The nickel nano powder market size was valued at USD 356.5 million in 2021 and USD 387.0 million in 2022. It is projected to reach USD 758.8 million by 2029 at a CAGR of 10.1% during the forecast period. The market has grown terrifically well due to its growing applications in several industries such as research & laboratories, medical devices, nanomaterials, and electronics devices. Fortune Business Insights™ stated this in a report titled, "Nickel Nano Powder Market, 2022-2029."
COVID-19 Impact-
Low Availability of Raw Materials Impede Market Growth
A considerable impact was observed on nickel nano powder during the outbreak. Low availability of raw materials and decline in demand from end-users have affected product demand negatively. Meanwhile, the growing demand for ventilators in treating respiratory concerns during the pandemic has augmented the product demand.
Segments-
Growing Demand in the Electronics & Electrical Industry Drives < 50 nm Segment
On the basis of type, the market is classified into ≥ 50 nm and < 50 nm. The < 50 nm segment is expected to rule due to its growing demand in the electronics & electrical industry.
Source:
https://www.fortunebusinessinsights.com/nickel-nano-powder-market-103702
Report Coverage
The report provides insights into the regional analysis covering different regions, contributing to the market's growth. The report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact the market. Adopting strategies by major players to introduce partnerships, collaboration, and new products will contribute to the market growth.
Drivers and Restraints
Growing Applications for Industrial and Commercial Needs to Fuel Product Demand
The growing application for industrial and commercial needs is a crucial factor that increases the demand for the product. Furthermore, rise in interest among end-users toward advanced electronic products stimulates the need for the product. The growing demand for fuel cells in the automotive industry and the rising incorporation of ceramic capacitors in telecommunications are some factors escalating the product's demand.
Meanwhile, its high processing costs could impede the nickel nano powder market growth.
Regional Insights
Rapid Advancements of Nanotechnology Nurtures Growth in Asia Pacific
Asia Pacific held a strong foothold in the nickel nano powder market share and is expected to lead the market across South Korea and China due to rapid advancements in nanotechnology.
Europe is likely to showcase excellent growth during the projected period due to rising product applications in the machinery and electronics sectors.