NICKEL POWDER MARKET ANALYSIS

Nickel Powder MarketSize and Trends

• North America is expected to be the largest market in terms of revenue share, over the forecast period. This is attributed to growing usage of nickel powder in alloys, and stainless steel in the U.S. and Canada. According to United States Geological Survey, approximately 45% of the nickel consumed was utilized in alloy steel and stainless steel production in the U.S. and produced 1.64 million tons of stainless steel (nickel bearing) in 2014, was 8% more from 2013.
• Asia Pacific is fastest growing region in the global nickel powder market over the forecast period, owing to increasing demand for stainless steel for various end use industries such as food and catering, automotive, energy and heavy industries, and others in emerging economies such as China. According to Department of Industry, Innovation and Science — a department of the Australian Government — China is the largest market for nickel accounted for the 65% of nickel consumption in the world. The stainless steel production in China was 25 million tons in 2016, which was increased by 16% whereas, Japan was second largest market for stainless steel production accounting for 3.3 million tons in 2016.
• According to U.S. Environmental Protection Agency, nickel and nickel refinery dust is a carcinogen and has led to lung tumors, which has negatively impacting growth of market.
• Nickel powder manufactures are adopting various strategies such as partnerships and research & development, to sustain their market positions. In June 2017, Sama Resources Inc. — a company focused on exploring nickel and copper project in Africa — signed a partnership agreement with CVMR Corporation for using its technology, to produce iron and nickel powder.
• Some of the major market players operating in the global nickel powder market include 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.