The Nickel Carbonate Market is estimated to be valued at USD 315.0 million in 2025 and is projected to reach USD 543.2 million by 2035, registering a compound annual growth rate (CAGR) of 5.6% over the forecast period.
| Metric | Value |
|---|---|
| Nickel Carbonate Market Estimated Value in (2025 E) | USD 315.0 million |
| Nickel Carbonate Market Forecast Value in (2035 F) | USD 543.2 million |
| Forecast CAGR (2025 to 2035) | 5.6% |
The nickel carbonate market is experiencing steady growth driven by increasing demand for nickel compounds in various industrial applications. Nickel carbonate plays a crucial role as a precursor in the production of nickel metal and nickel-based chemicals. Its use has expanded due to growing requirements in sectors like electroplating, battery manufacturing, and catalyst production.
Industrial developments and stricter environmental regulations have prompted the adoption of high-purity nickel carbonate to ensure product quality and performance. Advancements in refining processes have also improved the availability of nickel carbonate with controlled nickel content, which enhances its effectiveness in specific applications.
Future growth is expected to be fueled by increasing investments in electric vehicle batteries and surface finishing industries. Segmental growth is anticipated to be led by nickel carbonate with less than 38% nickel content and electroplating as the primary application area.
The market is segmented by Ni Content and Application and region. By Ni Content, the market is divided into < 38%, 38% - 42%, 42% - 46%, and > 46%. In terms of Application, the market is classified into Electroplating, Catalysts, Pigments, and Others. Regionally, the market is classified into North America, Latin America, Western Europe, Eastern Europe, Balkan & Baltic Countries, Russia & Belarus, Central Asia, East Asia, South Asia & Pacific, and the Middle East & Africa.
The nickel carbonate segment with less than 38% nickel content is projected to hold 51.6% of the market revenue in 2025, maintaining its position as the leading grade. This segment’s growth is attributed to its suitability for a wide range of applications that require moderate nickel purity but consistent performance.
Lower nickel content carbonate is preferred in processes where cost efficiency and material handling are critical factors. The electroplating industry, in particular, values this grade for its ability to deliver uniform coating quality without excessive nickel concentration.
Additionally, manufacturing processes that incorporate nickel carbonate for chemical synthesis and battery precursor production benefit from the balance between purity and price. As demand for versatile nickel compounds grows, the < 38% nickel content segment is expected to remain dominant in the market.
The electroplating segment is projected to account for 46.9% of the nickel carbonate market revenue in 2025, holding its place as the leading application. Electroplating processes rely heavily on nickel carbonate as a source material for producing nickel coatings that enhance corrosion resistance, wear resistance, and aesthetic appeal.
This application has seen consistent growth driven by its extensive use in automotive parts, electronics, and industrial machinery. Environmental regulations promoting longer-lasting and more durable metal finishes have further increased the reliance on high-quality nickel carbonate in electroplating baths.
The growth of consumer electronics and precision engineering sectors has also contributed to rising demand. With the continuing need for superior surface treatments and protective coatings, the electroplating segment is expected to sustain its market leadership.
The demand for Nickel Carbonate grew at 2.0% CAGR between 2020 and 2024. The extensive surge in consumption of Nickel carbonate for various applications has promoted the demand for Nickel Carbonate over the years. Shifting consumer trends towards glass coloring and rising revenue of the automotive industry are the frontrunner trends benefitting the sales over the historical assessment.
However, various studies are expecting this trend to grow at much higher rates during the forecast period. The consistent rise in production of electric vehicles and notable growth in sales of automobiles from the late 2024 is providing a base for such studies.
Moreover, the emergence of various new applications of nickel carbonate such as corrosion protective coatings, rechargeable batteries, nickel catalysts, and various others is also contributing to propel the market growth above 5.6% CAGR for the 2025 to 2035 period.
Demand for nickel carbonate has grown at notable growth rates over some years and yet it’s demand is in the growing phase which is expected to attain maturity by the end of the forecast period growing at high cagrs in between. A wide spectrum of applications led by electroplating and nickel carbonate catalysts is expected to promote sales.
Rapid industrialization and rising automotive production are creating immense demand for corrosion resistance steel. Nickel carbonate along with zinc is used to develop corrosion resistance in steel and make it suitable to use in such industries. Growth in end-use industries is anticipated to create ample opporutnities in the near future.
The use of electroplating to enhance the aesthetic appeal of electronic components while also safeguarding them has progressively increased. Nickel-based and ABS are becoming more popular, which is lucrative for Nickel Carbonate companies. In the automotive industry, electroplating is increasingly being used to refinish worn chrome elements like grills, bumpers, and tire rims to extend their life and make them seem brand new.
Zinc and zinc-nickel alloy plating are in high demand in the automobile sector for corrosion protection and to improve the appearance of vehicle parts. The premium automotive segment drives demand for Zinc - Nickel plated external parts because of their high efficiency in corrosion and wear resistance along with elegant visual appearance.
Nickel Carbonate is used as a catalyst in a variety of end-use industries. Among them, Oil & Gas industry is the leading consumer of nickel carbonate-based catalysts. They are used for selective hydrogenation of poly-unsaturated compounds produced during steam cracking. Dienes and alkynes are examples of such compounds.
Selective hydrogenation is an important step during the production of fuels and oils. Nowadays, Removal of impurities and providing high-quality fuels is the topmost priority for petrochemical companies across the globe. Consistently growing demand for cleaner fuels is compelling petrochemical providers to use Nickel carbonate which is expected to push the demand graph on the growing side.
