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Nickel Based Metal Porous Materials Market - Forecast(2023 - 2028)
Nickel Based Metal Porous Materials Market Overview
Nickel based metal
porous materials market size is forecast to reach US$523.7 million by 2027,
after growing at a CAGR of 4.0% from 2022 to 2027. Globally, the rising demand
for nickel based metal porous materials owing to its electrical and thermal
conductivity, large specific surface area, high specific strength, good sound
absorption and noise reduction capabilities, and great permeability in several
end-use sectors is estimated to drive the market growth. Metal porous materials
such as sintered porous metal, metal fiber felt, nickel
foam, and others
have become widely utilized functional materials. With increased demand for
nickel based metal porous materials in the metallurgy, novel catalyst,
electronic device, biomedicine, and other areas in recent years, higher
requirements for their porosity and pore structure properties have been proposed.
Thus, which is also further estimated to drive the market growth over the
forecast period.
COVID – 19 Impact:
During the COVID-19 pandemic, many industries
had suffered a tumultuous time and it was no different for the global nickel based
metal porous materials market. Many governments across the globe implemented
lockdown regulations and factories & production facilities in many sectors
came to a halt. The supply chain was greatly disrupted as many businesses
followed lockdown protocols. During the pandemic, there was an unprecedented
decline in the chemical industry as well as in the automotive industry. For
instance, according to the Organisation Internationale des Constructeurs
d’Automobiles (OICA), the production of passenger vehicles declined from 16.9% in
2019 to 2020. Thus, this hampered the demand for nickel based metal porous materials
as sintered porous metal filter, nickel fiber
felt, and others,
are widely used in these industries. However, as the pandemic has largely
subsided and companies have restarted production in various sectors, the demand
for nickel based metal porous materials is also estimated to rise over the
forecast period.
Report Coverage
The report "
Nickel Based Metal Porous Materials Market Report – Forecast
(2022-2027)" by IndustryARC covers an in-depth analysis of the
following segments of the nickel based metal porous materials industry.
Key Takeaways
- The Asia-Pacific region dominates the nickel based metal porous materials market due to the rising growth and investments in the chemical and petrochemical, refineries, electronics, automotive, medical, and other end-use industries.
- Since, porous metals outperform plastic foams in terms of strength, heat resistance, and fire resistance, as well as porous ceramics in terms of thermal shock resistance, thermal and electrical conductivity, processability, and ease of installation. Thus, it has raised the demand for nickel based metal porous materials.
- In the foreseeable future, with the rising demand for nickel batteries the growth for nickel based metal porous materials is estimated to rise.
- Furthermore, fluctuating price of raw materials and rising health effects associated with nickel metals would create challenges for the growth of the nickel based metal porous materials industry.
Sintered porous
metal held the largest share in the nickel based metal porous materials market
and is expected to continue its dominance over the period 2022-2027. Sintered
porous nickel owing to its low pressure loss, good air permeability, uniform
pore size, small initial resistance, high porosity, easy back blowing, easy
cleaning, strong regeneration ability and long service life, is widely
preferred in the nickel based metal porous materials industry. Generally, after
blending and reduction, nickel porous materials generated by sintering nickel
oxalate and NaCl have a pore structure constituted of lapped pores between the
fibrous nickel particles and the prefabricated pores formed by the pore-forming
agent. Currently, sintered
nickel is a type of porous metal fiber made by pressing nickel or pre-alloyed
nickel powder into tubes or sheets and then sintering at high temperatures. In the upcoming years, the
growing demand for sintered porous metal due to its
alluring properties has
further inclined the growth of the nickel based metal
porous materials market.
Nickel Based Metal Porous Materials Market Segment Analysis – By Application
The food and
beverage sector dominated the nickel based metal porous
materials market with
27.2% in 2021 and is projected to grow at a CAGR of 4.5% during 2022-2027.
