Nickel Acetate Market Growth Forecast at 3.2% CAGR by 2031
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.
Key Takeaways from Market Study
- The nickel acetate market is anticipated to add 1.5X value by 2031.
- North America to be the most opportunistic pocket holding more than 32% market share throughout the forecast period.
- The automotive industry to experience optimistic glaze by rising at a CAGR of 3.7% over the assessment period.
- Among the applications, electroplating has been the fastest-growing segment globally.
- Nickel acetate with intermediate function to gain 133 BPS by 2031.
“Strengthened supply chain network backed by market players to stimulate nickel acetate market growth,” says a Fact.MR analyst.
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Key Segments of Powder Nickel Acetate Industry Survey:
- By Form
- Powder Nickel Acetate
- Liquid Nickel Acetate
- By Function
- Intermediates
- Hydrogenation Catalysts
- Sealing Agents
- By Grade
- Technical Grade
- Lab Reagent Grade
- Analytical Grade
- By Application
- Fabric Mordant
- Electroplating
- Aluminum Surface Treatment
- Ceramic Glaze
- Others
- By End-use Industry
- Textile Industry
- Automotive Industry
- Electrical & electronics industry
- Ceramic Industry
- Gems & Jewellery Industry
- Others
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