Nickel is a chemical element with strong corrosion resistance, increased toughness, magnetic and electrical capabilities, and great strength at both high and low temperatures in goods incorporating nickel and nickel powder. As a result, it's employed in a wide range of applications, including batteries, alloying elements, and others, which is likely to boost the nickel powder market's growth. Furthermore, rising stainless steel consumption, notably in China, is propelling this industry forward. China is the world's greatest steel producer, according to the World Steel Association, producing 803.8 million metric tonnes in 2015 and 808.4 million metric tonnes in 2016.
Nickel Powder Market, on the other hand, is a carcinogenic metal that can cause lung cancer, neurological impairments, cardiovascular illness, and high blood pressure, all of which are projected to slow the growth of the nickel powder market.
In terms of sales, the carbonyl nickel powder category had the biggest market share among powder kinds. When compared to electrolytic nickel powder, carbonyl nickel powder has the highest purity (99.98%) and the highest specific surface area, which helps to reduce power consumption. The nickel powder market is growing as a result of this. Inhaling carbonyl nickel powder, on the other hand, can cause nausea, headaches, and vomiting.
Market Prospects for Nickel Powder
Over the projection period, North America is expected to be the largest Nickel Powder Market in terms of revenue share. This is due to an increase in the use of nickel powder in alloys and stainless steel in the United States and Canada. According to the United States Geological Survey, about 45 percent of nickel consumed in the United States was used in alloy steel and stainless steel manufacture, with 1.64 million tonnes of stainless steel (nickel-bearing) produced in 2014, up 8% from 2013.
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 are some of the prominent market players in the worldwide nickel powder market.
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