Global Nickel Carbonate Market Anticipated to Reach USD 2,81,695.3 Thousand by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Nickel Carbonate Market by Type, Application and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 219,744.5 Thousand in 2019 and is expected to grow at a moderate growth rate of 3.9% by the year 2027. The global nickel carbonate market is anticipated to grow owing to the increasing utilization of nickel carbonate in electrical & electronics’, automotive, ceramics, and glass industries. This is anticipated to increasing demand for global nickel carbonate market during the forecast period.

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The global nickel carbonate market is fragmented based on type, application, and region. In terms of type, the market is segmented into industrial grade, and ACS & reagent grade. Based on application, the market is classified as plating, catalyst, pigments, and others. On the basis of region, the global nickel carbonate market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, and Rest of Asia Pacific. The Europe region is further categorized into Germany, France, Italy, U.K., Spain, Russia, CIS, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of MEA.

In year 2020, the nickel carbonate market is witnessing downtrend owing to the negative impact of COVID 19 pandemic. The COVID-19 pandemic has a rapid and serious impact on the global nickel carbonate market, which has increased the risk of shortages of goods and labor. Moreover, the pandemic situation has led to the closure of several businesses reducing the demand in the world, which in turn, is impeding the various industry. The decrease in the supply chain of raw materials has impacted the growth of the nickel carbonate market. The slowdown in the production of its raw materials have given rise to supply chain disruption in the nickel carbonate market. Many countries have closed their national borders and have enforced lockdowns since January 2020, which in turn, is hindering the market growth. The pandemic has hampered the manufacturing sector and economies globally. There is no clarity on the deeper effects has been assessed to date.

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As per GMR industry analyst Partha, “The global nickel carbonate market is anticipated to witness significant growth during forecast period 2020-2027, owing to its varied use in several end use industries. It is widely used in electroplating. Demand for nickel carbonate is increasing as a neutralizing agent. The industrial grade segment, plating segments are the most attractive segments in the market and are expected to grow at a significant CAGR during the forecast period.

Key Takeaways from the Study:

• The players operating in the market are Vale, Norilsk Nickel, SEIDO CHEMICAL INDUSTRY CO., LTD., American Elements, Fairsky Industrial Co.,Limited, GFS Chemicals, Inc., Goel Metachem Pvt. Ltd., Hunter Chemical, LLC, J.N. Chemical, MetChem, Nile Info (Nile Chemicals), , Merck KGaA, TAB-PRO LLC., Thermo Fisher Scientific, Inc., TIB Chemicals AG, UMA CHEMICALS, Umicore, Vishnupriya Chemicals Pvt Ltd.
• The Asia Pacific region dominated the global market in 2019 with a share of over 70.0%. Owing to increasing demand for nickel carbonate by several budding small and medium scale industries in China, India & Japan.
• The industrial grade segment is expected to be most attractive segment during forecast period. Industrial grade nickel carbonate is mostly used as a catalysts and as a nickel salt of raw materials. Moreover, it is used in the ceramics industry as a coloring agent and pH-adjusting agent. This is one of the major factors making this segment the most attractive during forecast period.
• Growing applications in plating makes it most attractive segment during forecast period. Increasing application of nickel carbonate for numerous applications in industries such as automotive, electronics, glass, paints, makes this segment most attractive during forecast period.

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Report Scope:

Target Audience:

• Supply-side: Nickel carbonate manufacturers, raw material suppliers, distributors
• Demand Side: The glass industry, the automotive industry, the ceramic industry
• Regulatory Side: Environmental Protection Agency (EPA), European Chemicals Agency (ECHA), Safe Chemicals Act (SCA), Chemical Safety Improvement Act (CSIA), Chemical Facility Anti-Terrorism Standards (CFATS), Concerned government authorities, and other regulatory bodies
• Associations and Industry Bodies: Restriction of Hazardous Substances (RoHS), Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), The European Union’s Waste Electronics and Electrical Equipment (WEEE), Occupational Safety and Health Administration (OSHA), Conflict Minerals Act (CMA), Toxic Substances Control Act (TSCA), American Chemistry Council (ACC)

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