Nickel Boride Alloy Market by Product Type (Ingot, Powder, Lump, Sputtering Target, Other), by Application (Deoxidizer, Nitrogen Scavenger, Alloy, Catalyst, Others), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2025-2033
The Nickel Boride Alloy Market size was valued at USD 8.84 USD Billion in 2023 and is projected to reach USD 20.54 USD Billion by 2032, exhibiting a CAGR of 12.8 % during the forecast period. Nickel boride is an alloy with nickel and boron and is used to improve various properties of an item in its application. This alloy typically comes in two types: depal. Both the structures produced in the experiment are known as nickel boride (Ni2B) and nickel-boron (NiB). Its distinctive characteristics include high hardness as well as great wear as well as corrosion resistance and oxidation. Due to these characteristics, it proves useful in various industries including as a catalytic material for chemical conversion systems, in anti-wear layers for metal parts, and as an element for forming high-strength alloys. Besides, nickel boride is employed in manufacturing electronics and had been adopted in the automotive market for the reinforcement of mechanical parts of engines. It is popularly used in sophisticated manufacturing procedures because of its capacity to enhance performance and durability.
The global Nickel Boride Alloy market is driven by multiple key trends, including:
The primary factors driving the growth of the nickel boride alloy market include:
The nickel boride alloy market also faces certain challenges and restraints:
North America is anticipated to maintain its dominance in the global Nickel Boride Alloy market throughout the forecast period, due to the continued presence of major aerospace and automotive industries in the region. However, Asia-Pacific is poised to emerge as a significant growth region, driven by expanding manufacturing sectors in countries like China and India.
In terms of segments, the Powder segment is expected to retain its leading market share, fueled by rising demand from the additive manufacturing and electronics industries. The Alloy segment, however, is projected to experience the highest CAGR, attributed to its increasing use in demanding aerospace and automotive applications.
Aspects | Details |
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Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 12.8% from 2019-2033 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 12.8% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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