Nickel Hydroxide Market Regional Analysis:
North American Market Insights
North America industry is likely to dominate majority revenue share of 40% by 2035. With over a million workers and significant trade surpluses, the chemical industry is one of the biggest manufacturing sectors in the US. The chemical industry is the second largest in the world and is one of the country's oldest industries led by the shale gas revolution which has brought the United States back to prominence as a low-cost chemical-producing zone. For instance, in 2022, the US chemical sector is projected to expand its output volume by more than 4%.
European Market Insights
The Europe Nickel Hydroxide market is estimated to be the second largest, during the forecast timeframe attributed to the growing focus on sustainability. As electric vehicles (EVs) and renewable energy sources become more prevalent in Europe, there will likely be a rising demand for energy storage technologies, such as batteries.
Further, the investment in electric mobility and renewable energy storage solutions is projected to be stimulated by the European Union's efforts and legislation aimed at lowering carbon emissions and encouraging clean energy technology, which will raise the demand for nickel hydroxide. For instance, the EU's climate regulation requires member states to reduce their greenhouse gas emissions by more than 50% by 2030.
