According to a report published by Transparency Market Research, the global nickel sulfate market will grow exceptionally during 2017 to 2025 owing to the rising demand for electroplating applications. Furthermore, the metal surface treatment segment will account for the major share of the nickel sulfate market during the forecast period, says report.
Nickel sulfate is mostly used in products for surface treatment of metals. Additionally, it is used as chemical intermediate in the manufacturing process of various nickel compounds. These compounds are further used in printing and dyeing of textiles. Moreover, nickel sulfate has various applications such as fertilizers, optical, electrical, electronic equipment, vehicles and machinery. Forestry, agriculture and fisheries are some of the major end-use industries that use nickel sulfate.
The report has segmented the nickel sulfate market into chemical, metal surface treatment, batter being the major applications. The other segment incorporate production of fertilizers, machinery, and automotive equipment. Presently, the nickel sulfate market is dominated by the metal surface treatment segment and the same pattern is expected to follow during the forecast timeframe. Comprising electrolytic and electroless plating, the metal surface treatment segment is expected to account for significant share of the nickel sulfate market.
Furthermore, nickel sulfate is also used in plating on plastics as well as metals. Plated metals and plated plastics play an imperative role in almost all production processes carried out across the world. Automotive industry also has huge demand for these plastics and metals. Therefore, the report asserts, the nickel sulfate industry will experience a significant growth during the forecast period as the demand for electroplating applications is expected to increase.
To know more about each segment of the nickel sulfate market and the overall market outlook, click here.
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