Nickel Sulfate for EV Battery Market Share Driven by Rising High-Nickel Cathode Adoption | Valuates Reports

Nickel Sulfate for EV Battery Market Size
The global market for Nickel Sulfate for EV Battery was valued at US$ 2607 million in the year 2024 and is projected to reach a revised size of US$ 5025 million by 2031, growing at a CAGR of 10.0% during the forecast period.

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The Nickel Sulfate for EV Battery Market is expanding rapidly as electric vehicle technologies increasingly rely on high-nickel cathode chemistries to boost energy density and driving range. Nickel sulfate, a key precursor in NCM and NCA cathode production, is benefiting from strong market trends toward longer-range EVs, improved battery efficiency, and advanced material purity standards. The market size continues to grow as global automakers and battery manufacturers increase investment in nickel-rich battery platforms to meet accelerating electrification goals and evolving consumer expectations.

By type, crystal powder holds the largest market share, supported by its broad use in the production of high-performance cathode materials where stability, consistency, and purity are essential. The solution segment is gaining market growth momentum due to its compatibility with modern precursor production lines and the efficiencies it offers in large-scale cathode material synthesis. Both formats remain integral to the evolving battery supply chain and contribute significantly to the overall market forecast.

Based on application, BEVs account for the dominant share of nickel sulfate consumption, driven by the industry's transition to long-range battery designs that require higher nickel content. The PHEV segment continues to grow steadily as automakers upgrade hybrid models with more energy-dense batteries. Other applications, including energy storage and specialty batteries, further support the expanding demand for battery-grade nickel sulfate as electrification broadens across transportation and industrial sectors.

Leading companies in the market include Sumitomo Metal Mining, Jinchuan Group, KEMCO (Korea Zinc), MCC Ramu New Energy Technology, Guangxi Yinyi Advanced Material, and Ji En Nickel Industry, each strengthening their market share through advancements in refining, resource integration, and sustainable production. Global producers such as Terrafame, Umicore, BHP, Nornickel, and GEM are enhancing supply reliability through responsible sourcing and investments in battery metal value chains. Key regional innovators like CoreMax Corporation, Guangdong Jin Sheng New Energy, Huayou Cobalt, Guangdong Feinan Resources Recycling, Jiangxi Grand Green Technology, and Dalian Ruiyuan Power continue to expand capacity, refine processing technologies, and supply high-purity materials to major cathode manufacturers.

Regionally, China leads global production with an extensive refining ecosystem and strong integration across the cathode materials supply chain. Europe, South Korea, and Japan also maintain significant production capabilities, supported by advanced processing technologies and strategic investments in EV battery infrastructure. Consumption remains highest in Asia-Pacific, driven by EV manufacturing hubs in China, Japan, South Korea, and Taiwan. North America and Europe show strong demand growth supported by policy initiatives promoting domestic battery supply chains and clean mobility adoption. Additional markets across Southeast Asia and Latin America are emerging as electrification accelerates and material supply networks diversify. Looking ahead, the nickel sulfate for EV battery market is expected to experience sustained market growth as innovation, supply chain expansion, and high-nickel cathode advancements shape the global market forecast.

by Type

• Crystal Powder
• Solution

by Application

• PHEV
• BEV
• Others

By Company

Sumitomo Metal Mining, Jinchuan Group, KEMCO (Korea Zinc), MCC Ramu New Energy Technology, Guangxi Yinyi Advanced Material, Ji En Nickel Industry, Terrafame Ltd, Shanghai CN Science And Technology, Trimegah Bangun Persada (TBP), BHP, Umicore, GEM, CoreMax Corporation, Nornickel, Guangdong Jin Sheng New Energy, Huayou Cobalt, Guangdong Feinan Resources Recycling, Jiangxi Grand Green Technology, Dalian Ruiyuan Power

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