Nickel Hydroxide Global Market – Overview
Nickel Hydroxide is a green, crystalline, inorganic compound that produces toxic gases upon heating. Nickel Hydroxide is used in nickel-cadmium batteries and as a catalyst in chemical reactions. Exposure to this substance can cause severe dermatitis, skin and asthma-like allergies and affects the lungs, kidneys, gastrointestinal tract and neurological system. Nickel Hydroxide is a known carcinogen and is associated with an increased risk of developing lung and nasal cancers. (NCI05)
According to a recent study report published by the Market Research Future, The Global Market of Nickel Hydroxide Market has seen a positive growth in the past few years and is estimated to progress continually with outstanding growth record. MRFR Analysis also anticipates that the global market of Nickel Hydroxide is forecasted to witness a thriving growth and will reach to the US $2,841.91 Million by 2021, from $2,298.50 Million in 2016 with a striking CAGR during the anticipated period (2016 – 2021).
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The report states that the Global Nickel hydroxide is an integral chemical compound which is mostly used for manufacturing of batteries. As per the report, it has been analyzed that increasing demand for batteries will simultaneously increase the demand for Nickel Hydroxide. From the application segment, the mid-high rate batteries have accounted the largest share in 2016 followed by pocket batteries. Geographically, China ranks top in productions and capacity.
The Global Nickel Hydroxide Market had witnessed a growth over 6% of CAGR during the period 2011-2016 and further expected to grow with a striking CAGR of during the forecasted period 2016-2021. The total market size of Nickel Hydroxide has been evaluated at US$ 2298.50 million in the year 2016.
The Global Nickel Hydroxide Market is majorly driven by the increasing usage of battery oriented electronic devices whereas, the market growth might get restricted due to the highly toxic in nature of system during the anticipated period, states the MRFR Research Analyst while commenting upon this deep diving factual study report, presented through more than 100 market data tables and figures, widely spread over 110 pages.
Nickel Hydroxide Global Market – Regional Analysis
China is leading the market of Nickel Hydroxide with the largest market share followed by Europe which accounted for a substantial market share in the year 2016. Asia Pacific is a prominent market for Nickel Hydroxide which dominated the Global market share. The North American and European Nickel Hydroxide market stands as second largest market which is expected to grow with a decent CAGR during the forecasted period.
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Nickel Hydroxide Global Market – Key Players
Nickel Hydroxide global market appears to be highly competitive. Marketers are competing on the basis of price, quality, innovation, reputation, and distribution. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the Nickel Hydroxide global market. These strategies are expected to improve product quality and increase production capacity to meet the rapidly growing demand, particularly from the emerging regions. With increasing industrialization and upgradation of technology to manufacture batteries, manufacturers are setting up facilities to produce Nickel Hydroxide in the most efficient manner. Many manufacturing facilities which had been non-functional in the past few years are getting in to action which is anticipated to impact the market positively. Key Players are striving to inculcate latest technical innovations in their procedure to reduce the harmful factors.
Profiled in MRFR Analysis some of the leading market players in the Global Nickel Hydroxide Market primarily include Norilsk Nickel, Sumitomo Metal Mining Co., Ltd, ERAMET, Tanaka Chemical Corporation, Jiangmen chancsun Umicore Industry Co., Ltd, Henan Kelong New Energy Co., Ltd, Jilin Jien Nickel Industry Co., LTD, ALT Cobalt & Nickel Products (Dalian) Co., Ltd and others.
Nickel Hydroxide Global Market – Segmentation
The Nickel Hydroxide Market is segmented in to 2 key dynamics for the convenience of the report and enhanced understanding; Nickel Hydroxide market is segmented into applications which primarily include batteries and by Region.
Segmentation by Application: Comprises Batteries. The batteries are further segmented into pocket batteries and mid-high rate batteries.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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