Nickel Hydroxide Market Size, Share, Growth, and Industry Analysis by Type (Pure Nickel Hydroxide, Contain Cobalt Nickel Hydroxide, Contain Zinc Nickel Hydroxide, Contain Cadmium Nickel Hydroxide, and Others) By Application (Batteries, Electronics, Chemical, and Others) Forecast From 2025 To 2034

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NICKEL HYDROXIDE MARKET OVERVIEW

The global Nickel Hydroxide Market was valued at USD 3.83 billion in 2024 and steadily progressing to USD 6.76 billion by 2034, with a CAGR of 6.53% from 2025 to 2034.

The United States Nickel Hydroxide Market size is projected at USD 1.15812 billion in 2025, the Europe Nickel Hydroxide Market size is projected at USD 0.93492 billion in 2025, and the China Nickel Hydroxide Market size is projected at USD 1.22052 billion in 2025.

In the market study, our analysts have considered market players such as Norilsk, SMM Group, Tanaka-Chemical, Kansai Catalyst, Chancsun Umicore, Henan Kelong, Anhui Yaland, Jilin Jien, Kingray New Materials, Jinchuan Group, and Jiangmen Fangyuan are top companies in the nickel hydroxide market. 

In electrochemical processes including electrocatalysis, supercapacitors, electrochromic devices, photocatalysis, and electrochemical sensors, nickel hydroxide is also used. Due to various technological advancements and improvements related to certain applications, the nickel hydroxide market is anticipated to grow at an attractive rate over the forecast period. Market participants in the nickel hydroxide market are adjusting their operating models to the new norm by focusing on digitizing processes and embracing cutting-edge advancements in robotic automation and artificial intelligence. Rechargeable battery demand is rising steadily as energy demands increase globally as a result of increased urbanization, which is anticipated to support the growth of the nickel hydroxide market.

KEY FINDINGS

COVID-19 IMPACT

Halt on Manufacturing Operations to Slower Market Growth

To meet the short-term COVID-induced demand, businesses that are actively expanding their capacity must exercise caution while examining these unexpected demand patterns. The nickel hydroxide market industry's future will be shaped from 2021 to 2031 by changes in social, economic, trade, and political situations following the pandemic, along with anticipated changes in environmental legislation. For several uses, the COVID-19 Nickel Hydroxide Market has reported conflicting results. The closure of non-essential manufacturing businesses caused the market to shrink by 1.2% in 2020. The Nickel Hydroxide Market landscape is hampered by the uneven recovery in various end markets and regions.

LATEST TRENDS

Increasing Technological Advancements to Boost Market Growth

The nickel hydroxide market is currently going through an incredible phase of mergers, joint ventures, expansions, and agreements formed due to technological advancements in the synthesis of nickel hydroxide and its end-use applications. A more resilient and effective grade of nickel hydroxide is produced, and one such grade is spherical-coated nickel hydroxide, which has been emphasized by all major enterprises in this sector. The idea that high-performance materials can be created by mixing molecules at the atomic or subatomic level was developed by the R&D departments of these companies. Spherical coated nickel hydroxide grade is noted for having exceptional fallibility due to its amorphous composition. The aforementioned elements maintain a constant demand for nickel hydroxide market in 2033.

• Battery demand surge: NiMH and lithium-nickel batteries account for over 60 % of nickel hydroxide use, aligning with global EV growth.

• Renewable push: Government-backed energy storage plans have expanded nickel hydroxide battery installations by 35 %.

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NICKEL HYDROXIDE MARKET SEGMENTATION

By Type Analysis

As per the type, the market is classified as follows:Pure Nickel Hydroxide, Contain Cobalt Nickel Hydroxide, Contain Zinc Nickel Hydroxide, Contain Cadmium Nickel Hydroxide, and Others.Due to the Ni-Cd batteries, which contain cadmium nickel hydroxide and offer this very property and the additional benefit of being discharged for a longer period, cadmium nickel hydroxide dominates the nickel hydroxide market share.

