Global Nickel Carbonate Market by Type (Industrial Grade, ACS & Reagent Grade), By Application (Plating, Catalyst, Pigments, Others) and Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
Market Outlook
The global Nickel Carbonate Market was valued at USD 2,19,744.5 Thousand in 2019 and is projected to reach USD 2,81,695.3 Thousand by 2027 expanding at a CAGR of 3.9% during the forecast period, 2020-2027.
Nickel carbonate identifies one or more inorganic compounds containing carbonate and nickel. From an industrial point of view, the most significant nickel carbonate is the simple nickel carbonate with the chemical formula Ni4CO3(OH)6(H2O)4. Simpler carbonates, most likely to be contained in the laboratory, are NiCO3 and its hexahydrate.
They are paramagnetic green solids containing Ni2+ cations. Nickel carbonate is the starting material for the preparation of several nickel salts. It interacts with the dilute acids that develop carbon dioxide, and the resulting nickel salts are formed after evaporation. Nickel carbonate is also in the preparation of nickel catalysts and a variety of special nickel compounds. It is also used as a balancing agent in nickel plating solutions.
Some uses are in glass coloring and in the manufacture of ceramic pigments. With the development of several plating technologies in the automotive industry, the nickel carbonate market is a growing especially in developing countries. In addition, emerging economies such as China, India and others is generating new end-use prospects for the global demand for nickel carbonate. However, higher research costs and human toxicity can serve as a constraining factor for the growth of the global nickel carbonate market.
Market Dynamics
The market is driven by factors such as increasing use of nickel carbonate in various end-use industries, continuous rise in automotive industry, is expected to drive the demand for nickel carbonate. Growing production of nickel. Nickel carbonate is being used as a neutralizing agent for nickel plating solutions. The use of nickel carbonate is extensive in the electroplating process.
Fuel producers are eliminating sulfur using nickel carbonate-based catalysts. Nickel carbonate is favored as a possible edible oil hardening agent. Nickel carbonate has been found to be used in the petroleum refining industry. Nickel carbonate is also used in the coloring of glass and in the processing of ceramic pigments. These numerous applications of nickel carbonate are creating a favorable outlook for the global nickel carbonate industry.
Continuous exposure to nickel carbonate is known to cause an asthma-like allergy. Furthermore, exposure can cause asthma attacks with shortness of breath, coughing, and/or chest tightness. Control systems are being utilized to avoid exposure to hazardous materials. Ventilation is being implemented, which is a quite common control measure for hazardous substances. Well-designed and well-maintained ventilation systems eliminate harmful vapors and fumes.
However, this underlying toxic effect is declining the utilization of nickel carbonate in end use industries. Moreover, significant decline in nickel production due to temporary suspension of mining and mining related activities due to the COVID-19 pandemic are some of the factors restraining the market growth. Several small and medium scale competitors are forming alliances and increasing focus on production for new end use industries are some of the major opportunities in the market.
Segmental Outlook
Based on type, the global nickel carbonate market is segmented into industrial grade and ACS & reagent grade. The industrial grade segment accounted for 88.3% of the market share in 2019. However, the ACS & Reagent Grade segment will grow with the highest CAGR growth rate of 5.2% during the forecast period (2020-2027).
The large share of the industrial grade segment is attributed to the fact that nickel carbonate is finding the most application as it is suitable for the use of nickel and zinc coatings to provide corrosion protection for steel used in automotive applications. Industrial grade nickel carbonate is mostly used as a catalyst and as a nickel salt of raw materials. Moreover, it is used in the ceramics industry as a coloring agent and pH-adjusting agent.
The ACS and reagent grade segment are anticipated to expand with the highest CAGR owing to the increasing adoption nickel carbonate for medical research institutes and laboratories. ACS and reagent grade are being extensively used in the medical research industry motivated by a major increase in funding from the central government and local governments, and a rapidly expanding biotechnology sector. ACS & reagent grade nickel carbonate is used for research and laboratory use only. Several manufacturing companies approve orders only to a licensed laboratory or research facility.
Based on application, the global nickel carbonate market is segmented into plating, catalyst, pigments, and others. The plating segment accounted for 69.6% of the market share in 2019. However, the catalyst segment will account the highest CAGR growth rate of 4.2% during the forecast period (2020-2030). The growing demand for adaptable manufacturing processes for a wide range of applications in the automotive and electrical & electronics industries are likely to raise the demand for electroplating. Due to which, the plating segment in the global nickel carbonate market is the most prominent in 2019.
The pigments segment is anticipated to expand at a substantial CAGR of 4.0%, owing to the extensive use of nickel carbonate is anticipated to boost the market growth and create opportunities for the production of nickel carbonate in large quantities in the near future.
Regional Outlook
Based on regions, the global nickel carbonate market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Asia Pacific accounts for a major share of the global market (73.8%), followed by Europe. The market in Asia Pacific is estimated to expand at a substantial CAGR (4.1%) during the forecast period owing to increasing investments for the expansion of the chemical and materials industry and the presence of major chemical producing countries, such as China, Japan, India etc. in the region.
The growth of the market in Asia Pacific is attributed to the increasing number of local manufacturers of nickel carbonate. Additionally, developing countries, such as India and China, are offering market players ample opportunities to increase their presence, thus fueling the market in the region during the forecast period.