Increasing usage of sintered porous metal filter in the
food and beverage purification and filtering has driven the growth of the
industry. Rising
growth of the food and beverage sector is estimated to drive the growth of the nickel based metal porous materials industry. For instance, Biotics Research
Corporation, a nutritional supplement manufacturer, plans to invest US$9
million in the construction of an 88,000-square-foot warehouse, laboratory, and
office facility in Rosenberg, Texas. The project is expected to be completed in
2023. Also, General Assembly Holdings, a maker of specialty food items, is
proposing a refurbishment and equipment upgrades at a recently leased
42,000-square-foot processing facility in Vaughan, Ontario. The project is
expected to be completed in 2022. With such developments the demand for sintered
porous metal filter is estimated to increase and further drive the nickel
based metal porous materials market growth.
Nickel Based Metal Porous Materials Market Segment Analysis – By Geography
Asia-Pacific region dominated the nickel based metal porous materials market with a share of 43.5% in 2021. The market in the region is witnessing expansions with increasing government investments for the growth of the chemical and petrochemical, refineries, electronics, automotive, medical, and other end-use sectors in the emerging economies such as China, India, and Japan. According to the India Investment Grid (IIG), the chemical sector in India stood US$ 178 billion in 2018-19, and with a projected annual growth rate of 9.3% it is anticipated to be worth US$ 304 billion by 2024-25. Additionally, state refiners in India plan to invest 2 trillion rupees ($26.96 billion) by 2025 to increase oil refining capacity by 20% in Asia's third-largest economy. Thus, with the growth of the end-use sectors the demand for nickel based metal porous materials is estimated to rise in the APAC region over the forecast period.
Nickel Based Metal Porous Materials Market Drivers
Increasing Demand for Nickel Based Metal Porous Materials in Batteries.
The rapidly rising production and consumption
of batteries has raised the demand for nickel
based metal porous materials in recent years. Among metal porous
materials, nickel metal porous materials have the benefit of being resistant to
salt and alkali corrosion. Thus, these materials are commonly utilized in the
manufacture of functional materials such as filter materials, capillary wicks,
and battery electrodes. Also, owing to the nickel fiber felt electrode advantages
such as high porosity, large specific surface area, low internal resistance,
extended service life, quick charging, high specific power, and others, has
driven its demand in the battery production. Currently, with the rise in nickel
battery production the demand for nickel
based metal porous materials has increased. For instance, in January 2022, Tesla
entered into a new agreement to get nickel for battery cell manufacture from a
new mine in the United States. It's a historic agreement that will assist
support prospective new mining projects by sourcing crucial battery material in
the United States. Similarly, South Korea's main three electric car battery
manufacturers, LG Energy Solution Ltd., SK On, and Samsung SDI Co., are
preparing for full-scale production of next-generation batteries with high
nickel content, as per the news report published in October 2021. At the end of
2021, global automakers such as BMW AG and General Motors Co. also planned to
release new EVs outfitted with high-nickel batteries manufactured by Samsung
SDI and LG Energy, respectively. Thus, with such initiatives the demand for nickel
based metal porous materials in the production of batteries is further estimated
to rise over the projected period.
Nickel Based Metal Porous Materials Market Challenges
Health effects Associated with Nickel Metal
One of the major challenges faced by
the nickel based metal porous materials
industry are the harmful health effects associated with the nickel metal.
While nickel can be found naturally in water and soil, it is most commonly
found in areas of human contamination. It is excreted in tiny amounts through
the urine or the intestinal tract; but, in greater dosages, it is poisonous and
can cause major health problems such as dermatitis due to contact, lung cancer,
neurological issues, failure of the kidneys and liver, coronary artery disease,
and many others. Thus, due to such effects the nickel based metal porous materials market is anticipated to face
challenges in the upcoming years.
Nickel Based Metal Porous Materials Industry Outlook
Technology
launches, acquisitions, and R&D activities are key strategies adopted by
players in the nickel based metal porous materials market. Global nickel based
metal porous materials top 10 companies include:
- Martin Kurz & Company
- GKN
- MTIKorea
- Exxentis
- HENGKO Technology
- Nanoshel
- Vale
- Sumitomo Electric
- Corun
- HGP, and others
Relevant Reports:
Report Code: CMR
89851
Report Code: CMR
54965
Report Code: CMR
88979
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