Nickel Sulfate Market Size, Industry Share & Analysis, By Grade (Electroplating Grade, Battery Grade, and Others) By Application (Electroplating, Chemical Synthesis, Battery, Others), and Regional Forecast, 2024-2032

The nickel sulfate market to register considerable valuation by 2032 and different applications of the product in the chemical industry to proliferate the market growth. The nickel sulfate market growth is primarily driven by the electroplating industry. It is used in the electroplating industry to provide a durable and corrosion-resistant coating to various metal surfaces. It is also used for nickel plating, essential in the automobile, aerospace, and electronics industries. In addition, nickel sulfate is a crucial component in producing nickel-metal hydride (NiMH) and nickel-cadmium (NiCd) batteries. These batteries are used in various applications, including portable electronics, power tools, and hybrid electric vehicles.

Due to its various applications, the chemical industry also drives the market. In the chemical industry, nickel sulfate is employed as a catalyst in various chemical reactions. It facilitates reactions such as hydrogenation and polymerization, vital in producing plastics, pharmaceuticals, and petrochemicals. Furthermore, it is utilized in the glass industry to produce green and brown-colored glass. It acts as a colorant, giving the glass its distinctive tint.

• The Chinese government is focusing more on reducing emissions from metal processing plants such as nickel sulfate by introducing strict regulations such as the ‘Toxic and Hazardous Substance Control Act’.

Nickel sulfate is used as a micronutrient in fertilizers to address soil nickel deficiencies. It plays a vital role in plant growth and helps enhance crop yield and quality. In addition, it is used to manufacture electronic components, including transistors, semiconductors, and connectors. It is employed in electroless nickel plating, a process used to deposit nickel on the surfaces of these components to enhance electrical conductivity and corrosion resistance.

The major producers by country are China, Japan, and India in Asia Pacific; the U.S. and Canada in North America; Germany and France in Europe; and Saudi Arabia and UAE in the Middle East.

Key Insights

The nickel sulfate report will cover the following key insights:

• Key Emerging Trends – For Major Regions


• Key Developments: Mergers, Acquisitions, Partnerships, and Others


• Latest Technological Advancement


• Regulatory Landscape


• Porters Five Forces Analysis


• Impact of COVID-19 on the Market

Nickel Sulfate Market Segmentation Analysis

Analysis By Grade

Based on grade, the market has been segmented into electroplating grade, battery grade and others. The electroplating grade segment is expected to register notable growth in coming years. Electroplating grade is a widely used technique in which a thin layer of metal is deposited onto the surface of an object through an electrochemical process. It provides excellent wear resistance, corrosion protection and electrical conductivity. Due to these properties it is used in various applications such as electroplating bath, decorative plating and surface finishing boosting the nickel sulfate market growth.

Analysis By Application

By application, the market has been segmented into electroplating, chemical synthesis, battery and others. The battery segment is expected to generate an excellent capital investment during the forecast period. Nickel sulfate based batteries such as nickel cadmium and nickel metal hydride are widely used in portable electronic devices including cordless phones, digital cameras, remote controls and small electronic devices propelling the nickel sulfate market share.

Regional Analysis

Asia Pacific to Observe Fastest Growth Rate Owing to Substantial Investment in the Automotive and Chemical Industries

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By region the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Among these, Asia Pacific is expected to gain the fastest growth rate and higher share during the forecast period. The region is witnessing significant investment in the automotive and chemical industry. It is widely used in the chemical industry for electroplating and for production of nickel compounds which are widely used in alloys and stainless steel propelling the regional market growth.

North America and Europe are projected to gain positive growth during the forecast period. Increasing demand for lithium-ion batteries for electric vehicles should boost the nickel sulfate market size in these regions. The market in the Middle East & Africa region is expected to experience slow growth during the forecast period.

Key Players Covered

• CoreMax Corporation (Taiwan)


• Umicore Cobalt & Specialty Materials (Belgium)


• Univertical (U.S.)


• Shanghai Liangren Chemical Co. LTD. (China)


• Vizag Chemical International (India)


• Norilsk Nickel (Russia)


• Mechema International Group (Taiwan)


• Jinchuan Group Co. Ltd. (Hong Kong)


• Dhruv Chemicals (India)


• Uma Chemicals (India)

Segmentations

Nickel Sulfate Industry Developments

• In February 2023, Umicore signed an agreement with Terrafame Ltd. to supply high-grade nickel sulfate to produce battery materials in Europe.


• In August 2022, Nornickel announced the prototyping of new nickel and cobalt-based alloys used in the aviation, space, nuclear, chemical, and oil and gas industries. This production facility starts in the Kola Division.