Nickel is a chemical element and the products containing nickel and nickel powder exhibit high corrosion resistance, enhanced toughness, and magnetic and electronic properties and with high strength at both high and low temperatures. Hence, it is used in a variety of applications such as batteries, alloying elements, and others, which is expected to aid in growth of the nickel powder market. Furthermore, increasing demand for stainless steel particularly in China, fuels growth of this market. According to World Steel Association, China is the largest steel producing country, producing 803.8 million metric tons in 2015 and it was increased to 808.4 million metric tons in 2016. However, nickel is a carcinogenic metal and its exposure may lead to various diseases such as lung cancer, neurological deficits, cardiovascular disease, and high blood pressure, which is expected to hinder growth of the nickel powder market.
Nickel Powder-Market Taxonomy
On the basis of type, nickel powder market is segmented into:
On the basis of process type, nickel powder market is segmented into:
On the basis of application, nickel powder market is segmented into:
Among powder types, carbonyl nickel powder segment accounted for the largest market share in terms of revenue. Carbonyl nickel powder is the highest purity nickel (99.98%) with high specific surface area, which helps in reducing power consumption as compared to electrolytic nickel powder. This is fueling growth of the nickel powder market. However, inhalation of carbonyl nickel powder may lead to side effects such as nausea, headache, and vomiting.
Nickel Powder - Market Outlook
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