The Nickel Acetate Market is projected to grow at a 3.2% CAGR from 2021 to 2031, driven by demand in the automotive industry and significant market share held by major companies.
As per a recent study by Fact.MR on the Powder nickel acetate market, sales are expected to be valued at more than US$ 52 Mn in 2021, and increase at a CAGR of 3.9% over the forecast period of 2021-2031. Fact.MR, a market research and competitive intelligence provider, analyses that the market is set to witness growth based on exclusive usage of the material in the automotive industry.
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The slightly consolidated market for nickel acetate is dominated by giant companies such as Palm Commodities, Fairsky Special Chemicals, Univertical, Gelest, and Liangren Chemicals. These players hold an exclusive product portfolio serving various applications in different end-use industries. All these players together hold more than 55% market share, and are observed to continue their hegemony throughout the forecast period.
However, there exists a substantial probability for the evolution of more efficient alternatives for Liquid nickel acetate, similar to the case of the development of natural fabric mordants, which is witnessing faster adoption against the use of nickel acetate-based synthetic mordants.
“Strengthened supply chain network backed by market players to stimulate nickel acetate market growth,” says a Fact.MR analyst.
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The article discusses the growth forecast of the Nickel Acetate Market from 2021 to 2031, focusing on its applications and industry demand.
The growth is driven by the exclusive usage of nickel acetate in the automotive industry and its applications in electroplating.
Major players include Palm Commodities, Fairsky Special Chemicals, Univertical, Gelest, and Liangren Chemicals.
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