Carbonyl Nickel Powder Market
Carbonyl Nickel Powder Market (Grade: Filamentary, Chemical, and Powder Metallurgy; and Application: Chemical Industry, Powder Metallurgy Components, Metallurgy, Battery Electrodes & Fuel Cells, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Consistent Demand for Carbonyl Nickel Powder for Powder Metallurgy Applications to Propel Market
The field of material science continues to evolve at a rapid pace. Research and development activities are redefining the development of new materials such as carbonyl nickel powder. Due to advancements in technology and research, applications of hard metals, powder metallurgy, and electronic materials continue to expand at a rapid pace. Over the past couple of decades, carbonyl nickel powder is gaining significant popularity, as they play an important role in improving fatigue and mechanical properties of alloy steels, magnetic & conductivity of electronic materials, etc. The demand for carbonyl nickel powder for powder metallurgy applications have evolved at a consistent pace over the past few decades– a factor that is projected to drive the carbonyl nickel powder market during the forecast period.
Production techniques of carbonyl nickel powder continue to evolve and primarily controlled to attain the desirable particle size, density, and particle shape. In the current scenario, as government bodies across the world continue to encourage the manufacturing and usage of electric vehicles, the demand for nickel-based batteries has increased, thereby driving the carbonyl nickel powder market. Despite widening applications of carbonyl nickel powder in different industries, the soaring demand from the chemical sector is likely to play a key role in fueling the growth of the carbonyl nickel powder market, which is likely to attain a market value of ~US$ 1 Bn by 2027.
To gauge the scope of customization in our reports Ask for a Sample
Electric Vehicles to Bolster Demand for Carbonyl Nickel Powder Market
At present, the major industrial sectors are under significant pressure to reduce their environmental footprint due to which innovations in every field continue to grow at a rapid pace. The automotive sector, under the constant pressure of government bodies across different regions to reduce the carbon emission in fossil-fueled vehicles, is focusing on the development of electric vehicles– a step toward a greener and resource-efficient future. The significant rise in the production of electric vehicles is influencing the demand for nickel batteries. The demand for nickel-based batteries has witnessed unprecedented growth in the past few years and is directly impacting the growth of the carbonyl nickel powder market.
Get an idea about the offerings of our report from Report Brochure
Contrary to conventional vehicles that operate on internal combustion engines (ICEs), electric vehicles operate on battery. At present, electric vehicle manufacturers are expected to focus on optimizing the efficiency of batteries so that vehicles can travel longer distances on single charge. Due to this requirement, added quantities of nickel is required to store the energy in lithium-ion batteries. Within the carbonyl nickel powder market, apart from applications in the chemical industry, the adoption of carbonyl nickel powder in fuel cells & battery electrodes is expected to scale new heights during the forecast period, thereby driving the carbonyl nickel powder market during the assessment period.
Stringent Regulations Pertaining to Use of Toxic Substances to Hamper Demand
While there is a rise in application areas of carbonyl nickel powder in various industries, including automotive and chemical, it is deemed to be one of the most dangerous and toxic substances. Research and development activities continue to investigate the toxic nature of nickel and nickel salts. With significant focus on improving workplace safety and surveillance, government bodies are formulating stringent guidelines pertaining to the use of toxic substances. Industrial hygiene programs and biological monitoring coupled with environmental monitoring of industrial working condition have gained significant momentum. Presently, carbonyl nickel powder manufacturers and users of nickel powder are focusing on limiting nickel-exposure. Stringent regulations pertaining to industrial uses of nickel could possibly see a shift in demand patterns wherein the potential of utilizing other alternative materials is likely to gain ground in the carbonyl nickel powder market.
Regulations pertaining to the use of hazardous materials, and substances vary with country due to which, manufacturers and importers of carbonyl nickel powder should provide accurate label warnings. Asia Pacific and North America are expected to be lucrative regions for participants operating in the carbonyl nickel powder market during the forecast period, due to heavy industrialization in different pockets of Asia and significant advancements in technology, industrial provisions, and research in North America.
Looking for Regional Analysis or Competitive Landscape in Carbonyl Nickel Powder Market, ask for a customized report
The global carbonyl nickel powder market is expected to grow at a CAGR of ~4% during the forecast period. Some of the top factors that are expected to influence the market growth include an emphasis on the production of electric vehicles, industrialization in Asia Pacific, and soaring demand for carbonyl nickel powder from the chemical industry. Although stringent regulations and industrial guidelines could hamper the adoption of carbonyl nickel powder in the coming years, manufacturers are increasingly focusing on spreading awareness regarding the catastrophic effects of carbonyl nickel powder.
Carbonyl Nickel Powder Market: Overview
- Carbonyl nickel powder is widely used in powder metallurgy, battery & fuel cell electrodes, hard metal binders, welding rods, high-temperature filters, conducting additives, electronic materials, anti-seize lubricants, and catalysts
- In general, carbonyl nickel powders with an apparent density of lower than 1.0 g/cm3 are referred to as light nickel powders. They are often in the form of filaments (a 3D chain of fine particles fused together). Carbonyl nickel powders with an apparent density of more than 1.0 g/cm3 are referred to as heavy nickel powders. They are often in the form of discrete particles.
- Carbonyl nickel powders are increasingly used in industrial applications due to their high-purity and well-defined microstructure. Nickel carbonyl Ni(CO)4 is formed when a reduced metallic nickel surface is exposed to gas atmosphere containing carbon monoxide under a certain temperature and pressure.
Key Growth Drivers of Carbonyl Nickel Powder Market
- Carbonyl nickel powder is also used in catalyst applications, ranging from nylon production to automotive catalytic converters. Nickel powder is employed to produce adiponitrile (ADN) and hexamethylenediamine (HMDA) salts, which are used in the production of nylon 66. Other salts produced from carbonyl nickel powder include nickel acetate, chloride, and phosphate. Carbonyl nickel powder also acts as an intermediate in the Mond process, which is employed for the production of very high purity nickel.
