Carbonyl Nickel Powder Market Demand, Key Drivers and Opportunities by 2027

Albany, NY - Carbonyl Nickel Powder Market: Introduction

The global carbonyl nickel powder market was valued at US$ 606.42 Mn in 2014 and is anticipated to expand at a CAGR of ~4% during the forecast period. The global carbonyl nickel powder market is driven by the increase in demand for carbonyl nickel powder in the chemical industry across the globe. Asia Pacific accounts for major share of the global carbonyl nickel powder market, led by high demand for carbonyl nickel powder among chemical manufacturers.

Download PDF Brochure - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=42458

Key Drivers of Carbonyl Nickel Powder Market

Nickel carbonyl is an organonickel compound with the formula Ni(CO)4. This colorless liquid is the principal carbonyl of nickel. Carbonyl nickel powder is primarily used in the chemical industry. The chemical industry constitutes more than 60% of the demand for carbonyl nickel powder. Carbonyl nickel powder is employed in the chemical industry to produce high-purity nickel salts such as nickel sulfate, nickel chloride, nickel sulfamate, and nickel hydroxide. Carbonyl nickel powder is also used in the manufacture of nylon and automotive catalytic converters. Thus, increase in demand for nickel-based chemicals and catalysts is likely to boost the demand for carbonyl nickel powder during the forecast period.

Rise in Demand for Nickel-based Batteries to Offer Lucrative Opportunities for Carbonyl Nickel Powder Market

Carbonyl nickel powder reacts with sulfuric acid to produce very high purity nickel sulfate for plating applications. Nickel sulfate can be further processed to form high-purity nickel hydroxide Ni(OH2), which is employed in the production of positive electrodes in nickel metal hydride batteries that are used in hybrid electric vehicles (HEVs). Nickel-based batteries such as nickel-cadmium (Ni–Cd) and nickel metal hydride (NiMH) batteries are widely available rechargeable battery systems in the world. The demand for nickel–cadmium batteries has been rising rapidly since the last few years, due to the increase in demand for these batteries in the automobile sector (particularly, electric vehicles). These batteries also offer low internal resistance, cost efficiency, durability, reliability, and ease of use. Nickel–cadmium batteries are employed in a wide range of applications, including portable devices such as motorized equipment, power tools, and medical instruments.

The filamentary structure of carbonyl nickel powder helps in diffusion during sintering of nickel-based batteries, thereby ensuring high porosity, good strength, superior conductivity, and long battery life. Thus, increase in demand for nickel-based batteries is estimated to augment the global carbonyl nickel powder market.

More Trending Reports by Transparency Market Research – https://www.prnewswire.com/news-releases/increasing-rubber-recycling-rate-to-create-opportunities-in-industrial-rubber-products-market-from-2019-to-2027-tmr-study-301123822.html

Disposal Issues and Rules and Regulations by Various Government Bodies to Hamper Carbonyl Nickel Powder Market

Nickel carbonyl powder [Ni(CO)4], also known as ‘liquid death,’ is a colorless, toxic, and volatile reagent. It has damaging effect on the lungs, the central nervous system, and the reproductive system. It is a carcinogen. Nickel is also a part of the Right to Know Hazardous Substance List, as it is cited hazardous by OSHA, ACGIH, DOT, NIOSH, NTP, DEP, IARC, IRIS, NFPA, and EPA. Nickel carbonyl powder is highly toxic and flammable. It can be difficult to detect. Disposal of nickel carbonyl can be costly and time consuming. Nickel carbonyl formation usually takes place in syngas plants. These factors are projected to adversely affect the global carbonyl nickel powder market.

Asia Pacific Dominates Carbonyl Nickel Powder Market

In terms of volume, Asia Pacific held a leading share of the global carbonyl nickel powder market in 2018. Growth of the population and rise in disposable income of consumers are key factors boosting the chemical industry in the region. Asia Pacific is likely to hold dominant share of the global market during the forecast period, owing to the increase in demand for carbonyl nickel powder from China, India, and Japan, due to the expanding automotive industry in these countries. China-based Jinchuan Group International Resources Ltd. is a major producer of carbonyl nickel powder in Asia Pacific.

North America and Europe are the dominant regions in terms of production of carbonyl nickel powder. Vale S.A., based in Canada and Wales, and PJSC MMC Norilsk Nickel, based in Russia, are major producers of carbonyl nickel powder in North America and Europe. The market share of Latin America and Middle East & Africa is expected to decline during the forecast period, due to lack of awareness among OEMs regarding capabilities of the powder metallurgy technology in these regions.

Buy Now - https://www.transparencymarketresearch.com/checkout.php?rep_id=42458<ype=S

Consolidated Nature of Carbonyl Nickel Powder Market

The global carbonyl nickel powder market is highly consolidated. The top three players - Vale S.A., PJSC MMC Norilsk Nickel, and Jinchuan Group International Resources Ltd. - cumulatively accounted for 91.6% share in 2018. Vale S.A. held 69.3% share of the global carbonyl nickel powder market in 2018. The company’s success can be primarily ascribed to its constant production capacity expansion and new product innovation. PJSC MMC Norilsk Nickel constituted 9.8% share of the global carbonyl nickel powder market in 2018. Jinchuan Group International Resources Ltd. occupied 12.5% share in the same year.

Other key players operating in the global carbonyl nickel powder market include CVMR Corporation, Glencore International AG, Novamet Specialty Products Corporation, Sumitomo Metal Mining Co., Ltd, and ERAMET Group. These companies held 8.4% share of the global carbonyl nickel powder market in 2018.

Request for covid19 Impact Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=42458

Contact

Transparency Market Research,

90 Sate Street, Suite 700,

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com/

About Us

Transparency Market Research is a global market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts so that it always reflects latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

This release was published on openPR.