Nickel-plated Steel Sheet in Batteries Market - Global Industry Research Analysis

Nickel-plated Steel Sheet in Batteries Market Insights

According to Market Research Store, the global nickel-plated steel sheet in batteries market size was valued at around USD 554.23 million in 2023 and is estimated to reach USD 1227.79 million by 2032, to register a CAGR of approximately 9.24% in terms of revenue during the forecast period 2024-2032.

The nickel-plated steel sheet in batteries report provides a comprehensive analysis of the market, including its size, share, growth trends, revenue details, and other crucial information regarding the target market. It also covers the drivers, restraints, opportunities, and challenges till 2032.

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Global Nickel-plated Steel Sheet in Batteries Market: Overview

The Nickel-Plated Steel Sheet in Batteries Market revolves around the use of nickel-plated steel sheets as key materials in battery manufacturing, particularly in lithium-ion and nickel-based rechargeable batteries. Nickel-plated steel offers superior corrosion resistance, electrical conductivity, and mechanical strength, making it an ideal choice for battery casings and current collectors. It is widely used in consumer electronics, electric vehicles (EVs), industrial energy storage, and portable power applications.

The growth of the market is driven by the increasing demand for rechargeable batteries in EVs, energy storage systems, and portable electronic devices. The rising adoption of electric mobility and advancements in battery technology, including solid-state and high-energy-density batteries, have further boosted the need for durable and conductive materials like nickel-plated steel. Additionally, manufacturers prefer nickel plating due to its cost-effectiveness compared to pure nickel components.

Key Highlights

• The nickel-plated steel sheet in batteries market is anticipated to grow at a CAGR of 9.24% during the forecast period.
• The global nickel-plated steel sheet in batteries market was estimated to be worth approximately USD 554.23 million in 2023 and is projected to reach a value of USD 1227.79 million by 2032.
• The growth of the nickel-plated steel sheet in batteries market is being driven by the surging demand for rechargeable batteries, particularly for electric vehicles (EVs), consumer electronics, and renewable energy storage
• Based on the product, the high-performance nickel-plated steel sheets segment is growing at a high rate and is projected to dominate the market.
• On the basis of end-use, the automotive segment is projected to swipe the largest market share.
• In terms of battery, the lithium-ion batteries segment is expected to dominate the market.
• Based on the thickness, the thin nickel-plated steel sheets (less than 0.5mm) segment is expected to dominate the market.
• Based on the coating, the electrolytic nickel coating segment is expected to dominate the market.
• By region, Asia Pacific is expected to dominate the global market during the forecast period.

Nickel-plated Steel Sheet in Batteries Market: Dynamics

Key Drivers

• Growth of Electric Vehicles (EVs): The surge in demand for EVs is the primary driver. Nickel-plated steel sheets are crucial components in EV batteries, serving as current collectors within battery cells.
• Renewable Energy Storage: The increasing adoption of renewable energy sources like solar and wind power necessitates the use of energy storage systems (ESS). Nickel-plated steel sheets play a vital role in the construction of batteries for these ESS.
• Consumer Electronics: The ever-growing demand for portable electronics, such as smartphones, laptops, and wearables, drives the need for high-performance batteries, which rely on components like nickel-plated steel sheets.
• Industrial Applications: Nickel-plated steel sheets are used in various industrial applications, including power tools, medical devices, and telecommunications equipment, further driving market demand.

Restraints

• Volatility in Nickel Prices: Fluctuations in nickel prices can significantly impact the production costs of nickel-plated steel sheets, affecting profitability.
• Environmental Concerns: Environmental concerns related to nickel mining and processing, as well as the potential environmental impact of battery waste, need to be addressed.
• Competition from Alternative Materials: Competition from alternative materials for battery components, such as aluminum and copper, can impact market share.
• Supply Chain Disruptions: Global supply chain disruptions, such as those related to raw material availability or geopolitical instability, can impact the production and availability of nickel-plated steel sheets.

