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๐Ÿ“‘ Nickel Market & Compound Analysis Report

India Focus, 2025 | Part 2: ESG โ€“ Recycled Ni Compounds

A Way to Sustainability

โ™ป๏ธ Scrap Sources in India

๐Ÿ”„ Recycling Routes โ†’ Compounds

Scrap Source Recycling Process Output Compound(s) India Companies Involved
Stainless steel scrap Remelting, refining Alloy feedstock (Ni metal) Jindal Stainless (scrap blending), SAIL (secondary steel)
Plating waste Neutralization, precipitation NiClโ‚‚, Ni acetate, NiSOโ‚„ Rubamin, RK Metkam, R.S. Chemicals
Battery scrap Hydrometallurgical leaching (acid + solvent extraction) Ni(OH)โ‚‚, NiSOโ‚„ (battery precursors) Rubamin (pilot), Attero Recycling (EV battery recycling)
Catalyst scrap Leaching, solvent extraction Ni nitrate, Ni salts IOCL, Reliance (catalyst recovery units)
Electronics scrap Mechanical + chemical recovery Ni powder, Ni oxalate Eโ€‘waste recyclers (Ecoreco, TESโ€‘AMM India)

๐Ÿ“Š India Demand from Recycled Chain (2025 estimates)

Compound (Recycled) India Supply (kt) Share of Total Demand Notes
Nickel Hydroxide (battery scrap) ~2โ€“3 ~20% of hydroxide demand Pilot EV battery recycling
Nickel Oxide ~1โ€“2 ~15% of oxide demand From plating sludge calcination
Nickel Powder <1 ~10โ€“15% of powder demand From eโ€‘waste recovery
Nickel Chloride ~2โ€“3 ~40% of chloride demand From plating bath recycling
Nickel Acetate ~0.5 ~25% of acetate demand From plating waste neutralization
Nickel Nitrate ~1 ~30% of nitrate demand From spent refinery catalysts
Nickel Oxalate <0.2 Niche From lab/eโ€‘waste recovery

๐ŸŒ ESG Impact

Key Benefits:

  • Carbon footprint reduction: Recycling avoids mining/HPAL energy intensity
  • Import substitution: India reduces dependency on primary nickel imports
  • Circular economy: Scrap โ†’ compounds โ†’ new endโ€‘use (batteries, plating, catalysts)
  • Policy drivers: EV battery recycling mandates (India 2024 rules) will expand Ni recovery
  • Companies leading ESG: Rubamin (nickel salts from scrap), Attero (battery recycling), Ecoreco (electronics), IOCL/Reliance (catalyst recovery)

โ™ป๏ธ Part 2: ESG โ€“ Recycled Ni Compounds โ€“ A Way to Sustainability

Scrap Sources in India

Recycling Routes โ†’ Compounds (Company-wise)

Scrap Source Recycling Process Output Compound(s) India Companies Involved
Stainless steel scrap Remelting, refining Alloy feedstock (Ni metal) Jindal Stainless (scrap blending), SAIL (secondary steel)
Plating waste Neutralization, precipitation NiClโ‚‚, Ni acetate, NiSOโ‚„ Rubamin, RK Metkam, R.S. Chemicals
Battery scrap Hydrometallurgical leaching (acid + solvent extraction) Ni(OH)โ‚‚, NiSOโ‚„ (battery precursors) Rubamin (pilot), Attero Recycling (EV battery recycling)
Catalyst scrap Leaching, solvent extraction Ni nitrate, Ni salts IOCL, Reliance (catalyst recovery units)
Electronics scrap Mechanical + chemical recovery Ni powder, Ni oxalate E-waste recyclers (Ecoreco, TES-AMM India)

India Demand from Recycled Chain (2025 estimates)

Compound (Recycled) India Supply (kt) Share of Total Demand Notes
Nickel Hydroxide (battery scrap) ~2โ€“3 ~20% of hydroxide demand Pilot EV battery recycling
Nickel Oxide ~1โ€“2 ~15% of oxide demand From plating sludge calcination
Nickel Powder <1 ~10โ€“15% of powder demand From e-waste recovery
Nickel Chloride ~2โ€“3 ~40% of chloride demand From plating bath recycling
Nickel Acetate ~0.5 ~25% of acetate demand From plating waste neutralization
Nickel Nitrate ~1 ~30% of nitrate demand From spent refinery catalysts
Nickel Oxalate <0.2 Niche From lab/e-waste recovery

๐Ÿ”ฎ Strategic Takeaway

By 2030, India could meet 25โ€“30% of its nickel compound demand from recycled sources, especially plating salts and battery precursors.

ESG compliance and circular economy practices will become mandatory for OEMs and refiners, pushing recyclers into mainstream supply chains.

Margins: Recycled compounds often enjoy higher margins due to lower feedstock cost, but require investment in purification and QA.

โœ… Complete Report: Part 1 (Ore โ†’ Metal โ†’ Compounds โ†’ Endโ€‘use) + Part 2 (ESG โ€“ Recycled Ni Compounds)

A comprehensive sustainability view of India's nickel market