The Global was valued at USD 1.24 Billion in 2024 and is projected to reach USD 2.07 Billion by 2030 growing at a Compound Annual Growth Rate (CAGR) of 8.9% during the forecast period (2024-2030). This growth is driven by surging demand for rechargeable batteries from electric vehicles (EVs) consumer electronics and renewable energy storage applications.
As industries shift toward sustainable energy solutions nickel hydroxide has become a critical material in nickel-based battery chemistries. In this report we analyze the Top 10 Companies in the Nickel Hydroxide Industry—key producers technology innovators and strategic players shaping the future of energy storage.
🔟 1. Norilsk Nickel
Headquarters: Moscow Russia
Key Offering: High-purity nickel hydroxide for Li-ion and NiMH batteries
Norilsk Nickel (Nornickel) is the world’s largest producer of refined nickel and a dominant supplier of battery-grade nickel hydroxide. The company leverages its vertically integrated nickel mining and refining operations to serve global battery manufacturers.
Technological Capabilities:
Produces 220000+ metric tons of nickel annually
Strategic focus on battery material supply chains
Investments in low-carbon nickel production technology
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9️⃣ 2. Umicore
Headquarters: Brussels Belgium
Key Offering: Nickel hydroxide powders and precursors for Li-ion cathodes
Umicore is a global materials technology leader specializing in battery materials recycling and catalysis. Their nickel hydroxide products are widely used in lithium-ion batteries for automotive and industrial applications.
Technological Capabilities:
Closed-loop battery material recycling system
Patented coating technology for enhanced battery performance
Expanding production capacity in Europe and Asia
8️⃣ 3. Sumitomo Metal Mining
Headquarters: Tokyo Japan
Key Offering: High-density nickel hydroxide for alkaline and lithium batteries
Sumitomo Metal Mining (SMM) is a leading Japanese producer of battery materials supplying nickel hydroxide to global battery cell manufacturers. The company operates advanced material synthesis facilities across Asia.
Technological Capabilities:
Proprietary spherical nickel hydroxide production process
Strategic partnerships with Panasonic and other battery makers
R&D focus on next-generation battery materials
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7️⃣ 4. Tanaka Chemical Corporation
Headquarters: Fukui Japan
Key Offering: Nickel hydroxide for NiMH batteries and specialty applications
Tanaka Chemical specializes in high-performance nickel hydroxide formulations particularly for the Japanese battery market. The company supplies major battery manufacturers in consumer electronics and hybrid vehicles.
Technological Capabilities:
Nano-structured nickel hydroxide production
Customized formulations for specific battery chemistries
ISO-certified quality control system
6️⃣ 5. Jinchuan Group
Headquarters: Jinchang China
Key Offering: Industrial-grade and battery-grade nickel hydroxide
Jinchuan Group is China’s largest nickel producer and a key supplier of nickel hydroxide to domestic battery manufacturers. The company is expanding its battery material production to meet growing EV demand.
Technological Capabilities:
Annual nickel production capacity exceeding 150000 tons
Vertical integration from mining to battery materials
Strategic focus on Chinese battery supply chain
5️⃣ 6. GEM Co. Ltd
Headquarters: Shenzhen China
Key Offering: Recycled nickel hydroxide from spent batteries
GEM is a pioneer in battery material recycling recovering nickel hydroxide from end-of-life lithium-ion and nickel-metal hydride batteries. The company operates the world’s largest battery recycling facility in China.
Technological Capabilities:
Closed-loop battery material recovery system
Annual recycling capacity of 50000+ tons of spent batteries
Strategic partnerships with global automakers
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4️⃣ 7. Chancsun Umicore Shanshan Advanced Materials
Headquarters: Changsha China
Key Offering: Nickel-rich cathode precursors for Li-ion batteries
This joint venture between Umicore and Shanshan combines European technology with Chinese production scale to serve the Asian battery market. Their nickel hydroxide products are optimized for high-nickel NMC battery chemistries.
Technological Capabilities:
Advanced coprecipitation technology for uniform particle distribution
Annual production capacity of 100000+ tons
Focus on next-generation high-nickel NCA and NCM formulations
3️⃣ 8. CNGR Advanced Materials
Headquarters: Zhuzhou China
Key Offering: Nickel hydroxide precursors for EV batteries
CNGR is a fast-growing Chinese producer of battery materials supplying nickel hydroxide to major cell manufacturers. The company has expanded rapidly to meet domestic battery demand.
Technological Capabilities:
Advanced hydrothermal synthesis technology
Strategic partnerships with CATL and other battery giants
Expanding production capacity in Europe and Southeast Asia
2️⃣ 9. BHP Nickel West
Headquarters: Perth Australia
Key Offering: Nickel sulfate and hydroxide from Australian mines
BHP’s Nickel West operations supply battery-grade nickel products to global markets with increasing focus on battery supply chains. The company is investing in downstream processing to produce premium nickel hydroxide.
Technological Capabilities:
Integrated nickel mining and refining operations
Low-carbon nickel production initiatives
Strategic partnerships with Tesla and other EV manufacturers
1️⃣ 10. Kansai Catalyst
Headquarters: Osaka Japan
Key Offering: High-purity nickel hydroxide for specialty applications
Kansai Catalyst produces specialized nickel hydroxide formulations for niche battery applications including aerospace and medical devices. The company focuses on premium-quality products with strict purity requirements.
Technological Capabilities:
Ultra-high purity production processes
Custom formulations for specialized battery chemistries
Strong R&D focus on next-generation energy storage
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🌍 Outlook: The Future of Nickel Hydroxide in Energy Storage
The nickel hydroxide market is undergoing significant transformation as global electrification accelerates. While traditional applications in nickel-metal hydride batteries continue the growth driver is clearly shifting toward lithium-ion battery cathodes for electric vehicles.
📈 Key Trends Shaping the Market:
Rapid EV adoption driving demand for high-nickel cathode formulations
Increasing nickel content in NMC batteries to boost energy density
Growing focus on sustainable and recycled nickel sources
Technological innovations in nickel hydroxide particle engineering
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The companies profiled above are at the forefront of powering the global energy transition providing critical materials for the batteries that will drive electrification across industries.
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