Carbonyl Nickel Powder Market: Size, Share, Trends & Forecast (2024-2029)
The market report offers a detailed analysis segmented by Grade (Filamentary Grade, Chemical Grade, Powder Grade); by Application (Chemical Industry, Powder Metallurgy Components, Metallurgy, Others); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).
Outlook
- The carbonyl nickel powder market is estimated to be at USD 1,239.41 Mn in 2024 and is anticipated to reach USD 1,484.99 Mn in 2029.
- The carbonyl nickel powder market is registering a CAGR of 3.68% during the forecast period of 2024-2029.
- The global carbonyl nickel powder market is driven by its use in advanced manufacturing sectors such as electronics, aerospace, and automotive, particularly for applications like coatings, batteries, and 3D printing materials.
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Ecosystem
- The participants in the global carbonyl nickel powder industry dominate the global market through their strong production capabilities and distribution networks.
- These companies are primarily focused on improving purity and particle size distribution through mergers and acquisitions, along with expanding their operations to tap into growing market demand.
- Several important entities in the carbonyl nickel powder market include MMC Norilsk Nickel; BHP Group Ltd.; Anglo American Plc.; Glencore Plc.; Jinchuan Group Co., Ltd.; and others.
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Findings
| Attributes | Values |
|---|---|
| Historical Period | 2018-2022 |
| Base Year | 2023 |
| Forecast Period | 2024-2029 |
| Market Size (2024) | USD 1,239.41 Mn |
| Market Size (2029) | USD 1,484.99 Mn |
| Growth Rate | 3.68% CAGR from 2024 to 2029 |
| Key Segments | Grade (Filamentary Grade, Chemical Grade, Powder Grade); Application (Chemical Industry, Powder Metallurgy Components, Metallurgy); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa) |
| Key Vendors | MMC Norilsk Nickel; BHP Group Ltd.; Anglo American Plc.; Glencore Plc.; Jinchuan Group Co., Ltd. |
| Key Countries | The US; Canada; Brazil; China; India; Japan; The UK; Germany; Italy; France; Spain; Russia; South Africa |
| Largest Market | Asia Pacific |
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Trends
- Advancements in 3D Printing Materials: Carbonyl nickel powder has emerged as a material of choice in 3D printing due to its fine particle size and purity. Companies like GE Additive have developed specialized nickel powder for high-precision 3D printing applications in the aerospace and automotive industries.
- Sustainable Nickel Extraction: Sustainability initiatives are influencing nickel production methods. In 2023, companies such as Vale and Glencore invested in cleaner carbonyl nickel production methods, reducing CO2 emissions by implementing carbon capture technologies.
- Development of Nanostructured Nickel Powder: The development of nanostructured nickel powders has led to improved performance in applications like fuel cells and catalysis. In 2023, researchers at MIT developed a new method to produce nanostructured carbonyl nickel powder with enhanced surface area, resulting in better catalytic efficiency.
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Catalysts
- Demand for Electric Vehicles (EVs): The rapid growth of the electric vehicle market is a significant driver for carbonyl nickel powder, primarily used in EV batteries. For example, in 2023, Tesla’s battery production surged by 30% with increased usage of nickel-rich cathodes, driving the demand for high-purity nickel powders.
- Growth in Aerospace Sectors: The aerospace industry is increasing its use of carbonyl nickel powder for the manufacturing of superalloys and high-performance components. In 2023, Boeing reported a rise in demand for its next-generation aircraft engines, which rely on nickel-based superalloys for improved durability.
- Advancements in Power Metallurgy: Technological advancements in powder metallurgy are enabling more efficient production of high-quality components. In 2023, research in Germany led to the development of new processing techniques for carbonyl nickel powder, improving the density and performance of end products in sectors like automotive and aerospace.
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Restraints
- High Production Costs: The high cost associated with the production of carbonyl nickel powder remains a major challenge. In 2023, several manufacturers in North America reported production cost increases due to rising energy prices and the complexities involved in producing high-purity nickel powder.
