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Nickel sulfate, an inorganic crystalline compound, is an ester or salt of sulfuric acid formed by replacing hydrogen with metal. Its molecular formula is NiSO4. Nickel sulfate is usually obtained in anhydrous or hexahydrate form. It is usually available in three colors: yellow, green, and blue. It is moderately soluble in water and acid. Nickel sulfate is widely used in products for surface treatment of metals. It is also used as a chemical intermediate in the manufacturing process of other nickel compounds, which can be used in printing and dyeing of textiles. Nickel sulfate is also employed in the production of fertilizers, electrical, optical, & electronic equipment, machinery, and vehicles, etc. End-user industries that utilize nickel sulfate include forestry, fisheries, and agriculture. Several health and environmental hazards are associated with nickel sulfate. It produces toxic gases when heated. Exposure to nickel sulfate may lead to several skin allergies, dermatitis, and breathing disorders. Increase in exposure to nickel sulfate may also affect lungs, kidneys, gastrointestinal tract, and the neurological system. It is a possible carcinogen and may lead to nasal and lung cancers. As a result, upon release in the environment, immediate steps should be taken to limit it from spreading. This has given rise to the need for substitutes for nickel sulfate.

In terms of grade, the nickel sulfate market can be segmented into EN grade, plating grade, and high-purity grade. Demand for electroplating applications has been rising constantly due to the increase in demand for plating applications of nickel ion. This is majorly driven by the growth of the automotive industry, which employs plastics as well as metals that require plating. Thus, the plating grade segment dominates the nickel sulfate market. This trend is estimated to continue during the forecast period.

In terms of application, the nickel sulfate market can be split into metal surface treatment, chemical industry, battery, and others. The others segment includes production of fertilizers, electrical and automotive equipment, and machinery. Currently, the metal surface treatment segment leads the market. It comprises electrolytic as well as electroless plating. The metal surface treatment segment is anticipated to dominate the market during the forecast period. It is projected to expand at a steady pace in the near future. Nickel can be used for plating on plastics as well as metals. Plated plastics as well as plated metals form an integral part of almost all production processes that are carried out across the world. They also play an important role in the automotive industry. Thus, demand for electroplating applications is anticipated to rise due to the expansion of various end-user industries employing plated metals and plastics. 

In terms of geography, Asia Pacific is likely to lead the nickel sulfate market owing to the growth of automotive and chemicals industries in the region. Rapid industrial and economic development has led to significant changes in standard of living of the people in developing countries such as China and India. Furthermore, there has been a rise in disposable income of the people in these countries. This is driving the demand for automobiles in the region. Of late, various automobile manufacturing companies have shifted their production and assembly plants to countries such as China, India, Vietnam, and Indonesia to make use of the cost-effective labor and low-cost land, and cater to the growth in the market in the region. This is driving the demand for several applications of nickel sulfate, thereby boosting the demand for nickel sulfate.

Major players operating in the global market include American Elements, Sumitomo Metal Mining Co., Ltd., Green Eco-Manufacturer, Jilin Jien Nickel Industry, Tinchem Enterprises, Jinco Nonferrous, Huaze Cobalt & Nickel, Zenith, Umicore, and Univertical.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Nickel Sulfate Market

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