Market Research Future Published a Research Study on Nickel Hydroxide Market Research Report, Size, Share and Industry Analysis - Forecast to 2023
Market Analysis
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.
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Competitive Analysis
The
nickel hydroxide market appears to be highly competitive and
fragmented, characterized by the existence of different small and
large-scale players. The key players are incorporating strategic
initiatives such as technology launch, partnership, expansion,
collaboration and acquisition. Such strategies are likely to augment the
product quality and boost up production capacity to cater to the
increasingly growing demand, especially from the emerging regions.
Key Players
Leading
players profiled in the global nickel hydroxide market include Changsha
Xinye Industrial Co. Ltd, Jiangmen chancsun Umicore Industry Co., Ltd,
ZincFive Inc., Tanaka Chemical Corporation, SUMITOMO METAL MINING CO.
LTD, Triveni Chemicals, Umicore, Kelong, Tinchem Enterprise, American
elements, Jilin Jien Nickel Industry Co., Ltd., Nippy Chemicals, Alt
Cobalt and Nickel Products (dalian) Co. Ltd, Norilsk Nickel and Sigma
Aldrich, Inc.
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.
Regional Analysis
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. The
leading electronic manufactures are shifting their production plants in
this region due to open market strategy, simple investment norms,
expediate the method and other incentivizing strategies adopted by such
countries. Moreover, disposable income of the inhabitants of this
region, increasing purchasing power and growing urbanization are fueling
the growth of nickel hydroxide market in this region.
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.
Browse Key Industry insights spread across 138 pages with 33 market data tables & 10 figures & charts from the Report, “Nickel
Hydroxide Market Information: by Application (batteries, catalyst),
End-Use industry (automotive industry, electronic industry, chemical
industry), and Region - Global Forecast to 2023” in detail along with the table of contents@ https://www.marketresearchfuture.com/reports/global-nickel-hydroxide-market-859
Market Segmentation
In
Market Research Future (MRFR) report, the global nickel hydroxide
market has been segmented on the basis of application and end-user.
Based on application, it is segmented into catalyst and batteries.
Based
on end-user, the nickel hydroxide market is segmented into chemical
industry, electronics industry and automotive industry.
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