nickel hydroxide finds applications in other sectors as well. It is used in the production of pigments and ceramics, where it acts as a coloring agent. Additionally, it is utilized in the production of high-purity nickel salts, which are used in electroplating and plating applications.

The global nickel hydroxide market is currently dominated by several major manufacturers. Norilsk, SMM Group, Tanaka-Chemical, Kansai Catalyst, Chancsun Umicore, Henan Kelong, Anhui Yaland, Jilin Jien, Kingray New Materials, Jinchuan Group, and Jiangmen Fangyuan are among the key players in the industry. These companies focus on research and development activities to enhance their product offerings and cater to the evolving needs of various end-use industries.

Looking ahead, the prospects for the nickel hydroxide industry appear promising. The growing demand for batteries in automotive and energy storage applications, coupled with advancements in electronics and chemical industries, will likely drive the market's growth. Additionally, the increasing focus on sustainable manufacturing processes and the shift towards renewable energy sources provide further opportunities for the utilization of nickel hydroxide. As a result, the industry is expected to witness substantial expansion in the coming years.

The SWOT analysis of the Nickel Hydroxide industry is as follows:

Strengths:
- Nickel hydroxide is a key component in the production of nickel-metal hydride (NiMH) batteries, which are used in various applications such as electric vehicles, portable electronic devices, and renewable energy storage systems. The growing demand for these products is driving the growth of the nickel hydroxide industry.
- Nickel hydroxide has excellent properties such as high energy density, low self-discharge rate, and longer lifespan, making it a preferred choice for battery manufacturers.
- Some countries, such as China and Indonesia, have abundant reserves of nickel ore, which allows for cost-effective production of nickel hydroxide.
- The industry has a well-established supply chain from ore extraction to battery production, ensuring efficient production and distribution of nickel hydroxide.

Weaknesses:
- The production of nickel hydroxide involves complex and energy-intensive processes, such as ore extraction, refining, and precipitation. These processes can have a negative impact on the environment and require significant investment in infrastructure and technologies.
- The industry is highly dependent on the demand for NiMH batteries. Any decline or shift in the market preference towards other battery technologies, such as lithium-ion, could negatively impact the industry's growth.
- The geopolitical situation and trade policies can also influence the industry, as countries with major nickel hydroxide production may impose export restrictions or tariffs, affecting the global supply and pricing.

Opportunities:
- The global push for clean energy and electric vehicles presents a significant opportunity for the nickel hydroxide industry. The growing demand for batteries in these sectors is likely to drive the demand for nickel hydroxide.
- Technological advancements and research in battery chemistry, such as the development of nickel-rich cathode materials, can further enhance the performance and efficiency of NiMH batteries, boosting the demand for nickel hydroxide.
- Increasing investments in renewable energy projects and energy storage systems create opportunities for the nickel hydroxide industry to cater to the growing demand for backup power systems and grid stabilization.

Threats:
- The rising competition from lithium-ion batteries, which offer higher energy densities and longer lifespans than NiMH batteries, poses a threat to the nickel hydroxide industry. This can lead to a shift in demand towards lithium-ion batteries, affecting the market share of NiMH batteries.
- Fluctuating nickel prices and availability of nickel ore can impact the production cost and supply of nickel hydroxide, putting pressure on the industry's profitability.
- Environmental concerns and regulations related to nickel mining and processing can restrict the growth of the industry, as companies may face stricter environmental standards and increased costs for compliance.

Key players in global Nickel Hydroxide market include:
Norilsk
SMM Group
Tanaka-Chemical
Kansai Catalyst
Chancsun Umicore
Henan Kelong
Anhui Yaland
Jilin Jien
Kingray New Materials
Jinchuan Group
Jiangmen Fangyuan

Market segmentation, by product types:
Pure Nickel Hydroxide
Contain Cobalt Nickel Hydroxide
Contain Zinc Nickel Hydroxide
Contain Cadmium Nickel Hydroxide
Other

Market segmentation, by applications:
Batteries industry
Electronics industry
Chemical industry
Others

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