Global Nickel Hydroxide Market is predicted to reach USD 3.21 billion at a CAGR of 6% during the forecast period

Pune, India, August, 2023/MRFR Press Release/- Market Research Future (MRFR) Announces the Publication of its Research Report – Nickel Hydroxide Market

Market Research Future (MRFR) has published a cooked research report on the “Nickel Hydroxide Market” that contains information from 2023 to 2032. The Global Nickel Hydroxide Market is estimated to register a CAGR of 6% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the Global Nickel Hydroxide Market— Sigma-Aldrich Inc., Norilsk Nickel, Alt Cobalt and Nickel Products Co.Ltd., Nippy Chemicals, Jilin Jien Nickel Industry Co. Ltd., American elements, Tinchem Enterprise, Kelong, Umicore, and Triveni Chemicals.

Nickel Hydroxide Market Highlights

The Global Nickel Hydroxide Market is accounted to register a CAGR of 6% during the forecast period and is estimated to reach USD 3.21 Billion by 2032.

Global Nickel Hydroxide Market" refers to the worldwide market for nickel hydroxide, a chemical compound with the formula Ni(OH)2. Nickel hydroxide is an important industrial material used primarily in the production of rechargeable nickel-metal hydride (NiMH) batteries.

The demand for nickel hydroxide is closely tied to the growth of the battery industry, especially as the world sees increasing adoption of electric vehicles and renewable energy technologies. Factors such as advancements in battery technology, government policies supporting clean energy, and consumer trends towards sustainable solutions can influence the growth and dynamics of the global nickel hydroxide market.

Segment Analysis

The Global Nickel Hydroxide Market has been segmented based on application and end use.

On the basis of application, the market is segmented into Batteries and Catalyst.  The batteries segment dominated the market due to the production of nickel-cadmium (Ni-Cd) and nickel-metal hydride (Ni-MH) batteries. These batteries find extensive applications in portable electronics, electric vehicles, and renewable energy storage systems.

Based on end use, the market has been segmented into automotive, electronics and chemical. The automotive category generated the most income due to adopting electric vehicles (EVs). Nickel hydroxide is used to produce Ni-MH batteries for hybrid vehicles and EVs. As the demand for EVs continues to rise globally, the consumption of nickel hydroxide in this sector is expected to increase significantly.

Regional Analysis

The Global Nickel Hydroxide Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Nickel Hydroxide Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Nickel Hydroxide Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Nickel Hydroxide Market comprises of Middle East, Africa, and Latin America.

The North American region is another important market for nickel hydroxide. The adoption of EVs and renewable energy technologies in North America has also contributed to the demand for nickel hydroxide.

Europe is also a significant player in the global nickel hydroxide market. Countries like Germany, France, and the Nordic countries have a growing market for electric vehicles, which boosts the demand for nickel hydroxide for battery production.

The Asia-Pacific region has been a dominant player in the nickel hydroxide market. The growth of the electric vehicle (EV) industry in countries like China, Japan, South Korea, and India also drives the demand for nickel hydroxide due to its use in NiMH batteries.

Furthermore, the rest of the world's Global Nickel Hydroxide Market is divided into the Middle East, Africa, and Latin America. Other regions, such as South America and the Middle East, also contribute to the global nickel hydroxide market, albeit to a lesser extent compared to the major regions mentioned above.

Key Findings of the Study

• The Global Nickel Hydroxide Market is expected to reach USD 3.21 Billion by 2032, at a CAGR of 6% during the forecast period.


• The Asia-Pacific region has been a dominant player in the nickel hydroxide market. The growth of the electric vehicle (EV) industry in countries like China, Japan, South Korea, and India also drives the demand for nickel hydroxide due to its use in NiMH batteries.


• Based on application, the market is segmented into Batteries and Catalyst holding the largest market in 2022.


• Sigma-Aldrich Inc., Norilsk Nickel, Alt Cobalt and Nickel Products Co.Ltd., Nippy Chemicals, Jilin Jien Nickel Industry Co. Ltd., American elements, Tinchem Enterprise, Kelong, Umicore, and Triveni Chemicals.

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