Increased Use of Electric Vehicles Generates Prominent Demand Opportunities in Carbonyl Nickel Powder Market: TMR
- The global carbonyl nickel powder market is predicted to gather US$ 1 Bn by 2027 end. This growth is on the back of increased demand for carbonyl nickel powder in several end-use industries such as chemical and automotive industry.
- Europe carbonyl nickel powder market is estimated to gather lucrative opportunities during forthcoming years.
ALBANY, N.Y., Jan. 5, 2021 /PRNewswire/ -- Nickel carbonyl refers to an organonickel compound with the formula Ni(CO)4. Carbonyl nickel powder is gathering traction across various end-use industries owing to its diverse properties including well-defined microstructure and high-purity. The global carbonyl nickel powder market is estimated to gain prominent demand opportunities in the assessment period of 2019 to 2027. This growth is attributed to increased use of carbonyl nickel powder in diverse end-use industries including powder metallurgy applications.
According to analysts at Transparency Market Research, the carbonyl nickel powder market is likely to show growth at decent CAGR of ~4% in the forecast period. Increased use of carbonyl nickel powder in chemical industry is one of the key factors that will drive fabulous demand opportunities for market vendors in the forthcoming years.
Carbonyl Nickel Powder Market: Key Driving Factors and Promising Avenues
Carbonyl nickel powder finds application in battery and fuel cell electrodes, powder metallurgy, welding rods, hard metal binders, conducting additives, high-temperature filters, anti-seize lubricants, catalysts, and electronic materials. This wide range of applications is estimated to fuel the demand opportunities for vendors operating in the global carbonyl nickel powder market.
Carbonyl nickel powder is utilized in chemical industry for the production of high-purity nickel salts including nickel chloride, nickel sulfate, nickel hydroxide, and nickel sulfamate. On the back of this factor, the global carbonyl nickel powder market is foreseen to achieve upward sales graph in the years ahead.
This compound is widely utilized for the manufacturing of automotive catalytic converters and nylon. On the back of all these applications in automotive industry, the global carbonyl nickel powder market is predicted to gather promising sales avenues.
The government authorities of many countries all across the globe are promoting the use and production of electric vehicles. To support these initiatives, they are introducing several regulations. This scenario is creating remarkable demand for nickel-based batteries in automotive industry. As a result, the carbonyl nickel powder market is estimated to grow at stupendous pace in the forthcoming years.
The carbonyl nickel powder market experiences highly intense competitive landscape. Thus, enterprises are using many strategic moves to maintain their prominent position in this market. One of such efforts is the introduction of new products. This strategy is helping enterprises to strengthen their product portfolio.
Several vendors in the global carbonyl nickel powder market are focused on advancing the quality of their products. As a result, they are concentrated to manufacture products with precise particle density, size, and shape. On the grounds of all these activities, the global market for carbonyl nickel powder is projected to experience upward growth curve.
The list of important companies working in the carbonyl nickel powder market includes PJSC MMC Norilsk Nickel, Jinchuan Group International Resources Ltd, and Vale S.A.
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