Europe is projected to generate absolute dollar opportunity of USD 7,000.3 Thousands from 2020 to 2027. Several nickel carbonate manufacturers have incorporated sustainability into their corporate strategies by evaluated the production of nickel carbonate with new production techniques.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global nickel carbonate Market
- Historical, Current and Projected Market Size in terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Nickel Carbonate Market Performance
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Nickel Carbonate Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Nickel Carbonate Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Nickel Carbonate Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Customers
4.4 Key Forces Shaping the Nickel Carbonate Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Nickel Carbonate Market Size & Forecast, 2017-2027
4.5.1 Nickel Carbonate Market Size and Y-o-Y Growth
4.5.2 Nickel Carbonate Market Absolute $ Opportunity
4.6 Global Nickel Carbonate Patent Analysis
4.7 Global Nickel Carbonate Pricing Analysis by Type and Region
4.8 Global Nickel Carbonate Market Regulation
Chapter 5 Global Nickel Carbonate Market Analysis and Forecast By Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Type
5.1.2 Basis Point Share (BPS) Analysis By Type
5.1.3 Absolute $ Opportunity Assessment By Type
5.2 Nickel Carbonate Market Size Forecast By Type
5.2.1 Industrial Grade
5.2.2 ACS & Reagent Grade
5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Nickel Carbonate Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Nickel Carbonate Market Size Forecast By Application
6.2.1 Plating
6.2.2 Catalyst
6.2.3 Pigments
6.2.4 Others
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Nickel Carbonate Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Nickel Carbonate Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Nickel Carbonate Analysis and Forecast
9.1 Introduction
9.2 North America Nickel Carbonate Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Nickel Carbonate Market Size Forecast By Type
9.6.1 Industrial Grade
9.6.2 ACS & Reagent Grade
9.7 Basis Point Share (BPS) Analysis By Type
9.8 Absolute $ Opportunity Assessment By Type
9.9 Market Attractiveness Analysis By Type
9.10 North America Nickel Carbonate Market Size Forecast By Application
9.10.1 Plating
9.10.2 Catalyst
9.10.3 Pigments
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis By Application
9.12 Absolute $ Opportunity Assessment By Application
9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Nickel Carbonate Analysis and Forecast
10.1 Introduction
10.2 Europe Nickel Carbonate Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Nickel Carbonate Market Size Forecast By Type
10.6.1 Industrial Grade
10.6.2 ACS & Reagent Grade
10.7 Basis Point Share (BPS) Analysis By Type
10.8 Absolute $ Opportunity Assessment By Type
10.9 Market Attractiveness Analysis By Type
10.10 Europe Nickel Carbonate Market Size Forecast By Application
10.10.1 Plating
10.10.2 Catalyst
10.10.3 Pigments
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Nickel Carbonate Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Nickel Carbonate Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Nickel Carbonate Market Size Forecast By Type
11.6.1 Industrial Grade
11.6.2 ACS & Reagent Grade
11.7 Basis Point Share (BPS) Analysis By Type
11.8 Absolute $ Opportunity Assessment By Type
11.9 Market Attractiveness Analysis By Type
11.10 Asia Pacific Nickel Carbonate Market Size Forecast By Application
11.10.1 Plating
11.10.2 Catalyst
11.10.3 Pigments
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Nickel Carbonate Analysis and Forecast
12.1 Introduction
12.2 Latin America Nickel Carbonate Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Nickel Carbonate Market Size Forecast By Type
12.6.1 Industrial Grade
12.6.2 ACS & Reagent Grade
12.7 Basis Point Share (BPS) Analysis By Type
12.8 Absolute $ Opportunity Assessment By Type
12.9 Market Attractiveness Analysis By Type
12.10 Latin America Nickel Carbonate Market Size Forecast By Application
12.10.1 Plating
12.10.2 Catalyst
12.10.3 Pigments
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Nickel Carbonate Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Nickel Carbonate Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Nickel Carbonate Market Size Forecast By Type
13.6.1 Industrial Grade
13.6.2 ACS & Reagent Grade
13.7 Basis Point Share (BPS) Analysis By Type
13.8 Absolute $ Opportunity Assessment By Type
13.9 Market Attractiveness Analysis By Type
13.10 Middle East & Africa (MEA) Nickel Carbonate Market Size Forecast By Application
13.10.1 Plating
13.10.2 Catalyst
13.10.3 Pigments
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
14.1 Nickel Carbonate Market: Competitive Dashboard
14.2 Global Nickel Carbonate Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 American Elements
14.3.2 Fairsky Industrial Co.,Limited
14.3.3 GFS Chemicals, Inc.
14.3.4 Goel Metachem Pvt. Ltd.
14.3.5 Hunter Chemical, LLC
14.3.6 J.N. Chemical
14.3.7 MetChem
14.3.8 Nile Info (Nile Chemicals)
14.3.9 Norilsk Nickel
14.3.10 SEIDO CHEMICAL INDUSTRY CO., LTD.
14.3.11 Merck KGaA
14.3.12 TAB-PRO LLC.
14.3.13 Thermo Fisher Scientific, Inc.
14.3.14 TIB Chemicals AG
14.3.15 UMA CHEMICALS
14.3.16 Umicore
14.3.17 Vale
14.3.18 Vishnupriya Chemicals Pvt Ltd.