Nickel sulfate is a yellow, blue, green crystalline inorganic chemical that releases poisonous fumes when heated. It's employed in electroplating and a chemical intermediary in the production of other nickel compounds. Nickel sulfate is a byproduct of copper refining and occurs naturally as retgersite, a rare mineral. Paper clips, keys, enamel colours, and electrical wire are all made with nickel sulfate. Blue salt is another name for nickel sulfate hexahydrate. It can also be created by dissolving nickel metal or nickel oxides in sulfuric acid. According to market research, Increase the usage of nickel sulfate in battery and electroplating applications is an important factor expected to increase the growth of global nickel sulfate market during the forecast period.
Data Bridge Market Research analyses that the High Purity Nickel Sulfate Market was valued at USD 851.20 million in 2021 and is expected to reach USD 1398.19 million by 2029, registering a CAGR of 6.4% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Market Definition
Nickel sulfate has the chemical formula NiSO4 and is an inorganic substance. It has a blue colour and is readily soluble in any aqueous solution. Nickel sulfate is generally obtained as a byproduct of copper refining. Nickel sulfide and laterite ore are used to make nickel metal, mainly for the production of stainless steel and nickel sulfate, an essential ingredient in batteries that drive electric vehicles.
Competitive Landscape and High Purity Nickel Sulfate Market Share Analysis
The high purity nickel sulfate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to high purity nickel sulfate market.
Some of the major players operating in the high purity nickel sulfate market are:
Umicore (Belgium)
Norilsk Nickel (Russia)
Sumitomo Metal Mining Co., Ltd. (Japan)
Green Eco-Manufacturer (China)
Jilin Jien Nickel Industry (China)
Seido Chemical Industry Co., Ltd. (Japan)
Jinco nonferrous metals co. Ltd. (China)
Univertical (US)
Nicomet (India)
Zenith (Switzerland)
Coremax corporation (China)
Norilsk Nickel (Russia)
Palm Commodities Inc. (US)
Indian Platinum Pvt. Ltd. (India)
Anron Chemicals Co. (India)
com (India)
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Global High Purity Nickel Sulfate Market Scope
The high purity nickel sulfate market is segmented on the basis of form, grade and applications. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Form
Anhydrous
Heptahydrate
Hexahydrate
Grade
EN grade
Plating grade
High-purity grade
Application
Battery
Electroplating
Chemicals industry
High Purity Nickel Sulfate Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
Technology advancement
The rising demand for electric vehicles is propelling advancements in automotive technology. The demand for materials required to make electric vehicle batteries is likely to rise as a result. Furthermore, the cost and long-term viability of technological advancements in battery manufacture will almost certainly lead to an increase in nickel utilisation.
Extensive demand for electric vehicles to support market growth trajectory
High emission of CO2 through transportation results from increasing the use of electric vehicles. The change from gasoline-powered vehicles to electric vehicles decreases pollution levels, which is expected to reason for the growth of the nickel sulfate market. The emergence of nickel sulfate as a main constituent in the manufacturing of various batteries is expected to invite exponential growth for the global market.
Extensive use of nickel sulfate in metal-finishing of electroplating
In textile printing and dyeing, nickel sulfate is used as a mordant. Metal coatings, ceramics, and applications like blackening brass are all gaining popularity. MM Ceramics & Ferro Alloys, a metal supplier based in Mumbai, India, is increasing nickel sulfate output, which is widely used in electroplating metal finishing applications.
Increase in application due to unique properties
Properties of nickel sulfate for example, high solubility in any aqueous solutions and others are expected to substantial growth of the global market. Moreover, nickel sulfate in applications such as electroplating, medical, catalysts, dyeing and printing and ceramics other than batteries is expected to present an array of growth for the global market.
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Opportunities
Nickel sulfate will carve the way for the growth of the market
Due to the properties of nickel sulfate such as high solubility in any aqueous solutions and others are the reasons to lead to substantial growth of the global market. Furthermore, the uses of nickel sulfate other than batteries such as electroplating, dyeing and printing, medical, catalysts, and ceramics is expected to present an array of growth opportunities for the global market of high purity nickel sulfate.
This high purity nickel sulfate market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the high purity nickel sulfate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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