The presence of Nickel in the earth’s crust is limited and can only be excavated at certain locations. Expensive operations with advanced technologies are needed to excavate nickel from the earth’s crust which eventually increases its price.
Such a high cost of the production of Nickel results in high pricing of Nickel carbonate compelling manufacturers and end-users to develop new and cost-efficient solutions to enhance their shares in a competitive market. The development of such alternatives is expected to emerge as a key factor shriveling the growth rate of the global nickel carbonate market over the upcoming assessment period of 2025 to 2035.
Germany is expected to hold dominance in European Nickel Carbonate Market. The country is expected to hold around 22% by value in European Market. Germany is well known for its cutting-edge production technologies and advanced manufacturing methods. The country invests huge capital in the development of manufacturing industries in the country.
Moreover, the country also holds one of the leading positions in automotive production owing to which it creates a huge demand for steel used in the automotive industry and other manufacturing every year. Such a vast demand for steel in the country makes it lucrative for Nickel carbonate manufacturers.
Key manufacturers are trying to expand their sales footprints in the country to relish this huge opportunity. However, the presence of local manufacturers with advanced technologies and stringent regulations of government is a longstanding challenge for the entrants trying to penetrate Germany’s Market.
The Nickel Carbonate market in the United States is expected to grow owing to the increasing consumption in the Steel Fabrication industry. The country’s growing demand for corrosion-resistant steel owing to the consistent growth in automotive and constructions sector in the United States is expected to benefit the sales of Nickel Carbonate.
Many companies are focusing on expanding production facilities and strategic partnerships to promote their growth in the country. Americans have high disposable income and the trend of using electric cars is consistently growing in the country. Owing to the substantial applications of Nickel Carbonate in the production of electric vehicles, demand for nickel carbonate is expected to rise over the forecast period.
China has one of the strongest manufacturing industries across the globe. The strong presence of manufacturers and industries in the country coupled with various manufacturer-friendly government policies is promoting manufacturing in China.
The country is well known for the production of a vast spectrum of products. Automotive, Construction, Electronics, and a few others are some of the leading industries in China. This industry creates a huge demand for metals.
Nickel-based electroplating is used to protect metals from corrosion, owing to such a high number of production facilities in the country. China creates immense demand for electroplating solutions and materials. Considering these factors, Future Market Insights is anticipating China to lead the global nickel carbonate market holding a share of about 82.6% by value in East Asia for the year 2025.
Based on Ni Content, Future Market Insights has segmented the Global Nickel Carbonate Market into four leading segments which are Less Than 38%, 38% to 42%, 42% to 46%, and More than 46%. Among the aforementioned segments, 42% to 46% contribute a lion's share in revenue generation of the market followed by More than 46%. The segment is expected to hold a market share of 35.1% by volume in 2025.
Nickel carbonate is used as a source for Nickel in various end-use industries including electroplating which is a leading consumer of nickel carbonate. Owing to this, a high concentration of Nickel in nickel carbonate is preferred by the consumers.
Global Nickel Carbonate Market is dominated by the Electroplating industry. The industry is anticipated to consume more than three-fourths of nickel carbonate produced across the globe. Rapid industrialization and the emergence of advanced manufacturing technologies along with shifting consumer base towards high-performance products are promoting the need for electroplating at never before rates.
Zinc-Nickel plating is one of the most widely accepted and high-performance plating solutions which is getting benefits and ample opportunities owing to the growth in the electroplating industry.
Moreover, the emergence of various applications of nickel carbonate as catalysts is expected to create ample opportunities in the global nickel carbonate market over the upcoming assessment period of 2025 to 2035.
Owing to consistent consumer shift towards high quality products and substantial growth in demand for nickel catalysts is expected to increase the market share of high Nickel containing nickel carbonate. Hence, propelling the BPS of 42% - 46% and Above 46% segments.
Global Nickel Carbonate Market is fairly consolidated with key players holding the majority of shares. Owing to the presence of key players with higher working capital penetration for new entrants in the market are quite difficult. As the investment in research and development for the key players is high, they are attracting a majority of consumers towards them and relish the majority of the opportunity created in the market.
However, small and medium-sized players are engaged in strategic mergers, and collaborations to maintain their positions in the market. Moreover, the key players are also engaged in developing long-term strategic partnerships and supply agreements with end-users to avoid price fluctuations and ensure a continuous supply.
| Attribute | Details |
|---|---|
| Forecast Period | 2025 to 2035 |
| Historical Data Available for | 2020 to 2024 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Ni Content, Applications & Region |
| Key Companies Profiled | American Elements; Liangren Chemicals; Umicore; Reullei; Thermo fischer Scientific; abcr GmbH; Himalaya Industries; Uma Chemicals; Eramet; jinchuan group; Jiangxi Nuclear Industry Xingzhong New Material Co., Ltd; Fairsky Industrial |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global nickel carbonate market is estimated to be valued at USD 315.0 million in 2025.
The market size for the nickel carbonate market is projected to reach USD 543.2 million by 2035.
The nickel carbonate market is expected to grow at a 5.6% CAGR between 2025 and 2035.
The key product types in nickel carbonate market are < 38%, 38% - 42%, 42% - 46% and > 46%.
In terms of application, electroplating segment to command 46.9% share in the nickel carbonate market in 2025.
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Nickel Carbonate Market
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