- Industrial diamonds are produced by combining carbonyl nickel powder with carbonyl iron, carbon, and seed diamonds under heat and pressure. Carbonyl nickel powder is employed in a variety of petrochemical catalysts.
- Components manufactured through the powder metallurgy technology are used for the production of a wide range of automotive components. Key components include transmission parts, engine parts, oil pumps, exhaust systems, and chassis components. These components play a vital role in the functioning of an automobile.
- The powder metallurgy technology can be used to produce high-value components such as gears, bearings, and shafts. Increase in usage of carbonyl nickel powder in powder metallurgy for automotive components can be ascribed primarily to cost-saving advantages offered by the powder metallurgy technology over other metalworking technologies.
- Thus, increase in the demand for nickel-based chemicals and catalysts & automotive applications is likely to boost the demand for carbonyl nickel powder during the forecast period
Key Challenges for Carbonyl Nickel Powder Market
- Nickel carbonyl powder is highly toxic and flammable. It can be difficult to detect. According to plant operators, disposal of nickel carbonyl can be costly and time consuming. Nickel carbonyl formation usually takes place in syngas plants. Manufacturers usually avoid conditions under which it can be formed.
- Carbonyl refining requires strict measures regarding process safety throughout the entire refinery operation, due to the extremely toxic nature of nickel carbonyl. Furthermore, nickel is a part of the Right to Know Hazardous Substance List, as it is cited hazardous by the OSHA, ACGIH, DOT, NIOSH, NTP, DEP, IARC, IRIS, NFPA, and EPA.
- The factors mentioned above have been restraining the global carbonyl nickel powder market since the last few years
Lucrative Opportunities for Players in Carbonyl Nickel Powder Market
- Increase in the number of regulations and rise in initiatives to boost the sale of electric vehicles are anticipated to propel the demand for nickel metal hydride batteries for use in hybrid electric vehicles, such as Toyota Prius, in the near future. For instance, in June 2017, the Clean Energy Ministerial, a global forum, launched a campaign called EV30@30 at its 8th annual Clean Energy Ministerial (CEM) meeting in order to accelerate the deployment of electric vehicles across the globe. The campaign aims to increase the sale of electric vehicles by 30% by 2030. Furthermore, there has been increase in activities such as mergers, acquisitions, and expansions by manufacturers for the production of lithium-ion batteries. On January 22, 2019, Toyota Motor Corporation announced its plans to form a joint venture with Panasonic Corporation for research and development, manufacture, procurement, and management of automotive prismatic lithium-ion batteries by the end of 2020.
Asia Pacific to Dominate Carbonyl Nickel Powder Market
- Asia Pacific dominated the global carbonyl nickel powder market in 2018, with China being the leader country in the region. Dominance of Asia Pacific can be ascribed to the constant growth of the chemicals industry in India.
- Europe is anticipated to be a highly lucrative region of the global carbonyl nickel powder market during the forecast period. The carbonyl nickel powder market in Europe is driven by the rise in demand for automotive in the region.
Leading Players in Carbonyl Nickel Powder Market
- The global carbonyl nickel powder market is highly consolidated. Major players operating in the carbonyl nickel powder market are
- Vale S.A.
- PJSC MMC Norilsk Nickel
- Jinchuan Group International Resources Ltd.
- Market players are developing new products to widen their consumer base. This is likely to intensify the competition in the global carbonyl nickel powder market in the next few years.
Carbonyl Nickel Powder Market – Scope of Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global carbonyl nickel powder market to gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating a landscape for the growth of the global carbonyl nickel powder market. The study also identifies growth avenues for stakeholders. The report provides insightful information about how the global carbonyl nickel powder market is likely to expand during the forecast period of 2019 to 2027.
The report offers intricate dynamics about different aspects of the global carbonyl nickel powder market that aid companies operating in the market in making strategic decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure the growth of the chemical industry with respect to the global carbonyl nickel powder market during the forecast period. It also includes a key indicator assessment to highlight growth prospects of the global carbonyl nickel powder market and estimates statistics related to growth of the market in terms of volume (tons) and value (US$ Mn).
This study covers a detailed segmentation of the global carbonyl nickel powder market, along with key information and a competition landscape. The report mentions company profiles of key players operating in the global carbonyl nickel powder market, wherein various developments and expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Carbonyl Nickel Powder Market
The report provides detailed information about the global carbonyl nickel powder market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global carbonyl nickel powder market that would help them design successful strategies and make target-driven decisions.
- Which grade segment of the global carbonyl nickel powder market would emerge as a leading revenue generator during the forecast period?
- What would be the Y-o-Y growth rate of the global carbonyl nickel powder market between 2019 and 2027?
- What are winning imperatives of frontrunners in the global carbonyl nickel powder market?
- Which application segment is expected to generate maximum revenue in the global market for carbonyl nickel powder during the forecast period?
Research Methodology – Carbonyl Nickel Powder Market
The research methodology adopted by analysts for compiling the report on the global carbonyl nickel powder market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the global carbonyl nickel powder market.
For primary research, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global carbonyl nickel powder market.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global carbonyl nickel powder market.
Carbonyl Nickel Powder Market – Segmentation
TMR’s research study segments the global carbonyl nickel powder market in terms of grade, application, and region. This report presents extensive market dynamics and growth trends associated with different segments and explains how they are influencing the growth of the global carbonyl nickel powder market.
Powder Metallurgy Components
Battery Electrodes & Fuel Cells
Others (including High-purity Nickel Niobium Alloys)
Middle East & Africa