- Supply Chain Disruptions: The global supply chain has faced disruptions due to geopolitical tensions and trade restrictions. In 2023, the European Union reported a 15% decline in nickel imports from Russia, one of the leading suppliers of nickel, causing supply shortages and price volatility in the market.
- Limited Availability of Raw Materials: There is a growing scarcity of high-quality nickel ores, especially in regions like Southeast Asia, which limits the production of carbonyl nickel powder. In 2023, Indonesia, a leading nickel producer, reported a decrease in the availability of high-grade nickel ores due to over-extraction, impacting the overall market supply.
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Table of Contents
| 1.       Introduction 1.1.    Research Methodology 1.2.    Scope of the Study 2.       Market Overview / Executive Summary 2.1.    Global Carbonyl Nickel Powder Market (2018 – 2022) 2.2.    Global Carbonyl Nickel Powder Market (2023 – 2029) 3.       Market Segmentation 3.1.    Global Carbonyl Nickel Powder Market by Grade 3.1.1. Filamentary Grade 3.1.2. Chemical Grade 3.1.3. Powder Grade 3.2.    Global Carbonyl Nickel Powder Market by Application 3.2.1. Chemical Industry 3.2.2. Powder Metallurgy Components 3.2.3. Metallurgy 3.2.4. Others 4.       Regional Segmentation 4.1.    North America 4.1.1. The US 4.1.2. Canada 4.1.3. Mexico 4.2.    South America 4.2.1. Brazil 4.2.2. Argentina 4.2.3. Colombia 4.2.4. Chile 4.2.5. Rest of South America 4.3.    Asia Pacific 4.3.1. China 4.3.2. India 4.3.3. Japan 4.3.4. South Korea 4.3.5. Rest of Asia Pacific 4.4.    Europe 4.4.1. The UK 4.4.2. Germany 4.4.3. Italy 4.4.4. France 4.4.5. Spain 4.4.6. Rest of Europe 4.5.    The Middle East 4.5.1. Turkey 4.5.2. UAE 4.5.3. Saudi Arabia 4.5.4. Rest of the Middle East 4.6.    Africa 4.6.1. Egypt 4.6.2. South Africa 4.6.3. Rest of Africa 5.       Value Chain Analysis of the Global Carbonyl Nickel Powder Market 6.       Porter Five Forces Analysis 6.1.    Threats of New Entrants 6.2.    Threats of Substitutes 6.3.    Bargaining Power of Buyers 6.4.    Bargaining Power of Suppliers 6.5.    Competition in the Industry 7.       Trends, Drivers and Challenges Analysis 7.1.    Market Trends 7.1.1.    Market Trend 1 7.1.2.    Market Trend 2 7.1.3.    Market Trend 3 7.2.    Market Drivers 7.2.1.    Market Driver 1 7.2.2.    Market Driver 2 7.2.3.    Market Driver 3 7.3.    Market Challenges 7.3.1.    Market Challenge 1 7.3.2.    Market Challenge 2 7.3.3.    Market Challenge 3 8.       Opportunities Analysis 8.1.    Market Opportunity 1 8.2.    Market Opportunity 2 8.3.    Market Opportunity 3 9.       Competitive Landscape 9.1.    MMC Norilsk Nickel 9.2.    BHP Group Ltd. 9.3.    Anglo American Plc. 9.4.    Glencore Plc. 9.5.    Jinchuan Group Co., Ltd. 9.6.    Company 6 9.7.    Company 7 9.8.    Company 8 9.9.    Company 9 9.10.  Company 10 |
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Carbonyl Nickel Powder Market – FAQs
1. What is the current size of the carbonyl nickel powder market?
Ans. In 2024, the carbonyl nickel powder market size is $1,239.41 Mn.
2. Who are the major vendors in the carbonyl nickel powder market?
Ans. The major vendors in the carbonyl nickel powder market are MMC Norilsk Nickel; BHP Group Ltd.; Anglo American Plc.; Glencore Plc.; Jinchuan Group Co., Ltd.
3. Which segments are covered under the carbonyl nickel powder market segments analysis?
Ans. The carbonyl nickel powder market report offers in-depth insights into Grade, Application, and Geography.