Nickel Chloride Market
The market for Nickel Chloride was estimated at $589 million in 2024; it is anticipated to increase to $914 million by 2030, with projections indicating growth to around $1.32 billion by 2035.
Report Summary
Market Data
Methodology
Table of Contents
Global Nickel Chloride Market Outlook
Revenue, 2024
$589M
Forecast, 2034
$1.23B
CAGR, 2025 - 2034
7.6%
The Nickel Chloride industry revenue is expected to be around $633.7 million in 2025 and expected to showcase growth with 7.6% CAGR between 2025 and 2034. The strong upward trend in the Nickel chloride market is influenced by a variety of factors. The importance of this chemical in industrial settings and its growing usage in new technologies highlights its continued relevance. Its applications in electroplating and as a catalyst in synthesis are key drivers behind the markets growth. Moreover the increasing technological progress and the growing demand for high performance materials across different industries play a crucial role, in pushing the market ahead.
Nickel chloride is a chemical compound that offers distinctive qualities essential in a wide range of industries due to its notable solubility in water as well as alcohol and ammonia-this characteristic sets it apart for various applications across different sectors. It plays a role in electroplating by providing an effective source of nickel ions while also being extensively utilized in manufacturing other nickel based compounds and as a catalyst, in organic synthesis processes.
Market Key Insights
- The Nickel Chloride market is projected to grow from $588.9 million in 2024 to $1.23 billion in 2034. This represents a CAGR of 7.6%, reflecting rising demand across Electroplating, Textile Industry and Catalyst Preparation.
- Sigma-Aldrich, Thermo Fisher Scientific, Merck KGaA are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Nickel Chloride market and are expected to observe the growth CAGR of 4.9% to 7.3% between 2024 and 2030.
- Emerging markets including Vietnam, Brazil and South Africa are expected to observe highest growth with CAGR ranging between 8.7% to 10.5%.
- Transition like Shift Towards Green Chemistry is expected to add $31 million to the Nickel Chloride market growth by 2030.
- The Nickel Chloride market is set to add $636 million between 2024 and 2034, with manufacturer targeting Electroplating & Agriculture End-Users projected to gain a larger market share.
- With
increasing demand in electroplating industry, and
advancements in battery technology, Nickel Chloride market to expand 108% between 2024 and 2034.
Opportunities in the Nickel Chloride
The ongoing development and growth of the sector present a new opportunity for Nickel chloride to shine bright in the field of medicine and healthcare products. This chemical plays a role in multiple pharmaceutical uses such as acting as a catalyst, in the production of organic compounds.
Growth Opportunities in North America and Asia-Pacific
North America, with its advanced industrial sector and high demand for nickel chloride in various applications, presents significant opportunities. The regions market is characterized by the presence of several key players, fostering a competitive environment. The primary drivers in this region include the growing electronics industry, where nickel chloride is used in electroplating and battery manufacturing, and an increasing focus on wastewater treatment, where it serves as a precipitant. The chemical sectors continuous expansion, particularly in the United States, further propels the demand for nickel chloride. However, stringent environmental regulations could pose a challenge to market growth.
The Asia-Pacific region is witnessing a surge in demand for nickel chloride, primarily driven by its increasing use in the burgeoning electronics and electroplating industries, particularly in China, South Korea, and Japan. The regions robust industrial growth, coupled with the expanding battery manufacturing sector, contributes significantly to the markets expansion. The presence of numerous manufacturers intensifies competition, but also creates opportunities for strategic partnerships and collaborations. Despite the positive outlook, potential regulatory changes and environmental concerns could impact the market dynamics.
Market Dynamics and Supply Chain
01
Driver: Increasing Demand in Electroplating Industry, and Rise in Nickel Alloy Production
The electroplating sector has also seen a rise in the need for Nickel chloride because of its resistance to corrosion and attractive appearance qualities. This substance is also commonly utilized in electroplating procedures to add an visually pleasing layer, to different metal goods, which in turn boosts its market expansion. Nickel chloride is also extensively used in the production of nickel alloys, which are also known for their exceptional resistance to heat and corrosion. The increasing demand for these alloys in various industries, including aerospace, automotive, and oil & gas, is also expected to drive the Nickel chloride market in the coming years.
Nickel chloride plays a role in creating rechargeable batteries like nickel cadmium and nickel metal hydride ones which are also essential for electric vehicles and portable electronic gadgets as the need, for these technologies grows significantly.
02
Restraint: Environmental and Health Concerns
Nickel chloride is recognized for its risks to the environment and human health by various environmental protection agencies globally that regulate its usage and disposal strictly—an aspect that may hinder its market expansion opportunities significantly. Continuous exposure to Nickel chloride is linked to health concerns such as skin irritation and respiratory complications which can discourage industries from utilizing it and consequently lower its demand, in the market.
