Global Nickel Sulfate Market Growth 2024-2030
Product Code:1236495
Published Date: Nov 02,2024
Pages: 108
Region: Global
Category: Chemical & Material
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Nickel Sulfate, usually refers to the inorganic compound with the formula NiSO4 (H2O)6. This highly soluble blue-coloured salt is a common source of the Ni2+ ion for electroplating. At least seven Sulfate salts of nickel (II) are known. These salts differ in terms of their hydration or crystal habit. The common tetragonal hexahydrate crystallizes from aqueous solution between 30.7 and 53.8 °C. Below these temperatures, a heptahydrate crystallises, and above these temperatures an orthorhombic hexahydrate forms. The yellow anhydrous form, NiSO4, is a high melting solid that is rarely encountered in the laboratory. This material is produced by heating the hydrates above 330 °C. It decomposes at still higher temperatures to nickel oxide. X-ray crystallography measurements show that NiSO4•6H2O consists of the octahedral [Ni (H2O)6]2+ ions. These ions in turn are hydrogen bonded to Sulfate ions. Dissolution of the salt in water gives solutions containing the aquo complex [Ni (H2O)6]2+. All Nickel Sulfates are paramagnetic.
The global Nickel Sulfate market size is projected to grow from US$ 10220 million in 2024 to US$ 19410 million in 2030; it is expected to grow at a CAGR of 11.3% from 2024 to 2030.
LP Information, Inc. (LPI) ' newest research report, the “Nickel Sulfate Industry Forecast” looks at past sales and reviews total world Nickel Sulfate sales in 2023, providing a comprehensive analysis by region and market sector of projected Nickel Sulfate sales for 2024 through 2030. With Nickel Sulfate sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Nickel Sulfate industry.
This Insight Report provides a comprehensive analysis of the global Nickel Sulfate landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Nickel Sulfate portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Nickel Sulfate market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Nickel Sulfate and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Nickel Sulfate.
Global nickel sulfate main players are Jinchuan, GEM, Sumitomo Metal Mining(SMM), etc. Top 5 companies hold a share about 50%. Japan is the largest market, with a share about 65%.In terms of product, high-purity grade is the largest segment, with a share over 75%. And in terms of application, the largest application is battery, followed by electroplating .
Capacity and output
Stable capacity: According to the current market situation, the capacity of nickel sulfate has not been added on a large scale in recent years. However, as technology advances and processes are optimized, the utilization rate of existing capacity may be improved.
Production growth: Despite no new capacity additions, nickel sulfate production is expected to continue to grow. This is mainly due to the strong demand in the downstream power battery market, as well as the continuous maturity of nickel sulfate production technology and the optimization of cost control.
Market demand
Increased demand for power batteries: nickel sulfate is one of the key raw materials for the preparation of cathode materials for lithium batteries, especially in the manufacturing process of ternary lithium batteries, nickel sulfate and cobalt salt, manganese salt and other raw materials together, through a series of chemical reactions to generate the precursor of cathode materials. With the continuous expansion of the electric vehicle market and the increasing demand for energy storage, the demand for nickel sulfate in power batteries will continue to grow.
Stable demand in other areas: In addition to the field of power batteries, nickel sulfate is also widely used in electroplating, printing and dyeing mordant, metal colorant and other fields. The demand for nickel sulfate in these areas is relatively stable, which provides a strong support for the development of the nickel sulfate market.
Market competition and pattern
Increasing industry concentration: The production concentration of nickel sulfate industry is gradually increasing. Some large enterprises continue to improve their market share and competitiveness through technology upgrading and capacity expansion.
International competition Intensifies: With the rapid development of the global electric vehicle market, the international competition for nickel sulfate is also becoming increasingly fierce. Some well-known international enterprises have entered the nickel sulfate market, through mergers and acquisitions, joint ventures and other ways to expand their own production capacity and market share.
Environmental protection and sustainable development
Environmental protection requirements: With the improvement of global environmental awareness and the increasingly strict environmental regulations, the environmental protection issues in the production process of nickel sulfate have received more and more attention. In the future, nickel sulfate enterprises need to increase investment in environmental protection, optimize the production process, and reduce the emission of pollutants to achieve sustainable development.
Recycling: In order to maximize the utilization of resources and reduce environmental pollution, the recycling of nickel sulfate will become the future development trend. By recycling nickel-containing waste such as waste batteries, reprocessing and treatment, high quality nickel sulfate products can be produced, so as to realize the recycling of resources and environmental protection.
This report presents a comprehensive overview, market shares, and growth opportunities of Nickel Sulfate market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
EN Grade
Plating Grade
High-purity Grade
Segmentation by Application:
Electroplating
Chemical Industry
Battery
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Jinchuan
GEM
Sumitomo Metal Mining(SMM)
Guangxi Yinyi
Norilsk Nickel
Jilin Jien
KEMCO
Umicore
Coremax
Jinco Nonferrous
Zenith
Mechema
SEIDO CHEMICAL
CNGR Advanced Material
Zhejiang Huayou Cobalt
Key Questions Addressed in this Report
What is the 10-year outlook for the global Nickel Sulfate market?
What factors are driving Nickel Sulfate market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Nickel Sulfate market opportunities vary by end market size?
How does Nickel Sulfate break out by Type, by Application?