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Carbonyl Nickel Powder Market - Global Opportunity Analysis and Industry Forecast, 2020–2027
| A10793 | Pages: NA | Jun 2021 | 43 Views | | |
| Author(s) : Eswara Prasad | Tables: NA | Charts: NA | Formats*: | |
COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Carbonyl Nickel Powder Market
Request Now !Carbonyl nickel powder, scientifically known as nickel tetra carbonyl is an organ metallic compound. With the rapid advancement and innovations in the metallurgy sector in the recent past, the carbon in nickel powder is gaining popularity as an additive to different alloys. It plays an important role in improving the mechanical properties of alloy along with enhancing the conductivity, improving fatigue and magnetic properties of different electronic materials. Carbonyl nickel powder is extensively used in several end user industries such as automobile, electronics, and others. It is used in the production on nickel-based batteries that are used in electric vehicles. In addition, it also plays key roles in the chemical sector.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD) |
Segments covered | Type, Application, Industry Vertical, and Region |
Geographies covered | North America (U.S. and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of LATAM) and Middle East and Africa (Saudi Arabia, UAE, Kuwait, South Africa, and Rest of MEA) |
Companies covered | MMC Norilsk Nickel, BHP Billiton Ltd, Xstrata Plc, Pacific Metals, Anglo American, Sherritt, Jinchuan Group, Jilin Jien Nickel, Sumitomo Metal Mining and Nizi International. |
COVID-19 scenario analysis:
- The outbreak of the COVID-19 pandemic has severely affected the global carbonyl nickel powder market.
- The demand for electronics and electric vehicles has decreased across the globe due to the global economic slowdown caused by the pandemic. As a result, there is a drastic fall in the demand for carbonyl nickel powder in the end-user industries thereby affecting the market growth.
- The sudden outbreak of novel coronavirus has hampered the production of many industries because of low workforce and restriction in the transportation by the government to stop the spread of the virus. These factors have decreases the demand for carbonyl nickel powder in the chemical industries.
- The market is anticipated to experience growth after the pandemic period in the automobile industry because of the awareness among the consumers regarding the environmental crisis and the commitment among the consumers to spend premium price to buy the products that are eco-friendly.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The rapid technological development in the sector of material science has played a major role in the growth in demand for carbonyl nickel powder in the market. A major application of carbonyl nickel powder is in the production of nickel based batteries for electric vehicles. In the present day world, there is a rise in concern to reduce pollution and carbon footprints and this is leading to several innovations in major industrial sectors. The major companies in the automotive sector are focusing on developing eco-friendly electric vehicles to reduce carbon emission. This significant increase in the production of electric vehicles has influenced the demand for nickel-based batteries and as a result boosted the growth of the market. Moreover, carbonyl nickel powder also has several applications in the chemical industry as petrochemical catalysts and additives, which is also expected to drive the growth of the market. However, the high toxicity of the nickel salts and the stringent government regulations pertaining to the use of carbonyl nickel powder in the manufacturing sector fosters the growth of the market to a certain extent.
The market in the North America region holds a significant share of the global carbonyl nickel powder market due to the high demand for eco-friendly electric vehicles in the developed nations such as the U.S. The market in the Asia-Pacific region is also expected to witness lucrative growth and is anticipated to boost the growth of the electronics and automobile sector in the region.
Key segments covered:
Segments | Sub-segments |
Type | • Purity 0.985 • Purity 0.988 • Other |
Application | • Stainless Steel • Alloy • Electroplate • Other |
Industry Vertical | • Automobile • Electronics • Chemical • Other |
Key benefits of the report:
- This study presents the analytical depiction of the global carbonyl nickel powder industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global carbonyl nickel powder market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global carbonyl nickel powder market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global carbonyl nickel powder market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Carbonyl Nickel Powder Market research report:
- What are the leading market players active in the carbonyl nickel powder market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
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