Increasing Launch and Use of Electric Vehicles and Significant Growth in Electronics Sector to Augment Growth of Nickel Powder Market

 

Nickel powder is used in production of alloys, stainless steel, and heat-resisting steel. Nickel carbonyl process, also known as the Mond process, is used to produce nickel powders with controlled morphology and tolerances. There are various types of nickel powders such as vale nickel powder type 123, vale nickel powder type 255, novamet type 4SP/SNP spherical nickel powders, novamet nickel powder type 525, hydrogen-reduced nickel powder, and electrolytic nickel powders. Nickel powders are widely used in industrial applications such as rechargeable batteries, manufacturing, powder metallurgy, and electroplating and coinage industries. The powders are also used in uranium enrichment in nuclear energy.

Market Dynamics

Increasing launch and use of electric vehicles is expected to boost demand for carbonyl nickel powder, thereby propelling growth of the global nickel powder market. For instance, in January 2020, Great Wall Motor, a China-based automobile manufacturer, announced to launch its electric car Ora R1 in India in 2020. Moreover, increasing adoption of NiMH batteries is also expected to aid in growth of the market. For instance, in July 2020, Tive, Inc., a provider of supply chain tracking solutions to the food processing industry, launched Tive Solo 5G Non Lithium-Ion (Li-Ion) Tracker powered by NiMH batteries.

Significant growth in the electronics sector is expected to offer lucrative growth opportunities for players in the global nickel powder market. For instance, according to India Brand Equity Foundation, the electronics market in India is expected to witness a CAGR of 24.4% during 2012–20. Moreover, increasing adoption of NiCd batteries in emergency medical equipment, professional video cameras, and power tools is also expected to aid in growth of the market. NiCd batteries are rugged and offer high cycle count with proper maintenance. It also offers good load performance and can be ultra-fast charged with little stress.

Increasing demand for foundry-made ICs is expected to propel growth of the global nickel powder market. For instance, according to the 2020 edition of The Foundry Almanac, foundry-made ICs are expected to account for over 40% of total integrated circuit sales to systems makers through 2023.

Competitive Analysis

Major players operating in the global nickel powder market include, Vale Mining Company, MMC Norilsk Nickel, Chemalloy, Jinchuan (USA) Inc., Sumitomo Metal Mining Co. Ltd., Nizi International, Jilin Jien Nickel Industry Co., Ltd., Sarda Industrial Enterprises, and others.

May 2020: Nadezhda Metallurgical Plant, Nornickel’s Polar Division, achieved international information security certification.

In-depth Report on Nickel Powder Market by Coherent Market Insights:

https://www.coherentmarketinsights.com/ongoing-insight/nickel-powder-market-1244