Nickel-Coated Graphite Fiber Market - Forecast(2023 - 2028)

Nickel-Coated Graphite Fiber Market Overview

Nickel-Coated Graphite Fiber Market size is estimated to reach a value of US$75.2 million by the end of 2027 after growing at a CAGR of 7.5% during 2022-2027. Nickel-coated graphite fiber is made up of graphitic carbon particles which have been encased with nickel. It has continuous thin plating of nickel. Nickel coating enhances the electrical conductivity of nonconductive thermoplastic graphite fiber composite. Polyacrylonitrile is required in the synthesis process in which nickel also serves as a catalyst. Nickel-coated carbon nanotubes are the strongest and stiffest fibers having unique properties such as low density, high strength, electrical conductivity, corrosion resistance, heat resistance, etc. These versatile properties are boosting the overall growth of the global nickel-coated graphite fiber industry. It finds an application in various industries such as paints and coatings, electrical and electronics, metal industry, aviation and packaging industry.

Nickel-Coated Graphite Fiber Market COVID-19 Impact

Many industries across the globe have faced several challenges due to the COVID-19 pandemic. The industries such as the aviation and the packaging industry including many others have experienced pitfalls. Many projects in such industries have been halted due to an interrupted supply chain and employee shortages due to quarantines. Also, the production and demand in the electrical and electronics industry have declined. According to International Energy Agency, global electrical energy demand in June and July 2020 was 5-10% below from 2019 level. Moreover, there was a sharp decrease in the production in the metal industry due to the factory shutdown. Thus, with the global pause in industrial production and distribution, the demand and consumption of global nickel-coated graphite fiber have been hampered to an extent in several industries. 

Report Coverage

The “Nickel-Coated Graphite Fiber Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments of the Nickel-Coated Graphite Fiber industry.

By Product: 60% Nickel Coated, 75% Nickel Coated, 99% Nickel Coated, 99.5% Nickel Coated, 99.8% Nickel Coated, 99.9% Nickel Coated and Others.
By Method: Hydrogenation Reduction, Electroless Plating, Electrodeposition, Chemical Vapor Deposition, Electroplating, Dip Coating and Others
By End-use Industry: Paints and Coatings, Automotive (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle), Metal Industry, Electrical and Electronics, Packaging Industry, Aerospace (Commercial Aviation, Military Aviation, General Aviation) and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC) and South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and Rest of the World (the Middle East and Africa).

Key Takeaways

• Asia-Pacific is the fastest growing region in the Nickel-Coated Graphite Fiber Market. This growth is mainly attributed to the increased demand from the aerospace sector.
• Electrical and electronics are expected to be the significant segment owing to the surge in demand for semiconductors, batteries and transistors.
• Global Nickel-coated graphite fiber plays an important role in several industries such as the metal industry and packaging industry which is expected to provide a significant growth opportunity for the Nickel-Coated Graphite Fiber Market size.

Nickel-Coated Graphite Fiber Market Segment Analysis – by Product

The 99.8% nickel-coated segment held the largest Nickel-Coated Graphite Fiber Market share in 2021 and it is expected to grow with a CAGR of around 7.0% during the forecast period. Graphite fiber coated with nickel increases its strength and toughness which is required in various metallurgical applications in metal industry. High-quality nickel-coated graphite not only retains the main properties of the metal coating and coating particles, but also provides good overall performance as a result of the interaction between the components under composite action. 99.8% nickel coated is mainly used in nickel steel alloy casting. According to Nickel Institute, more than 2/3rd of nickel produced serves in stainless steel production. Thus, increasing demand in the metal industry driving the growth of the Nickel-Coated Graphite Fiber Market size.

Nickel-Coated Graphite Fiber Market Segment Analysis – by End-use Industry

The electrical and electronics segment held the largest share in the Nickel-Coated Graphite Fiber Market share in 2021 and it accounted for around 22%. Nickel-coated graphite fiber has several applications in electrical and electronics. Nickel-coated graphite fiber have a high conductivity and heat resistance. Nickel coatings enhances the quality by adding electrical and shielding performance. Thermal and electrical properties of nickel-coated graphite fiber have a wide range of applications in electrical and electronics such as semiconductors, capacitors, batteries, transistors etc. According to Allianz Trade, semiconductor revenue in 2021 globally reached US$ 553 billion. Thus, surge in demand of nickel-coated graphite fiber in electrical and electronics is boosting the global market.

Nickel-Coated Graphite Fiber Market Segment Analysis – by Geography

The Asia Pacific is the leading region accounted for the largest share in the Nickel-Coated Graphite Fiber Market share in 2021 and held nearly 34% of market share. This growth is mainly attributed to the increase in demand for nickel-coated graphite fiber in aerospace end use industry including commercial aviation and military aviation. Graphite fiber coated with nickel has low density and high strength which ideally finds an application in aerospace. Low-density material reduces the fuel cost in aviation. Aerospace industry in Asia Pacific is improving from covid impact. According to International Air Transport Association, aerospace industry’s losses during covid in 2021 have decreased from $11.2 billion to $2.4 billion in 2022. Thus, the growth in aerospace industry is boosting the market growth.

Nickel-Coated Graphite Fiber Market – Drivers

Surge in the Packaging industry

Nickel-coated graphite fiber has superior handling properties and shielding capacity. This property has applications in packaging such as flexible packaging. Stand-up pouches and reclosable pouches are examples of flexible packaging. Flexible packaging is beneficial in several ways. It is economical in terms of production cost. Consumers also prefer flexible packaging due to its attractive look and easy handling. According to PKG Brand Design, 71% of Americans prefer flexible packaging over rigid packaging. Thus, the surge in demand for packaging is boosting the demand for the Nickel-Coated Graphite Fiber Market.

Growth in Coatings Industry

Nickel-coated graphite fiber finds an application in the coating industry. Graphite fiber coated with nickel is chemically resistant to corrosive environments and has strong initial wear properties in both dry and wet applications. It provides uniform and continuous coatings. Besides the coating is smooth and adherent along the length and diameter of the filament. For instance, according to ECHEMI Technology Co. Ltd., the Asia Pacific region accounted for around 50% of the global coating market in 2020. Thus, the growth of the coating industry boosted the demand for the Nickel-Coated Graphite Fiber Market. 

Nickel-Coated Graphite Fiber Market – Challenge

Initial Investment in Optimization

Graphite fiber with nickel coated has application in many industries owing to its versatile properties such as thermal and electrical conductivity, low density, etc. However, the composition of nickel coating needs to be optimized depending on application and requirement. It requires a trial and error approach. It also requires a huge investment in research and development. The inappropriate composition will affect the overall quality and functioning of the product adversely. This acts as a hurdle for not only established companies but also acts as a barrier for new entrants. Thus, huge research and development investment is restraining the growth of the global market.

Nickel-Coated Graphite Fiber Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Nickel-Coated Graphite Fiber Market. The Nickel-Coated Graphite Fiber Market's top 10 companies include -

1. Nippon Graphite
2. Teijin Limited
3. Imerys SA
4. Tokai Carbon Company
5. Nantong Yangtze
6. Mitsubishi Chemical
7. Hexcel Corporation
8. Hitachi Ltd.
9. Mersen
10. Skaland Graphite AS

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