Nickel Sulfate Market to Observe Growth at CAGR of 14.7% Due to Growing Popularity of Electric Vehicles, Says TMR
- The rising use of nickel sulfate with boric acid and nickel chloride in surface treatment for Watt nickel plating baths is expected to offer considerable growth to the nickel sulfate market
- Heightening prominence of nickel sulfate in ceramics, metal coatings, and applications such as blackening brass is projected to have a profound impact on the growth of the nickel sulfate market
ALBANY, N.Y., Nov. 4, 2021 /PRNewswire/ -- The demand for electroplating and batteries has increased substantially over the years. Nickel sulfate is a prime component in the manufacturing of batteries and electroplating. Therefore, the demand for nickel sulfate is estimated to increase during the forecast period of 2021-2031. Based on all these factors, the nickel sulfate market is expected to observe steady growth.
Properties of nickel sulfate such as high solubility in any aqueous solutions and others are projected to lead to substantial growth of the global market. Furthermore, the use of nickel sulfate in applications such as electroplating, dyeing and printing, medical, catalysts, and ceramics other than batteries is anticipated to present an array of growth opportunities for the global market.
Transparency Market Research (TMR) has conducted an extensive analysis on various factors of growth associated with the nickel sulfate market. The analysts from TMR expect the global market for nickel sulfate to expand at a CAGR of 14.7% during the forecast period of 2021-2031. The nickel sulfate market is expected to surpass US$ 8.82 Bn by 2031.
Get PDF Brochure for More Insights – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=37580
There is a need for high quality feedstock materials such as intermediary nickel products, powders, and briquettes for the production of batteries utilized in EVs. Manufacturers in the nickel sulfate market are gaining a robust research base in converting nickel laterite ores to NPI and further to nickel matte for innovating in batteries used for EVs. The growing popularity of electric vehicles is also expected to result in substantial growth of the nickel sulfate market during the forecast period. The increasing focus on environmental concerns around the world is compelling many countries to impose strict regulations on vehicular emissions and promote electric vehicles. These factors will ultimately contribute to the growth of the nickel sulfate market.
Key Findings of Report
Extensive Demand for Electric Vehicles to Support Market Growth Trajectory
High CO2 emissions generated through transportation is resulting in increased adoption of electric vehicles. The transition from gasoline-powered vehicles to electric vehicles to decrease the pollution levels is anticipated to have a profound impact on the growth of the nickel sulfate market. The emergence of nickel sulfate as a prime component in the manufacturing of various batteries is likely to invite exponential growth for the global market.
Ask for Special Discount on Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=37580
High Focus on Li-Ion Batteries to Drive Nickel Sulfate Market
The demand for Li-ion batteries has increased considerably due to the growing popularity of electric vehicles. These batteries require nickel sulfate in cathode form. In addition, Li-ion batteries are also used in consumer electronics on a large scale. Furthermore, large-scale investments in the Li-ion manufacturing sector is also estimated to ensure promising growth for the nickel sulfate market.
Asia Pacific to Emerge as Dominant Region
Asia Pacific is estimated to lead the nickel sulfate market during the forecast period of 2021-2031. The nickel sulfate market in the region is expected to expand at a CAGR of 15.6% during the forecast period. China may serve as a prominent growth-generating country in the region. Europe is also estimated to be a key region for the nickel sulfate market. The growing demand for nickel sulfate from the automotive sector is contributing to the growth of the market in the region.
Some key players into the nickel sulfate market are Sumitomo Metal Mining Co., Ltd., Green Eco-manufacture Hi-tech (GEM), Palm Commodities International, Indian Platinum Pvt. Ltd., Vizag Chemical, Zenith, and Univertical.
Request a Sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=37580
Global Nickel Sulfate Market – Segmentation
By Form
- Crystal
- Solution
By Grade
- En Grade
- Plating Grade
- High Purity Grade
- Others (Technical Grade)
By Application
- Battery
- Electroplating
- Chemicals
- Dyeing & Printing
- Others (Medical, Ceramics, and Catalysts)
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Buy an Exclusive Research Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=37580<ype=S
Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research's award-winning coverage of the global Chemicals & Materials Market:
Stamping Foils Market - https://www.transparencymarketresearch.com/stamping-foils-market.html
Feldspar and Nepheline Syenite Market - https://www.transparencymarketresearch.com/feldspar-nepheline-syenite-market.html
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: http://www.transparencymarketresearch.com
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/nickel-sulfate-market.htm
SOURCE Transparency Market Research
![](https://rt.prnewswire.com/rt.gif?NewsItemId=IO61105&Transmission_Id=202111040730PR_NEWS_USPR_____IO61105&DateId=20211104)
Share this article