Nickel oxide is an inorganic substance with the chemical formula NiO. It is a green to black-green cubic crystalline powder that turns yellow when overheated. Its relative density is 6.67, melting point is 1984 ℃, soluble in acid and ammonia water, and insoluble in water and liquid ammonia.
Overview of Market Development and Analysis of Downstream Application Patterns
In recent years, the global nickel oxide market has experienced both supply and demand. On the one hand, with the rapid development of industries such as new energy and new materials, the demand for nickel oxide as a key raw material continues to grow; On the other hand, with the continuous progress of production technology and the gradual release of production capacity, the supply of nickel oxide is also steadily increasing.
According to our research data, the total global consumption of nickel oxide in 2023 was 11911 tons, with a market size of $171 million. In the coming years, with the continuous development of industries such as new energy and new materials, the continuous progress of production technology, the increase of research and development investment, and the further expansion of application fields, the market is expected to continue to steadily expand. It is expected that by 2028, the global nickel oxide market size will increase to $219 million.
From the perspective of downstream application patterns, nickel oxide, as an important inorganic chemical raw material, is widely used in various fields such as ceramics & glass, batteries, catalysts, metallurgy, semiconductors, and magnetic materials. Among them, the ceramic & glass field is the largest downstream application market, with an application share of 39.18% in 2023.
Global Nickel Oxide Market Size Forecast and Market Share by Application
Source: www.globalmarketmonitor.com
Regional Distribution Analysis
The global nickel oxide market is mainly concentrated in regions such as Asia, Europe, and North America. Among them, the Asian region is the world's largest consumer market for nickel oxide, with a market share of over 50%. From a national perspective, China, as the world's largest producer and consumer of nickel oxide, occupies a dominant position in the market. According to our data, the consumption of nickel oxide in China in 2023 was 4584 tons, accounting for 38.49% of the global total consumption. In addition, countries such as Japan, South Korea, and India also occupy important positions in the nickel oxide market. In Europe and North America, countries such as Germany and the US have a high level of expertise in nickel oxide production and technological research and development.
It is expected that in the coming years, with the recovery of the global economy and the rapid development of the new energy industry, the nickel oxide market in the Asian region will continue to maintain a leading position; Meanwhile, the markets in Europe and North America will also maintain stable growth.
Global Nickel Oxide Consumption and Proportion by
Region/Country in 2023
|
Regions/Countries
|
Consumption (Tons)
|
Proportion
|
|
North America
|
2022
|
16.98%
|
|
Europe
|
2119
|
17.79%
|
|
China
|
4584
|
38.49%
|
|
Japan
|
675
|
5.67%
|
|
India
|
832
|
6.99%
|
|
South America
|
554
|
4.65%
|
|
Middle East & Africa
|
652
|
5.47%
|
Source:
www.globalmarketmonitor.com
For more industry information, please refer to our latest released "2023 Global Nickel oxide Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".
Chinese