The nickelnano 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 theforecast period. The markethas grown terrifically well due to its growing applications in several
industries such as research &laboratories, medical devices, nanomaterials, and electronics devices. Fortune Business Insights™ statedthis in a report titled, "Nickel Nano Powder Market,2022-2029."
COVID-19 Impact-
Low Availability of Raw Materials Impede Market Growth
Aconsiderable impact was observed on nickel nanopowder during the outbreak. Low availability of raw materials and decline in demandfrom end-users have affected product demand negatively. Meanwhile, the growing demandfor 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:
Report Coverage
The report provides insights into the regionalanalysis 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 introducepartnerships, collaboration, and new products will contribute to the market
growth.
Drivers andRestraints
Growing Applications for Industrial andCommercial Needs to Fuel Product Demand
The growingapplication for industrial and commercial needs is a crucial factor that increases the demandfor 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 aresome factors escalating the product's demand.
Meanwhile, its high processing costs couldimpede the nickel nano powder market growth.
Regional Insights
Rapid Advancements of Nanotechnology Nurtures Growthin Asia Pacific
Asia Pacific held astrong foothold in the nickel nano powder market share and isexpected to lead the market across South Korea and China due to rapid
advancements in nanotechnology.
Europe is likely toshowcase excellent growth during the projected period due to rising product
applications in the machinery and electronics sectors.