03
Opportunity: Technological Advancements in Battery Manufacturing and Expanding Applications in Electroplating
The battery industry is experiencing technological progressions that are opening up new opportunities for Nickel chloride usage in the manufacturing sector of Nickel Cadmium and Nickel Metal Hydride batteries distinguished for their strong energy capacity and long life expectancy; this surge in demand is primarily driven by the escalating incorporation of electric vehicles and sustainable energy setups prompting a growing necessity, for reliable and long lasting batteries utilizing Nickel chloride in this field.
Nickel chloride is becoming more common in electroplating due to its versatility as a chemical compound. As the electroplating sector expands to meet the demand for visually appealing finishes that resist corrosion Nickel chloride finds a solid market footing with its distinct qualities like solubility and stability. These properties make it a prime candidate, for enhancing both the longevity and look of products through electroplating processes.
04
Challenge: High Production Costs
The production of Nickel chloride involves complex processes that require advanced machinery and skilled labor. These factors contribute to high production costs, which can be a significant barrier to market expansion. Industries might opt for cheaper alternatives, affecting the market dynamics of Nickel chloride.
Supply Chain Landscape
1
Raw Material Extraction
ValeGlencore
2
Production
Sigma-AldrichThermo Fisher Scientific
3
Distribution & Wholesale
Merck KGaAFisher Scientific
4
End User Industry
PharmaceuticalElectroplatingChemical Synthesis
1
Raw Material Extraction
ValeGlencore
2
Production
Sigma-AldrichThermo Fisher Scientific
3
Distribution & Wholesale
Merck KGaAFisher Scientific
4
End User Industry
PharmaceuticalElectroplatingChemical Synthesis
Use Cases of Nickel Chloride in Electroplating & Textile Industry
Electroplating : Nickel chloride is extensively used in the electroplating industry. This application primarily utilizes anhydrous Nickel chloride due to its ability to form a smooth and even layer of Nickel on the metal surface. The unique advantage of this application is the creation of corrosion-resistant and aesthetically pleasing metal surfaces. Major players in this sector include Atotech and Advanced Plating Technologies, both renowned for their innovative solutions and strong market position.
Catalyst Preparation : Nickel chloride serves as a significant component in the preparation of catalysts. Hydrated Nickel chloride is mostly used in this application due to its high reactivity. The advantage of using Nickel chloride in catalyst preparation is its ability to accelerate chemical reactions, thereby enhancing the efficiency of industrial processes. Top players in this field include BASF and Johnson Matthey, known for their high-quality catalysts and dominant market presence.
Textile Industry : In the textile industry, Nickel chloride is used as a mordant in dyeing processes. The hexahydrate form of Nickel chloride is commonly used in this application for its ability to form stable complexes with dyes, ensuring vibrant and long-lasting colors. Key players in this sector include Huntsman Corporation and Archroma, both recognized for their innovative textile solutions and strong market standing.
Recent Developments
Nickel chloride, a versatile compound with significant industrial applications, has been experiencing notable market developments recently. This inorganic compound, often used in electroplating and organic synthesis, is witnessing increased demand due to its wide-ranging applications in various industries.
December 2024 : Global chemical manufacturer, BASF, announced a new production line for Nickel chloride, aimed at meeting the increased demand in the battery industry
October 2024 : Sigma-Aldrich, a leading provider of Nickel chloride, launched a new high-purity product line specifically designed for use in electroplating technologies
August 2024 : Thermo Fisher Scientific, a key player in the Nickel chloride market, initiated a strategic partnership with Tesla for the supply of Nickel chloride, a critical component in the manufacturing of electric vehicle batteries.
Impact of Industry Transitions on the Nickel Chloride Market
As a core segment of the Intermediate Chemicals industry,
the Nickel Chloride market develops in line with broader industry shifts.
Over recent years, transitions such as Shift Towards Green Chemistry and Advancements in Nanotechnology have redefined priorities
across the Intermediate Chemicals sector,
influencing how the Nickel Chloride market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Shift Towards Green Chemistry
The chemical industry has been witnessing a significant transition towards green chemistry, and Nickel chloride is no exception. This transition is driven by the increasing environmental concerns and stringent regulations imposed by various governments. Nickel chloride, traditionally used in electroplating and as a catalyst in chemical reactions, is now being explored for its potential in green chemistry. For instance, its use in the production of eco-friendly batteries and renewable energy technologies is gaining momentum. This transition not only reduces the environmental impact but also opens up new market opportunities for Nickel chloride.
02
Advancements in Nanotechnology
Another key transition in the Nickel chloride industry is the integration of nanotechnology. With advancements in nanotechnology, Nickel chloride is being used in the synthesis of nickel nanoparticles, which have a wide range of applications in various industries such as electronics, medicine, and energy. This transition has led to the expansion of the Nickel chloride market and has significantly impacted the associated industries by providing innovative solutions.