Opportunities

• Technological Advancements: Development of advanced nickel plating techniques to improve the quality, efficiency, and sustainability of the plating process.
• Focus on Sustainability: Emphasizing sustainable sourcing of raw materials and implementing environmentally friendly manufacturing practices.
• Exploring New Applications: Exploring new and emerging applications for nickel-plated steel sheets in various industries, such as aerospace and defense.
• Collaboration with Battery Manufacturers: Collaborating with battery manufacturers to develop innovative battery technologies and optimize the performance of nickel-plated steel sheets.

Challenges

• Maintaining Product Quality and Consistency: Ensuring consistent quality and performance of nickel-plated steel sheets across different production batches.
• Addressing Environmental Concerns: Mitigating the environmental impact of nickel mining, processing, and the end-of-life disposal of batteries.
• Staying Competitive: Remaining competitive in a dynamic market with increasing competition from other materials and technologies.
• Meeting Evolving Regulatory Requirements: Complying with evolving environmental regulations and safety standards related to the production and use of nickel-plated steel sheets.

Nickel-plated Steel Sheet in Batteries Market: Report Scope

Nickel-plated Steel Sheet in Batteries Market: Segmentation Insights

The global nickel-plated steel sheet in batteries market is divided by product, end-use, battery, thickness, coating, and region.

Segmentation Insights by Product

Based on Product, the global nickel-plated steel sheet in batteries market is divided into high-performance nickel-plated steel sheets, standard nickel-plated steel sheets, and corrosion-resistant nickel-plated steel sheets.

The High-performance Nickel-plated Steel Sheets segment dominates the Nickel-plated Steel Sheet in Batteries Market, driven by the increasing demand for high-efficiency and long-lasting battery components. These sheets offer superior conductivity, thermal stability, and adhesion properties, making them ideal for advanced lithium-ion and nickel-based batteries used in electric vehicles (EVs), consumer electronics, and energy storage systems. The rising adoption of EVs and the need for high-performance battery solutions further accelerate the demand for this segment.

The Standard Nickel-plated Steel Sheets segment holds a significant share, primarily serving conventional battery applications, including alkaline and lead-acid batteries. These sheets provide a cost-effective solution with adequate corrosion resistance and electrical conductivity, making them suitable for mass-market battery production. Their widespread use in household batteries, industrial backup power, and small electronic devices supports steady market growth.

The Corrosion-resistant Nickel-plated Steel Sheets segment is gaining traction, particularly in harsh environmental applications where batteries require extended durability and resistance to oxidation. These sheets are preferred in marine, aerospace, and industrial energy storage systems, where exposure to extreme conditions demands superior material longevity. The increasing focus on sustainable and long-life battery solutions contributes to the expansion of this segment.

Segmentation Insights by End-Use

On the basis of End-Use, the global nickel-plated steel sheet in batteries market is bifurcated into automotive, aerospace, consumer electronics, renewable energy, and medical devices.

The Automotive segment dominates the Nickel-plated Steel Sheet in Batteries Market, primarily due to the rapid expansion of the electric vehicle (EV) industry. Nickel-plated steel sheets are widely used in EV battery packs for their excellent conductivity, corrosion resistance, and thermal stability. As governments worldwide push for EV adoption and automakers invest heavily in battery technology, the demand for high-performance nickel-plated steel sheets in this sector continues to rise.

The Aerospace segment benefits from the use of nickel-plated steel in specialized battery applications, including backup power systems and energy storage for electric and hybrid aircraft. The need for lightweight, high-performance materials with superior durability in extreme conditions supports steady market growth in this area.

The Consumer Electronics segment holds a significant share, driven by the widespread use of nickel-plated steel in batteries for smartphones, laptops, wearables, and other portable electronic devices. The increasing demand for high-energy-density batteries with extended lifespans has further boosted the need for advanced nickel-plated materials.

The Renewable Energy segment is experiencing strong growth as energy storage solutions become essential for solar and wind power integration. Nickel-plated steel sheets enhance battery efficiency and longevity in grid-scale energy storage systems, supporting the shift toward sustainable power sources. The rising investments in renewable energy projects worldwide contribute to this segment’s expansion.

