Nickel Hydroxide Market Analysis

Application (Battery, Electroplating, Catalysts)

In nickel hydroxide market, battery segment is likely to account for around 45% share by 2037. Nickel hydroxide is utilized as the positive electrode in other rechargeable battery systems, like Ni-Fe and Ni-Cd systems, and has acquired significance as the cathode active material for nickel hydride batteries. For the battery sector, nickel hydroxide combined with cobalt is a well-known powder composition that can be used in rechargeable battery electrodes, nickel metal hydride batteries, and nickel-cadmium batteries.

The primary non-lithium battery material is nickel hydroxide, which is strategically significant as an essential part of high-power, high-cycle life energy storage systems used in the energy, transportation, and aerospace sectors since security concerns are the main priority in these sectors. Moreover, battery manufacturing uses nickel hydroxide as a component which is an essential part of the storage and renewable energy industries, and is a cathode substance utilized in solar cells, which these plants employ to store energy. For instance, through 2026, more than 92% of the expansion in the world's electricity capacity is expected to come from renewable sources.

In addition, the technique of nickel electroplating involves using chemical reduction or electrolytic procedures to deposit nickel on a component that is submerged in an electrolyte solution, which is a great method of surface finishing for engineering and decorative applications as it has a brighter and smoother finish, and has good corrosion resistance and wears.

Furthermore, in chemical processes, nickel hydroxide functions as a non-noble metal co-catalyst, and is considered to be the most active OER catalyst family in alkaline electrolytes.

End-Use (Chemical, Electronics, Automobiles, Pharmaceuticals, Agriculture, Food)

The automobile segment is set to garner a notable share shortly. In the automobile sector, nickel hydroxide is essential, especially when it comes to electric and hybrid cars (EVs and Vs) as it plays a crucial role in the lithium-ion battery's cathode which is vital for supplying energy to EVs' electric propulsion systems owing to their high energy density.

With increasing environmental regulations, and government incentives for cleaner transportation options, the adoption of electric vehicles is on the rise globally which is expected to drive the demand for nickel hydroxide as it offers higher energy density compared to cobalt-rich alternatives which allows for longer driving ranges and improved performance in electric vehicles. Nickel is more abundant and less expensive than cobalt, making nickel-rich batteries more cost-effective and potentially more sustainable which can contribute to the transition toward cleaner energy and reduced greenhouse gas emissions.

Our in-depth analysis of the global nickel hydroxide market includes the following segments: