세계의 황산니켈 시장 예측(-2030년) : 형상별, 그레이드별, 용도별, 지역별 분석

According to Stratistics MRC, the Global Nickel Sulfate Market is accounted for $3.4 billion in 2024 and is expected to reach $4.6 billion by 2030 growing at a CAGR of 5.1% during the forecast period. Nickel sulfate is an inorganic compound with the formula NiSO4, typically occurring as a blue or green crystalline solid. It is highly soluble in water and plays a crucial role in various industrial applications. Nickel sulfate is primarily used in the production of nickel-based rechargeable batteries, particularly lithium-ion batteries for electric vehicles and electronics. Additionally, it is widely employed in electroplating, where it provides corrosion resistance to metals.

According to the International Nickel Study Group, world primary nickel usage was 2.963 Mt in 2022 and 3.193 Mt in 2023. The INSG forecasts an increase to 3.445 MT in 2024.

Market Dynamics:

Driver:

Growing demand from battery industry

The rapid expansion of electric vehicle (EV) production and adoption is fueling the need for lithium-ion batteries, where nickel sulfate is a crucial component. Nickel-rich cathodes are preferred for their higher energy density and improved performance. As governments worldwide implement stricter emission regulations and offer incentives for EV adoption, the demand for nickel sulfate in battery production is expected to surge, driving significant market growth.

Restraint:

Volatility in nickel prices

Nickel, the primary raw material for nickel sulfate production, experiences frequent price fluctuations influenced by global demand, supply disruptions, and economic conditions. These price variations impact the overall production costs of nickel sulfate, affecting market dynamics and profitability. Supply constraints, including limited nickel ore reserves and production capacity, further exacerbate market challenges. The uncertainty created by fluctuating prices leads to hesitancy in investment and expansion plans among market players.

Opportunity:

Recycling of nickel for sustainability

As environmental regulations become stricter and awareness of circular economy principles grows, the recycling of nickel from used batteries and industrial waste is gaining traction. Recycling not only addresses environmental concerns associated with nickel mining but also provides a steady supply of raw material, mitigating risks of price volatility. This approach aligns with the global push towards sustainable practices in the battery industry and offers potential for market expansion.

Threat:

Environmental opposition

Environmental opposition poses a threat to the nickel sulfate market, particularly concerning the production methods and their environmental impact. The energy-intensive processes involved in nickel sulfate production, especially when derived from nickel pig iron (NPI) or ferronickel, have raised concerns about carbon emissions and environmental sustainability. This opposition could lead to stricter regulations, increased production costs, or reduced acceptance of certain nickel sulfate sources by environmentally conscious manufacturers and consumers.

Covid-19 Impact:

The COVID-19 pandemic initially disrupted the nickel sulfate market, causing supply chain issues and reduced demand due to slowdowns in industrial activities. However, it also accelerated the shift towards sustainable transportation, with many governments incorporating EV infrastructure development into economic recovery plans. As economies recover and industries resume operations, the nickel sulfate market is experiencing a gradual recovery, supported by increasing demand for electric vehicles and a growing focus on battery technologies.

The heptahydrate segment is expected to be the largest during the forecast period

Over the forecasted timeframe, the lithium-ion (Li-Ion) batteries segment is anticipated to dominate the market share. This dominance is driven by the rapid growth of the electric vehicle market and increasing adoption of energy storage systems. Nickel sulfate is a critical component in the production of nickel-rich cathodes for Li-Ion batteries, which offer higher energy density and improved performance. The ongoing advancements in battery technology, coupled with increasing investments in EV infrastructure and supportive government policies, are expected to bolster the demand for nickel sulfate in this segment.

The high-purity grade segment is expected to have the highest CAGR during the forecast period

During the projection period, the high-purity grade segment is expected to grow at the highest CAGR. This rapid growth is attributed to the increasing demand for high-quality nickel sulfate in advanced battery technologies, particularly for electric vehicles. High-purity nickel sulfate is essential for producing high-performance cathode materials that enhance battery efficiency, longevity, and overall performance. As battery manufacturers strive to improve energy density and reduce costs, the demand for high-purity nickel sulfate is expected to surge, driving significant growth in this segment.

Region with largest share:

During the estimation period, the Asia Pacific region is expected to capture the largest market share. This dominance is primarily driven by China's massive EV market and supportive government policies across the region. Countries like Japan, South Korea, and India are also rapidly expanding their EV production and adoption. The high population density, urbanization, and increasing environmental awareness in Asia Pacific contribute to the strong demand for electric vehicles and, consequently, nickel sulfate. Significant investments in battery manufacturing and the presence of major nickel producers further solidify the region's leading position in the market.

Region with highest CAGR:

The Asia Pacific region is projected to achieve the highest CAGR during the forecast period. This rapid growth is fueled by aggressive government targets for EV adoption, substantial investments in battery technology, and the presence of major automotive and battery manufacturers in the region. Countries like China are setting ambitious goals for expanding their EV market, while emerging economies such as India and Southeast Asian nations are ramping up their efforts to electrify transportation. The region's fast-paced technological advancements and increasing urbanization are expected to drive continued high growth in the nickel sulfate market.

Key players in the market

Some of the key players in Nickel Sulfate Market include BHP Group, Vale S.A., Norilsk Nickel, Glencore International AG, Jinchuan Group International Resources Co. Ltd., Sumitomo Metal Mining Co. Ltd., Shandong Xinhai Technology Co. Ltd., China Molybdenum Co. Ltd., Eramet S.A., KGHM Polska Miedz S.A., Metallo-Chimique Group, Nornickel, Anglo American plc, Tsingshan Holding Group, Umicore, SMM Nickel, Alliance Nickel Ltd, and Shaanxi Jincheng Group.

Key Developments:

In April 2023, Stellantis N.V. and Alliance Nickel Ltd (formerly GME Resources) announced the signing of a binding offtake agreement for the supply of 170,000 tons of nickel sulphate and 12,000 tons of cobalt sulphate in total over an initial five-year period. This represents approximately 40% of forecast annual production of the NiWest Nickel-Cobalt Project in Western Australia. Pricing for the nickel and cobalt sulphate is linked to index prices.

In November 2022, Vale Canada Limited, a subsidiary of Vale, and General Motors Co., announced they have signed a term sheet for the long-term supply of battery grade nickel sulfate from Vale's proposed plant at Becancour, Quebec, Canada. This agreement secures for GM a supply of nickel sulfate from a U.S. free-trade partner to support its fast-growing EV production needs in North America. Under terms of the agreement, Vale will supply battery grade nickel sulfate, equivalent to 25,000 metric tons per year of contained nickel, for use in GM's Ultium battery cathodes, which will power a broad portfolio of electric vehicles including the Chevrolet Silverado EV, Blazer EV and Equinox EV, the Cadillac LYRIQ, the GMC Sierra EV, and the GMC HUMMER EV Pickup and SUV. The amount of contained nickel is sufficient to supply approximately 350,000 EVs annually.

Forms Covered:

• Anhydrous
• Heptahydrate
• Hexahydrate

Grades Covered:

• EN Grade
• Plating Grade
• High-Purity Grade

Applications Covered:

• Electroplating
• Batteries
• Chemical Processing
• Catalysis
• Pigments
• Dyeing and Printing
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 Emerging Markets
• 3.8 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Nickel Sulfate Market, By Form

• 5.1 Introduction
• 5.2 Anhydrous
• 5.3 Heptahydrate
• 5.4 Hexahydrate

6 Global Nickel Sulfate Market, By Grade

• 6.1 Introduction
• 6.2 EN Grade
• 6.3 Plating Grade
• 6.4 High-Purity Grade

7 Global Nickel Sulfate Market, By Application

• 7.1 Introduction
• 7.2 Electroplating
• 7.3 Batteries
• 7.4 Chemical Processing
• 7.5 Catalysis
• 7.6 Pigments
• 7.7 Dyeing and Printing
• 7.8 Other Applications

8 Global Nickel Sulfate Market, By Geography

• 8.1 Introduction
• 8.2 North America
  • 8.2.1 US
  • 8.2.2 Canada
  • 8.2.3 Mexico
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 UK
  • 8.3.3 Italy
  • 8.3.4 France
  • 8.3.5 Spain
  • 8.3.6 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 Japan
  • 8.4.2 China
  • 8.4.3 India
  • 8.4.4 Australia
  • 8.4.5 New Zealand
  • 8.4.6 South Korea
  • 8.4.7 Rest of Asia Pacific
• 8.5 South America
  • 8.5.1 Argentina
  • 8.5.2 Brazil
  • 8.5.3 Chile
  • 8.5.4 Rest of South America
• 8.6 Middle East & Africa
  • 8.6.1 Saudi Arabia
  • 8.6.2 UAE
  • 8.6.3 Qatar
  • 8.6.4 South Africa
  • 8.6.5 Rest of Middle East & Africa

9 Key Developments

• 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 9.2 Acquisitions & Mergers
• 9.3 New Product Launch
• 9.4 Expansions
• 9.5 Other Key Strategies

10 Company Profiling

• 10.1 BHP Group
• 10.2 Vale S.A.
• 10.3 Norilsk Nickel
• 10.4 Glencore International AG
• 10.5 Jinchuan Group International Resources Co. Ltd.
• 10.6 Sumitomo Metal Mining Co. Ltd.
• 10.7 Shandong Xinhai Technology Co. Ltd.
• 10.8 China Molybdenum Co. Ltd.
• 10.9 Eramet S.A.
• 10.10 KGHM Polska Miedz S.A.
• 10.11 Metallo-Chimique Group
• 10.12 Nornickel
• 10.13 Anglo American plc
• 10.14 Tsingshan Holding Group
• 10.15 Umicore
• 10.16 SMM Nickel
• 10.17 Alliance Nickel Ltd
• 10.18 Shaanxi Jincheng Group