Fact.MR, a market research and competitive intelligence provider, analyses that the nickel hydroxide market is set to witness high-end growth based on exclusive usage of the material in battery manufacturing along with burgeoning application in electroplating and as a catalyst in the chemical industry.
Electricity generation from sun rays using photovoltaic cells has remained the industry call during the past few years. Solar panels with silicon-based photovoltaic cells require a lot of batteries, which drives up demand for nickel hydroxide in the market. The main principle underlying solar cell operation is the conversion of sunlight into direct current (DC), which necessitates the use of high-potential batteries to store energy.
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Besides, these batteries have proven to be useful for constant power supply applications to supply uninterrupted power and start generators. Moreover, various eco-friendly policies have proven to be demand drivers for an increase in solar panel sales, in turn, responsible for escalating demand for photovoltaic batteries that use nickel hydroxide as cathode materials. This has resulted in an increase in the consumption of battery materials over the past half-decade.
Additionally, batteries are now used in a variety of applications, including solar power, electric cars, railroads, inverters, and electric devices, which, in turn, raises demand for battery materials such as nickel hydroxide.
Key Takeaways from Market Study
- Nickel hydroxide market anticipated to add 1.7X value by 2031.
- East Asia to be most opportunistic pocket holding more than 35% market share throughout forecast period.
- Automotive industry to experience optimistic glaze by rising at CAGR of 6.7% over assessment period.
- Among applications, batteries has been the fastest-growing segment globally.
Capacity Expansion: Champion’s Approach
Vital players operating in the market are undertaking capacity expansion to become future-ready and meet the growing demand for battery materials from electric vehicle manufacturers. Additionally, companies have been investing in research & development of superior purity grades of Ni(OH)2, to, in turn, match client requirements.
- Umicore, a major nickel hydroxide producer, received a loan from the European Investment Bank for US$ 146 Mn to develop its battery material production facilities in Poland. It also spent US$ 372 Mn on a cathode material production plant in Nysa in 2021.
Such initiatives adopted by manufacturers keep the market competitive and ever-ready for future revenue-generating opportunities.
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Key Segments of Powder Nickel Hydroxide Industry Survey
- By Purity
- 2N Powder Nickel Hydroxide
- 2N5 Powder Nickel Hydroxide
- 3N Powder Nickel Hydroxide
- 3N5 Powder Nickel Hydroxide
- 4N Powder Nickel Hydroxide
- 5N Powder Nickel Hydroxide
- By Appearance
- Powder Powder Nickel Hydroxide
- Nano-Particle Powder Nickel Hydroxide
- Spherical Powder Nickel Hydroxide
- By End Use
- Battery
- Ni-MH
- Ni-Cd
- Electroplating
- Catalysts
- Photo-catalysis
- Electro-catalysis
- Battery
- By End-use Industry
- Chemicals
- Electricals
- Automobiles
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Report Benefits & Key Questions Answered
- Powder Nickel Hydroxide Company & brand share analysis: The report offers brand-share analysis on Powder Nickel Hydroxide to offer a more in-depth competition deep-dive. This is intended at assisting companies at proactive long-term planning.
- Powder Nickel Hydroxide Historical volume analysis: Factors affecting sales in the past are analyzed in detail. The report also offers comparative analysis between growth trajectory exhibited in 2016-2020 and 2021-2031.
- Powder Nickel Hydroxide Category & segment level analysis: To offer a comprehensive analysis, the market identifies leading segments and highlights chief factors enabling growth across these categories.
- Powder Nickel Hydroxide Consumption by demographics: The demographic analysis is intended at providing recommendations to companies to help them create growth strategies around dynamic consumption patterns.
- Powder Nickel Hydroxide Manufacturing trend analysis: Manufacturing trend analysis is the key highlight of the study. It offers vital data on strategies adopted by market players to align their manufacturing strategies as per prevailing market trends.
- Post COVID consumer spending on Powder Nickel Hydroxide : The survey offers a chapter dedicated to analyzing post COVID consumer behavior. Changes in their spending pattern are carefully analyzed to offer insights into potential impact on Powder Nickel Hydroxide
More Valuable Insights on Powder Nickel Hydroxide
Fact.MR, in its new report, offers an unbiased Market Analysis of Powder Nickel Hydroxide , Sales and Demand of Powder Nickel Hydroxide , analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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