The global Nickel Carbonate market is estimated to expand at a remarkable growth rate of 5.6% CAGR over the forecast period between 2022 and 2032, finding future market insights (FMI) in a recent market analysis.
Zinc-nickel plating solutions are one widely accepted solution to develop corrosion resistance in metals used in the automotive and construction industry. Nickel Carbonate is used as a nickel source in such plating solutions which is expected to boost the sales of nickel carbonate over the upcoming assessment period of 2022-2032.
In addition, Nickel Carbonate is also getting fair traction as a catalyst in a variety of end-use industries. The oil & gas industry is playing a key role in promoting the use of nickel carbonate as nickel catalysts. Consistent growing demand for cleaner and high-quality fuels is expected to be the key reason behind such robust growth in demand for nickel catalysts in oil and gas industries owing to its use in selective hydrogenation of unsaturated compounds produced during steam cracking.
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However, the high price of the product owing to expensive raw materials used such as nickel has remained a longstanding challenge for the manufacturers and consumers. High product price has compelled manufacturers and consumers to find and develop cost-effective solutions to maintain a competitive atmosphere in the market.
“Substantial growth in the electroplating industry is expected to be a key factor promoting the growth of nickel carbonate over the forecast period,” says an FMI analyst.
Key Takeaways:
- The global Nickel Carbonate market is expected to attain a value of over US$ 459.6 Million by the end of the forecast period growing at a CAGR of 5.6% over the forecast period.
- The rising demand for Nickel Carbonate for electroplating is expected to propel the growth of the market in recent years.
- Key Manufacturers are engaged in providing tailored solutions to consumers and gaining a competitive edge in the market.
- The electroplating industry is the major consumer application of nickel carbonate. The segment is anticipated to consume around 72% of nickel carbonate produced every year.
- Owing to a consistent consumer shift toward a high-quality products. 42% – 46% Nickel-containing nickel carbonate is expected to witness substantial growth over the forecast period.
- Despite various driving factors, the high price of nickel carbonate is controlling the growth rate of the global nickel carbonate market.
Competitive Landscape
Key Companies Profiled
- American Elements
- Liangren Chemicals
- Umicore
- Reullei
- Thermo fischer Scientific
- abcr GmbH
- Himalaya Industries
- Uma Chemicals
- Eramet
- jinchuan group
- Jiangxi Nuclear Industry Xingzhong New Material Co., Ltd
- Fairsky Industrial
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Nickel Carbonate Market By Category
By Ni Content:
- < 38%
- 38% – 42%
- 42% – 46%
- > 46%
By Application:
- Electroplating
- Catalysts
- Pigments
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
About FMI – Chemicals and Materials
The Chemicals and Materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
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