Nickel Sulfate Market (Form: Crystal and Solution; Grade: En Grade, Plating Grade, High Purity Grade, and Others; and Application: Battery, Electroplating, Chemicals, Dyeing & Printing, and Others) - Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Nickel Sulfate market gathered revenue around USD 8.1 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 14.0% during the prediction period 2021 to 2027.

Growth Factors:

The global nickel sulfate market is driven by several factors; however, the huge demand for battery manufacturing for various end-use industries such as automobiles, electronics, chemicals, and textiles is the key market driver. Nickel sulfate usage in electroplating and dyeing & printing is also driving the demand for nickel sulfate significantly. The rise in the global demand for batteries and electroplating has led to considerable growth of the nickel sulfate market. There is a high demand for nickel sulfate in the manufacture of various batteries, primarily low-powered batteries and high-powered batteries. Thus, the rise in the demand for nickel sulfate in Li-Ion batteries and various other applications is propelling the demand for nickel sulfate in the automotive industry.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Nickel Sulfate market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Nickel Sulfate market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD 8.1 Billion by 2027
Growth Rate CAGR of 14.0% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered Form, Grade, Application and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Norilsk Nickel, Coremax, Palm Commodities International, Jinco Nonferrous, Umicore, Sumitomo Metal Mining Co., Ltd., Seido Chemical Industry Co., Ltd., Indian Platinum Pvt. Ltd., Univertical, Zenith, Anron Chemicals Co., Green Eco-manufacture Hi-tech (GEM), and Vizag Chemical.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Nickel Sulfate market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Nickel Sulfate Market: Dynamics

Batteries hold the key to transitioning away from fossil fuel dependence. They are set to play a major role in the next decade. In the near future, the energy storage market in the U.S. is expected to reach US$ 425 Bn.

Initially, batteries would be used to store minimal energy. However, currently, high-powered vehicles are being driven by battery power due to the technological development. This can be ascribed to the imposition of regulations on the use of fossil fuels by various countries and increasing awareness among the people regarding the harmful environmental impact of fossil fuels.

The economies of scale is making Li-ion the dominant technology. Li-ion battery requires nickel sulfate in the form of cathode. This is a result of the long history of Li-ion in the consumer electronics market and the significant recent scale of investments in Li-ion manufacturing, driven by the EV industry. This advancement in battery system from minimal storage of energy to high power driven vehicle is estimated to augment the global nickel sulfate market during the forecast period.

Manufacturers are focusing on the automotive industry, as the share held by this segment in the nickel sulfate market is likely to increase during the forecast period.

Regional analysis:

Asia Pacific holds the major share of global nickel sulfate market. The market in the region is anticipated to expand at a CAGR of more than 15.2% during the forecast period. Increase in demand for various batteries is driving the nickel sulfate market in Asia Pacific. China is a key country of the nickel sulfate market in Asia Pacific. It held major share of the nickel sulfate market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.

Europe is also a key region of the global nickel sulfate market. Germany led the nickel sulfate market in Europe in 2020. The increase in the demand for nickel sulfate in the automotive sector is driving the market in Germany.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the Nickel Sulfate Market include:  Norilsk Nickel, Coremax, Palm Commodities International, Jinco Nonferrous, Umicore, Sumitomo Metal Mining Co., Ltd., Seido Chemical Industry Co., Ltd., Indian Platinum Pvt. Ltd., Univertical, Zenith, Anron Chemicals Co., Green Eco-manufacture Hi-tech (GEM), and Vizag Chemical.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

Global Nickel Sulfate Market: Segmentation

Nickel Sulfate Market, by Form

  • Crystal
  • Solution

Nickel Sulfate Market, by Grade

  • En Grade
  • Plating Grade
  • High Purity Grade
  • Others (including Technical Grade)

Nickel Sulfate Market, by Application

  • Battery
  • Electroplating
  • Chemicals
  • Dyeing & Printing
  • Others (including Medical, Ceramics, and Catalysts)

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Nickel Sulfate market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Nickel Sulfate market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Nickel Sulfate markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Nickel Sulfate Market Study:

  • Growth of Nickel Sulfate in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Nickel Sulfate and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Nickel Sulfate Consumption Analysis
  •  Nickel Sulfate Production Analysis
  •  Nickel Sulfate and Management