The Medical Devices segment is growing steadily, with nickel-plated steel sheets used in batteries for critical medical equipment such as pacemakers, hearing aids, and portable diagnostic devices. The increasing demand for reliable and long-lasting battery solutions in the healthcare industry further supports this segment.

Segmentation Insights by Battery

On the basis of Battery, the global nickel-plated steel sheet in batteries market is bifurcated into lithium-ion batteries, nickel-cadmium (NICD) batteries, nickel-metal hydride (NIMH) batteries, and lead-acid batteries.

The Lithium-ion Batteries segment dominates the Nickel-plated Steel Sheet in Batteries Market, primarily due to the rapid expansion of electric vehicles (EVs), consumer electronics, and energy storage systems. Lithium-ion batteries offer high energy density, longer lifespan, and superior performance, making them the preferred choice for modern battery applications. The increasing production of EVs, coupled with government incentives for clean energy solutions, significantly boosts the demand for nickel-plated steel sheets in this segment.

The Nickel-Metal Hydride (NiMH) Batteries segment holds a considerable market share, driven by its application in hybrid vehicles, medical devices, and power tools. While NiMH batteries are being gradually replaced by lithium-ion technology, their stability, affordability, and environmental benefits keep them relevant, especially in applications where long battery life and durability are required.

The Nickel-Cadmium (NiCd) Batteries segment is gradually declining due to environmental concerns and regulatory restrictions on cadmium use. However, these batteries still find niche applications in industrial equipment, emergency lighting, and aviation due to their reliability and ability to perform well in extreme temperatures.

The Lead-Acid Batteries segment remains essential in automotive starting, lighting, and ignition (SLI) applications, as well as in backup power systems. However, its market share is shrinking as lithium-ion and other advanced battery technologies gain traction. Despite this, lead-acid batteries continue to be used in cost-sensitive applications where affordability and reliability are prioritized.

Segmentation Insights by Thickness

On the basis of Thickness, the global nickel-plated steel sheet in batteries market is bifurcated into thin nickel-plated steel sheets (less than 0.5mm), medium thickness nickel-plated steel sheets (0.5mm - 1mm), and thick nickel-plated steel sheets (greater than 1mm).

The Thin Nickel-plated Steel Sheets (less than 0.5mm) segment dominates the Nickel-plated Steel Sheet in Batteries Market, primarily due to its extensive use in lithium-ion and nickel-metal hydride (NiMH) batteries. These sheets provide excellent conductivity, corrosion resistance, and lightweight properties, making them ideal for compact and high-performance battery applications in electric vehicles (EVs), consumer electronics, and medical devices. The growing demand for thin and efficient battery components in advanced energy storage solutions further drives the dominance of this segment.

The Medium Thickness Nickel-plated Steel Sheets (0.5mm - 1mm) segment holds a significant share in the market, mainly used in industrial batteries, power tools, and backup energy storage systems. These sheets offer a balance between durability and flexibility, making them suitable for applications that require enhanced mechanical strength and conductivity. The demand for medium thickness sheets remains steady, particularly in heavy-duty applications that require reliable battery performance.

The Thick Nickel-plated Steel Sheets (greater than 1mm) segment is relatively smaller but remains relevant in specialized applications such as aerospace, renewable energy storage, and large-scale industrial battery systems. These sheets provide superior strength and corrosion resistance but are less preferred for compact and portable devices due to their heavier weight and lower flexibility.

Segmentation Insights by Coating

On the basis of Coating, the global nickel-plated steel sheet in batteries market is bifurcated into electrolytic nickel coating, electroless nickel coating, and nickel alloy coating.

The Electrolytic Nickel Coating segment dominates the Nickel-plated Steel Sheet in Batteries Market due to its widespread use in lithium-ion and nickel-metal hydride (NiMH) batteries. This coating method provides excellent adhesion, uniform thickness, and high corrosion resistance, making it ideal for applications requiring efficient conductivity and long-lasting battery performance. The automotive and consumer electronics industries drive the demand for electrolytic nickel-coated steel sheets, particularly in electric vehicles (EVs) and portable devices.

