Kansai Catalyst Co., Ltd., Norilsk Nickel Group, and Tinchem Enterprises among others, are the major players in the global nickel hydroxide market.
The global nickel hydroxide market is expected to grow in the forecast period of 2023-2028 at a CAGR of 5%. As per the analysis by Expert Market Research, the market is being driven by the rising use of nickel hydroxide in electrochromic devices.
The growing applications of nickel hydroxide in electrochromic devices, battery electrodes, supercapacitors, and electrochemical sensors, among others, are propelling the market. The development of nickel hydroxide nanosheet membranes for water purification and organic solvent filtration is anticipated to fuel the market.
Nickel hydroxide is used as a battery material in electric vehicle batteries to enhance their performance, durability, and reliability. With the growing popularity of electric vehicles, the utilisation of nickel hydroxide is increasing. Various governments are also promoting the use of nickel hydroxide by offering favourable incentives, which is expected to aid the market for nickel hydroxide. Furthermore, leading electric vehicle manufacturers are increasingly investing to expand the production of nickel for meeting its surging demand, which is anticipated to support the nickel hydroxide market growth in the forecast period.
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Kansai Catalyst Co. Ltd. is a prominent manufacturer of functional materials and chemicals. Its products and solutions are used in various applications like electronic components, reagents, pigments, surface treatments, and batteries, among others. Some of its leading products include cobalt compounds, sponge metal catalysts, copper compounds, and zinc compounds, among others. By using innovative technologies, the company aims to develop high-quality and high-purity products.
Norilsk Nickel is a leading mining and metal company, based in Russia. It is also involved in the manufacturing of high-grade nickel, palladium, copper, ruthenium, sulphur, gold, and selenium, among others. Its products are purchased by over 400 partner companies and supplied to nearly 37 countries across the globe. Through its sustainability efforts, the company aims to reduce greenhouse gas emissions and attain net-zero emissions in the Russia-Norway border area.
Tinchem Enterprises is a company that supplies, manufactures, and exports a wide range of industrial chemicals. Its product portfolio, including tin chemicals, nickel chemicals, and phosphating chemicals, is recognised for extended shelf stability and accurate composition. The company’s products are widely exported to South Korea, the United States, Australia, Sri Lanka, Japan, and New Zealand.
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