Global Nickel Nitrate Hexahydrate Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Product Form;

Solid Nickel Nitrate Hexahydrate and Nickel Nitrate Hexahydrate Solution.

By Purity;

Standard Purity Nickel Nitrate Hexahydrate and Extra Pure Nickel Nitrate Hexahydrate.

By End Use;

Battery Manufacturing, Nickel Plating, Refinery Treatment, Chemical Manufacturing and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn197246667 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Nickel Nitrate Hexahydrate Market (USD Million), 2020 - 2030

In the year 2023, the Global Nickel Nitrate Hexahydrate Market was valued at USD 962.70 million. The size of this market is expected to increase to USD 1,230.64 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 3.6%.

The global market for Nickel Nitrate Hexahydrate, a chemical compound utilized in a variety of industrial applications, has been witnessing significant growth in recent years. This compound, known for its role as a precursor in the synthesis of nickel-based catalysts and as a crucial element in electroplating, is gaining traction due to the expanding demand across multiple sectors. The rise in its usage can be attributed to its critical applications in the production of stainless steel, electronics, and battery manufacturing, which are experiencing robust growth globally.

In the stainless steel industry, Nickel Nitrate Hexahydrate is used extensively to enhance the corrosion resistance and durability of steel products. This application is particularly important as industries strive to develop materials that can withstand harsh environments, leading to increased longevity and reduced maintenance costs. The growing infrastructure and construction activities worldwide are driving the demand for high-quality stainless steel, thereby boosting the market for Nickel Nitrate Hexahydrate.

The electronics sector also represents a significant portion of the demand for Nickel Nitrate Hexahydrate. With the rapid advancement of technology and the proliferation of electronic devices, there is an increasing need for high-performance components. Nickel Nitrate Hexahydrate is instrumental in the production of nickel-based electronic components, which are essential for the functionality of various devices, including smartphones, computers, and advanced medical equipment. The ongoing innovation and development in this sector are expected to further propel the market growth.

The burgeoning electric vehicle (EV) industry is a major driver for the Nickel Nitrate Hexahydrate market. The compound is a critical ingredient in the manufacture of nickel-metal hydride and lithium-ion batteries, which are pivotal for the operation of electric vehicles. As the world shifts towards sustainable energy solutions and the adoption of EVs accelerates, the demand for Nickel Nitrate Hexahydrate is anticipated to rise substantially. This trend is bolstered by supportive government policies and investments aimed at reducing carbon emissions and promoting cleaner energy alternatives.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product Form
    2. Market Snapshot, By Purity
    3. Market Snapshot, By End Use
    4. Market Snapshot, By Region
  4. Global Nickel Nitrate Hexahydrate Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Growing EV Demand
        2. Electronics Sector Expansion
        3. Stainless Steel Production
        4. Technological Advancements
      2. Restraints
        1. Environmental Regulations
        2. High Production Costs
        3. Raw Material Scarcity
        4. Market Consolidation
      3. Opportunities
        1. Sustainable Practices Adoption
        2. New Applications Development
        3. Emerging Markets Growth
        4. Strategic Partnerships Expansion
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Nickel Nitrate Hexahydrate Market, By Product Form, 2020 - 2030 (USD Million)
      1. Solid Nickel Nitrate Hexahydrate
      2. Nickel Nitrate Hexahydrate Solution
    2. Global Nickel Nitrate Hexahydrate Market, By Purity, 2020 - 2030 (USD Million)
      1. Standard Purity Nickel Nitrate Hexahydrate
      2. Extra Pure Nickel Nitrate Hexahydrate
    3. Global Nickel Nitrate Hexahydrate Market, By End Use, 2020 - 2030 (USD Million)
      1. Battery Manufacturing
      2. Nickel Plating
      3. Refinery Treatment
      4. Chemical Manufacturing
      5. Others
    4. Global Nickel Nitrate Hexahydrate Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Sigma-Aldrich Corporation
      2. Henan DaKen Chemical CO., LTD.
      3. Loba Chemie Pvt. Ltd.
      4. Sisco Research Laboratories Pvt. Ltd.
      5. The Shepherd Chemical Co.
      6. GFS Chemicals Inc
      7. The Hall Chemical Co.
      8. Adamas Reagent, Ltd.
      9. Alfa Aesar
  7. Analyst Views
  8. Future Outlook of the Market