Surging Demand for Nickel Carbonate Driven by Electroplating and Industrial Applications, Projected for High Growth Rates

Nickel Carbonate

The global nickel carbonate industry size 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.

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.

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 prices have 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.

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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

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 Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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