Nickel Hydroxide Market-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.
Along with this, the electronic sector in China and India is also expanding at a rapid pace to supplement their developing economy. Top manufacturers are shifting production plants here owing to simple investment norms, open market strategy, expediate the technique along with other forms of incentivizing techniques used by such countries. Also, the inhabitants’ disposable income here, growing urbanization and increasing purchasing power are driving the market growth in this region. 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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Nickel Hydroxide Market- Insight
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.
The proposed new Chinese tariffs on American imports are likely to result in a price increase in the nickel hydroxide market in the region over the forecast period. American manufacturers could face increasing difficulty in cooperating with Chinese clients in the coming years as a result, with the Chinese government taking steps to take a firm stance on their much-discussed tariffs policy. This could be a key element in the global nickel hydroxide market’s competitive dynamics in the coming years, with China holding many lucrative clients for American industries.
Key Players
Leading players profiled in the nickel hydroxide market include-
- Tinchem Enterprise
- Kelong, Umicore
- Triveni Chemicals
- SUMITOMO METAL MINING CO. LTD
- Tanaka Chemical Corporation
- Norilsk Nickel and Sigma Aldrich, Inc
- Alt Cobalt and Nickel Products (dalian) Co. Ltd
- Nippy Chemicals
- Jilin Jien Nickel Industry Co., Ltd.
- American elements
- ZincFive Inc.
- Jiangmen Chancsun Umicore Industry Co., Ltd
- Changsha Xinye Industrial Co. Ltd.
March 2019- Stanford researchers have discovered a means of making hydrogen fuel from saltwater. The team has layered nickel sulfide and nickel-iron hydroxide above a nickel foam core, to create a barrier which will slow the underlying metal’s decay. The nickel foam serving as a conductor will transport energy from the power source while nickel-iron hydroxide will spark the electrolysis. The water-splitting device in the absence of nickel coating will last about 12 hours not being capable of withstanding seawater corrosion. The device in the presence of the nickel layer will keep going above a thousand hours.
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Market Segmentation:
The global nickel hydroxide market is segmented on the basis of application and end-use industry.
On the basis of the Application, the global nickel hydroxide market is segmented into batteries, catalyst and others (ceramics, glass, optics, few more electrochemical applications). Batteries is likely to be the major revenue generating segment in the global nickel hydroxide market over the forecast period.
On the basis of the End-User Industry, the global nickel hydroxide market is segmented into automotive industry, electronics industry, chemical industry and others. The automotive and electronics industries are likely to hold dominant shares in the global nickel hydroxide market over the forecast period.
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