The Electroless Nickel Coating segment holds a significant share, particularly in applications where uniform coating on complex surfaces is essential. This method provides excellent wear resistance, corrosion protection, and superior surface smoothness, making it suitable for specialized battery components in aerospace, medical devices, and industrial energy storage systems. However, due to its relatively higher cost and process complexity, its market penetration is lower than electrolytic nickel coating.

The Nickel Alloy Coating segment is a niche category used in applications requiring enhanced mechanical properties, such as extreme corrosion resistance and high-temperature durability. This coating type is primarily used in aerospace, defense, and high-performance industrial batteries. While offering superior protection, the higher production costs and limited demand in mainstream battery applications keep this segment smaller in market share.

Nickel-plated Steel Sheet in Batteries Market: Regional Insights

• Asia-Pacific is expected to dominates the global market

Asia-Pacific dominates the market, with China, Japan, and South Korea as the leading contributors. China is the largest producer and consumer of batteries, driven by its booming electric vehicle industry and government policies promoting energy storage technologies. Japan and South Korea are home to major battery manufacturers like Panasonic, LG Energy Solution, and Samsung SDI, which extensively use nickel-plated steel sheets in battery casings. The increasing demand for consumer electronics, combined with rapid industrialization and advancements in battery materials, further strengthens market growth in the region.

North America holds a notable share in the nickel-plated steel sheet market, primarily driven by the demand for advanced battery technologies in the United States and Canada. The expanding EV industry, significant investments in battery research, and the presence of major battery manufacturers contribute to market growth. Additionally, the region’s increasing focus on renewable energy storage systems and government support for clean energy solutions drive demand for high-performance battery components.

Europe is a key market, with Germany, the UK, and France leading in adoption. The region’s strong push toward electric mobility, driven by stringent emission regulations and government incentives for EV adoption, is fueling demand for nickel-plated steel sheets in battery production. Additionally, the presence of major automotive and battery manufacturers, along with increasing investments in local battery production under initiatives like the European Battery Alliance, supports market expansion.

Latin America is an emerging market, with Brazil and Mexico seeing increased demand for batteries in automotive and consumer electronics applications. The region’s growing focus on renewable energy storage and electric mobility is expected to drive further adoption of nickel-plated steel sheets in battery manufacturing. However, the market faces challenges such as limited local production and reliance on imports.

Middle East and Africa region is gradually expanding in this market, with the UAE and South Africa showing increased interest in battery technologies for renewable energy applications. Government initiatives promoting sustainable energy solutions and growing investments in electric mobility are expected to support market growth. However, limited infrastructure for battery manufacturing may hinder rapid expansion.

Nickel-plated Steel Sheet in Batteries Market: Competitive Landscape

The report provides an in-depth analysis of companies operating in the nickel-plated steel sheet in batteries market, including their geographic presence, business strategies, product offerings, market share, and recent developments. This analysis helps to understand market competition.

Some of the major players in the global nickel-plated steel sheet in batteries market include:

• Hunan TOYO-LEED
• Jiangsu Jiutian
• NIPPON STEEL
• Tata Steel
• TCC Steel
• Toyo Kohan
• Yongsheng New Material
• Zhongshan Sanmei

The global nickel-plated steel sheet in batteries market is segmented as follows:

By Product

• High-performance Nickel-plated Steel Sheets
• Standard Nickel-plated Steel Sheets
• Corrosion-resistant Nickel-plated Steel Sheets

By End-Use

• Automotive
• Aerospace
• Consumer Electronics
• Renewable Energy
• Medical Devices

By Battery

• Lithium-ion Batteries
• Nickel-Cadmium (NiCd) Batteries
• Nickel-Metal Hydride (NiMH) Batteries
• Lead-Acid Batteries

By Thickness

• Thin Nickel-plated Steel Sheets (less than 0.5mm)
• Medium Thickness Nickel-plated Steel Sheets (0.5mm - 1mm)
• Thick Nickel-plated Steel Sheets (greater than 1mm)

By Coating

• Electrolytic Nickel Coating
• Electroless Nickel Coating
• Nickel Alloy Coating

By Region

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• The Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East Africa

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