The nickel acetate market is projected to register a CAGR of 4% during the forecast period, up from US$ 52 Bn in 2021 to reach a valuation of US$ 80 Bn by 2032.
The nickel acetate market is anticipated to show promising growth prospects during the forecast period as a result of growing competition. New competitors are offering a variety of options at reasonable pricing to fulfil the demand for nickel acetate making it more accessible to customers in the global nickel acetate market.
Nickel acetate is a very pure anti-caking salt that is utilised in all plating procedures. Nickel acetate is manufactured particularly for use as an anodize sealer.
Nickel acetate is manufactured to exacting standards using carefully chosen raw materials and subjected to stringent quality control testing. Demand for nickel acetate in the industry is increasing tremendously as a result of these uses. Nickel acetate is used in a variety of applications hence improving sales of nickel acetate, including coinage, ceramic glazes, and aluminium surface treatments.
Report Attribute
Details
Estimated Base Year Value (2021)
US$ 52 Billion
Expected Market Value (2022)
US$ 54 Billion
Anticipated Forecast Value (2032)
US$ 80 Billion
Projected Growth Rate (2022-2032)
4 % CAGR
Sales of nickel acetate is expected to rise significantly. In addition to this, sales of nickel acetate are rising on account of US$ 63.2 Bn by 2026. Increasing demand for nickelacetate is also projected to contribute to the growth of the nickel acetate market share.
Nickel acetate forms a corrosion-resistant layer on metal surfaces, preventing them from rusting and oxidising. It is a water-soluble source of nickel that degrades to nickel oxide upon heating, and metallic acetates are inorganic salts composed of the acetate anion and a metal cation. Sales of nickel acetate are increasing since it's a great material for manufacturing catalysts, nanoscale materials, and ultra-pure chemicals.
Manufacturers in the nickel acetate market get a big platform from which to serve the whole sales of nickel acetate. The worldwide nickel acetate market is seeing increased competition. With growing competition, new competitors are offering a variety of options at reasonable pricing, fulfilling the demand for nickel acetate more accessible to customers.
Eastmen Chemicals, Noah Technologies Corporation, Fairsky industrial co. Ltd., Hangzhou Yuhao Chemical Technology Co. Ltd., Zhangjiagang Huayi Chemical Co. Ltd., Palm international Inc., Accela ChemBio Inc., Axiom Chemicals Pvt. Ltd., Vesino industrial co. Ltd., Univertical, Forbes pharmaceuticals, Hunter Chemical LLC, ProChem Inc, Jilin Jien Nickel Industry Co. Ltd., TIB Chemicals AG, Seidler Chemical Co, Inc., Foshan Qiruide Additives co. Ltd., Alconix Corporation and others are some of the leading participants in the nickel acetate market.
What are the Key Propellers to the Nickel Acetate Market Share?
Nickel acetate is utilised in a variety of applications, including as a catalyst in aluminate sealing materials and in coinage so sales of nickel acetate are predicted to skyrocket. Nickel acetate forms a corrosion-resistant layer on metal surfaces, preventing them from rusting and oxidising which helps the sales of nickel acetate by increasing its applications.
Additionally, technological advancements and the increasing demand for nickel acetate in aluminium surface treatment are important factors boosting the nickel acetate market. However, due to its dangerous effects on human health.
Irritation and dermatitis are some of the factors through which sales of nickel acetate will decline, hence restraining the global demand for nickel acetate in the near future. Several of the leading producers fulfilling the demand for nickel acetate have been identified as being active in activities such as mass production and the establishment of new manufacturing facilities in developing countries contributing to the nickel acetate market share.
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Which is the Key Nickel Acetate Market?
When it comes to geography, the Asia-Pacific region is likely to lead the worldwide sales of nickel acetate and is expected to maintain its dominance during the forecast years. China is predicted to dominate the nickel acetate market in the Asia-Pacific region, both in terms of production and consumption.
North America is likely to obtain a sizable revenue share in the approaching period. Europe is expected to be followed by North America in the worldwide demand for nickel acetate, with both regions expected to exhibit growth in sales of nickel acetate during the estimated period.
Latin America's nickel acetate market is expected to stagnate in the future years. Although the Middle East and Africa account for a relatively modest proportion of the market, sales of nickel acetate are likely to expand significantly in the near future.
How Strong is the Competition in the Nickel Acetate Market?
The report consists of key players, contributing to the nickel acetate market share. It also consists of organic and inorganic growth strategies adopted by market players to improve their market positions. This exclusive report analyzes the competitive landscape and nickel acetate market share acquired by players to strengthen their market position.
Eastmen Chemicals, Noah Technologies Corporation, Fairsky industrial co. Ltd., Hangzhou Yuhao Chemical Technology Co. Ltd., Zhangjiagang Huayi Chemical Co. Ltd., Palm international Inc., Accela ChemBio Inc., Axiom Chemicals Pvt. Ltd., Vesino industrial co. Ltd., Univertical, Forbes pharmaceuticals, Hunter Chemical LLC, ProChem Inc, Jilin Jien Nickel Industry Co. Ltd., TIB Chemicals AG, Seidler Chemical Co, Inc., Foshan Qiruide Additives co. Ltd., Alconix Corporation and others are some of the leading participants in the nickel acetate market.
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Recent developments of the Nickel Acetate Market
In automobile fasteners, bolts, hydraulic systems, shafts, and several other engine components, nickel plating is favoured over salt sprays. Additionally, nickel possesses a slew of favourable qualities, including superior corrosion resistance, wear and abrasion resistance, and ductility, and is thus widely sought after.
Aluminium surface treatment is expected to maintain its predominance in application with a respectable CAGR of 3.1% through 2031. By 2031, unique end-use applications will have a 29% market share in the automobile sector. Demand for technical grade to reach 1.5 KT by 2031.
Scope Of Report
Report Attribute
Details
Growth rate
CAGR of 4% from 2022 to 2032
Base year for estimation
2021
Historical data
2015 - 2020
Forecast period
2022 - 2032
Quantitative units
Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032
Report coverage
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,
Segments covered
Product form, purity, application, region
Regional scope
North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand
Country scope
U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa
As per the analysis, the nickel acetate market share is likely to be US$ 63.2 Bn by 2026.
Which is the Key Driver in the Nickel Acetate Market?
Additionally, technological advancements and the increasing demand for nickel acetate in aluminium surface treatment are important factors boosting the nickel acetate market.
