Nickel Hydroxide Market Key Trends and Forecast Research Report 2016 – 2022
Nickel Hydroxide, generally used in rechargeable battery electrodes, by oxidation to nickel(III) oxide-hydroxide. Nickel hydroxide is denoted by Ni(OH)2 and is an insoluble chemical compound having strong redox properties.
The mineral form of nickel hydroxide, also known as theophrastite, was first discovered in northern Greece in 1980. Nickel Hydroxide is a translucent emerald-green crystal, formed naturally in thin sheet form near the boundaries of chlorite and idocrase crystals.
Nickel hydroxide has a molecular weight of 92.71 g/mol, having a melting point of 230?C. Nickel hydroxide has two distinct pseudopolymorphs, namely α- and β-Ni(OH)2 forms.
The α structure is made up of Ni(OH)2 layers, having intercalated anions or water molecules between them. The β type is a hexagonal closest-packed structure of OH- and Ni2+ ions, minus any kind of intercalated ions.
Besides the α and β forms of nickel hydroxide, a number of γ-Ni(OH)2 have been described, which are made up of crystal structures having much bigger inter-sheet distances.
The global nickel hydroxide market is projected to register a high growth in demand due to the increasing requirements of nickel hydroxide as electrodes in electrochemical batteries. The long battery life, utmost reliability, and superior performance of the nickel hydroxide based batteries, as compared to the other types of batteries are expected to fuel the growth of the global nickel hydroxide market.
However, the toxicity concerns related to Ni2+ ions are poised to hinder the growth of the global nickel hydroxide market. Additionally, the rising prices of raw materials may hinder the growth of the global nickel hydroxide market over the forecast period.
The global nickel hydroxide market is anticipated to register a favourable growth for the forecast period, 2015-2025. On the basis of geographic regions, global nickel hydroxide market is segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East & Africa.
Among aforementioned regions, Asia Pacific and Latin America have been the fastest growing region during the forecast period 2015-2025.
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In Asia-Pacific, China dominates (driven by strong increases in electrochemical battery usage) the nickel hydroxide market. In past five years, the North America dominates the market, followed by Western Europe.
The remaining regions are expected to grow at a steady rate over the forecast period.
Major players in the global nickel hydroxide market are currently focused on enhancing the product portfolio and enhancing the service offering so as to attract more consumers. Furthermore, companies are currently turning their attention towards the emerging economies of Asia Pacific, MEA and Latin America, as these regions exhibit untapped opportunities.
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