By Application Analysis

Based on application, the market is segmented as follows: Batteries, Electronics, Chemical, and Others.Due to the use of nickel hydroxide in the automobile industry, the application of nickel hydroxide in batteries has continued to be one of the main demand drivers over time.

DRIVING FACTORS

Increased Adoption of Electric Vehiclesto Facilitate Market Development

Since many car manufacturers are switching to hybrid electric vehicle versions of their current IC engine vehicles, the automotive industry is likely to continue to be one of the main drivers of nickel hydroxide market growth. Additionally, there has been an increase in the total number of electric vehicle registrations in 2020, which shows that consumers are ready to accept electric vehicles and switch to a greener alternative. Nickel hydroxide batteries' superior performance, dependability, and longer battery life are expected to drive the product's market expansion. These elements are anticipated to support nickel hydroxide market growth over the projection period.

Rising Demand for Renewable Sources to Promote Industry Progress

Its use in producing renewable sources is anticipated to increase in response to the growing environmental consciousness. Furthermore, to lessen their reliance on non-renewable energy sources to meet their electrical needs, an increasing number of nations have been investing in developing their solar infrastructure. As a result, there is a greater demand for nickel-cadmium batteries, which are recommended for starting generators and supplying uninterrupted power since they maintain a steady current throughout the entire cycle and are known to offer constant electric current.The increasing need for renewablesources is driving the worldwide nickel hydroxide market.

EV battery incorporation: EPA reports show 40 %+ U.S. battery manufacturers incorporate nickel hydroxide for high-energy storage.

Production concentration: Asia-Pacific contributes 70 % of global supply, reflecting investment in cathode-grade facilities.

RESTRAINING FACTORS

Concerns About Toxicity of Nickel Hydroxide to Hinder Market Growth

Growing worries about the nickel hydroxide market's toxicity are impeding its expansion. When heated, nickel hydroxide emits poisonous fumes. Skin and asthma-like allergies as well as acute dermatitis can be brought on by nickel hydroxide exposure. The kidneys, lungs, digestive system, and nervous system are all impacted. Additionally, nickel hydroxide is a carcinogen that can enhance the risk of lung and nasal malignancies. The growth of the world nickel hydroxide market is likely to be constrained by concerns about the toxicity of Ni2+ ions.The rising cost of raw materials, which could hinder production in the next years, is a significant nickel hydroxide market deterrent in addition to health-related worries.

• Price swings: LME inventory and nickel cost variances exceed 30 % YoY, posing risk to production planning.

• Regulatory barriers: Producers in regions like North America face high capital and compliance costs.

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NICKEL HYDROXIDE MARKET REGIONAL INSIGHTS

Increase in Demand for Electric Vehicles to Propel Market Progress in North America

The U.S. is one of the few nations with nationwide battery charging networks that have been built. To decarbonize the economy, the United States was a pioneer in the use of electric vehicles, which has resulted in an alarming rise in their prevalence on the road. A new government plan calls for around 45% of the world's electricity needs to be supplied by solar energy by the year 2050, up from just 4% in the year 2020. The nation would need to double its installed solar energy generation capacity every year for the following four years, then again double the capacity by 2030, to meet this goal. Since nickel hydroxide is one of the cathode materials used in solar cells, which are used by these plants to store energy, it is anticipated that demand for nickel hydroxide market will increase throughout the long-term forecast period.

KEY MARKET PLAYERS

Market Players Focus on New Product Launches to Strengthen Market Position

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.  

• Norilsk Nickel: Ranked among “Key companies in the Nickel Hydroxide Market” in major industry reports.

• Sumitomo Metal Mining: Listed consistently as a top-tier market player in global analyses.

List of Top Nickel Hydroxide Companies

• Henan Kelong
• Anhui Yaland
• Kansai Catalyst
• Jinchuan Group
• Chancsun Umicore
• Tanaka-Chemical
• Norilsk
• SMM Group
• Jiangmen Fangyuan
• Jilin Jien
• Kingray New Materials

REPORT COVERAGE

The report covers overall market aspects, including market segmentation based on its type and application. The report depicts a diverse group of participants, including the market and potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.