The global nickel sulfate market, according to a new report published by Transparency Market Research, will experience a dynamic growth during 2017-2025 owing to the increasing demand for plating applications of nickel ion from different end-use industries. The major industry contributing to the growth of the nickel sulfate market is reported to be automobile industry.
Nickel sulfate, an ester or salt of sulfuric acid, is an inorganic crystalline compound formed when metal is replaced by hydrogen. Nickel sulfate with its molecular formula, i.e., NiSO4, is generally obtained in hexahydrate or anhydrous form. Moreover, nickel sulfate is available in three colors: green, blue and yellow.
Although, it has tons of industrial applications, nickel sulfate is popularly used in products for surface treatment of metals. Acting as a chemical intermediate in the manufacturing process of numerous nickel compounds, nickel sulfate is commonly used in printing and dyeing of textiles. Furthermore, nickel sulfate is also used in the production of fertilizers, optical & electronic equipment, machinery, electrical, and vehicles, etc.
The report has segmented the nickel sulfate market, on the basis of grade, into EN grade, high-purity grade, and plating grade. The increasing number of plating applications of nickel ion has driven the demand for electroplating applications. This demand is majorly ascribed to the rising growth of the automotive industry, which employs metals as well as plastic that need plating. This has resulted in plating grade segment dominating the nickel sulfate market in the last few years and the same pattern is expected to follow during the forecast period, reports TMR.
To know more about each segment of the nickel sulfate market and the overall market outlook, click here.
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