New York, NY -- (SBWIRE) -- 09/01/2017 -- 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.

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.

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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Some of the key players identified in the global nickel hydroxide market are Sigma-Aldrich Co. LLC., Norilsk Nickel, ALT Cobalt & Nickel, Shepherd, Kanssai Catalyst, Supraveni Chemicals, Nippy Chemicals, Jien Nickel, Vale, SMM, Glencore, BHP Billiton , ERAMET, First Quantum, Hard Creek, Henan Kelong, Jinchuan Group, Jiangmen Fangyuan, and The Shepherd Chemical Company, etc., among others.

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