The Global Nickel Powder Market is estimated to increase at a CAGR of 1.1 per cent during the forecast period 2020-2026

Nickel Powder:

It's a shiny black metal powder that's both hard and ductile. Due to their unique features, ultrafine and nanoscale powders have drawn much attention in recent decades. Magnetism, thermal resistance, chemical activity, a high surface volume area, better reactivity, enhanced hardness, semiconductor condition, and high chemical activity are some of the properties that have a wide range of applications, including batteries, hard alloys, catalysts, electricity, and so on. Pure nickel is also commonly used in currency systems, sonar, and ultrasonic devices around the world.

Market Growth:

During 2021-2026, the global Nickel Powder Market is predicted to increase at a CAGR of 1.1 per cent, from 3453.9 million USD in 2020 to 3734.6 million USD by the end of 2026.

Rapid technical advancements in material science have contributed significantly to the increase in demand for carbonyl nickel powder on the market. Carbonyl nickel powder is widely used in the manufacture of nickel-based batteries for electric vehicles. In today's world, there is a growing awareness of the need to minimize pollution and carbon footprints, which has resulted in various advances in important industrial sectors. To cut carbon emissions, major automotive firms are concentrating on developing environmentally-friendly electric vehicles.

This large increase in electric car manufacturing has influenced the demand for nickel-based batteries and, as a result, fueled the market growth. In addition, carbonyl nickel powder also has several uses in the chemical industry, such as petrochemical catalysts and additives, which fuel market expansion. However, the high toxicity of nickel salts and government rules prohibiting carbonyl nickel powder in the manufacturing sector contributes to the market's growth.

Because of the strong demand for eco-friendly electric vehicles in developed countries such as the United States, the market in North America represents a substantial part of the worldwide carbonyl nickel powder market. The market in the Asia-Pacific area is also predicted to grow rapidly, boosting the region's electronics and vehicle industries.

Regional Analysis:

In 2018, the Asia Pacific region dominated the global carbonyl Nickel Powder Market, with China leading the way. The continuous rise of India's chemicals sector can be attributed to Asia Pacific's dominance. During the forecast period, Europe is expected to be a very profitable region of the worldwide market. The rise in demand for automobiles in Europe is driving the market in Europe.

Key Players:

Heraeus, Sumitomo Metal Mining Co., Ltd., Advanced Nano Products, GEM, Shoei Chemical Inc, Fukuda, Jiangsu Boqian New Materials, Ningbo Guangbo, Jinchuan Group, Sichuan Hbst Co, Jien Nickel are the leading market players of Nickel Powder Market.