Menu ×

CHEMICALS AND ADVANCED MATERIALS

Nickel Acetate Market Analysis by Product Form (Crystal, Liquid, and Powder); by Product Type (Military Grade, Reagent Grade, and Food Grade); by Purity (<99% Pure, 99% Pure, and >99% Pure); and by Application (Electroplating, Ceramics Glaze, Aluminum Surface Treatment, Coinage, Textile Dyeing, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

  • Text Size:

Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

Request Insights

Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

Read More

IN THE NEWS

  • Jan 13, 2020: Hunter Chemical LLC has launched a new conductive nickel product- the Conductive Grade AH55C, to its line of nickel powders. AH55C is suitable for EMI/RFI shielding coatings and caulk.

  • April 25, 2022: ProChem Inc. announced the addition of new inorganic compounds to its catalog for use in Energy, Electronics, and Chemical Synthesis Applications.

Global Nickel Acetate Market Highlights Over 2022 - 2031

Nickel Acetate Market Forecast By 2031

The global nickel acetate market is estimated to garner a revenue of roughly USD 80 billion by the end of 2031 by growing at a CAGR of ~4% over the forecast period, i.e., 2022 – 2031.

Further, the market generated a revenue of USD 50 billion in the year 2021. The growth of the market can be attributed to the rising demand for the use of nickel acetate in various industries, such as, automobiles, electronics, electrical, aesthetics, and metallurgy. In addition to protection from rust, nickel acetate is used in automotive plating in order to brighten the finish on metal or non-metal parts, and metalize plastic parts to improve their sturdiness. With worldwide car sales growing steadily from around 60 million in the year 2020 to more than 70 million in 2021, as per the latest survey of the automotive industry, the global nickel acetate market is predicted to grow to a significant size.

Nickel Acetate Market Overview 2031

Get more information on this report: Request Sample PDF

Nickel Acetate is a green crystalline inorganic compound used in textile dyeing processes, electroplating, anodization applications, as an intermediate catalyst, and in surface treatment. The versatility, popularity, and utility in diverse fields of applications of nickel acetate make it a highly viable market and is forecasted to grow to considerable market size. For instance, the textile industry in the U.S is the second largest exporter of textile-related products in the world and the exports were valued at around USD 28 Billion in 2021, according to the National Council of Textile Organizations (NCTO).

Global Nickel Acetate Market: Growth Drivers and Challenges

Growth Drivers

  • Advancements in Automobile Industry – Nickel acetate is employed in the manufacture of fasteners, bolts, hydraulic systems, shafts, and other engine components because of features, such as, corrosion resistance, wear and abrasion resistance, and ductility. Increasing improvements in the automobile industry are expected to propel the global nickel acetate market growth. According to the International Trade Administration, China has the world’s largest automobile market in terms of both annual sales and manufacturing output, and the production of vehicles is expected to reach 35 million vehicles by 2025.

  • Growth of Textile Industry – Nickel Acetate is used as a mordant in textile dyeing to fix the dye onto fabric. The booming textile industry is predicted to propel the nickel acetate market. India alone exported around USD 30 billion worth of textiles between April and December of 2021.

  • Advancements in Aerospace Industry - Nickel-based plating has exceptional adhesion and corrosion protection and provides a uniform coating of thickness, which is paramount to the aerospace industry. According to the United States Aerospace & Defense Industry, the total aerospace and defense industry sales revenue was a combined value of USD 382 Billion. The advancing aerospace industry is anticipated to propel the nickel acetate market growth.

  • Increased Use in Electronics - Nickel plating is widely used in electronic parts, such as, microprocessors and integrated circuits due to its reliability and functionality. As per recent studies, the number of smartphones sold worldwide rose from about 1.3 billion in 2020 to around 1.4 billion in the year 2021.

  • Increased Use in Aesthetic Jewelry – Nickel Acetate is used for decorative purposes to give a bright, shiny appearance to jewelry and also to provide resistance to corrosion and wear. India saw around a 54% rise in jewelry exports in 2021-22 compared to the year before, according to the India Brand Equity Foundation.

Challenges

  • Contact with Skin May Cause Dermatitis
  • Carcinogenic in Nature
  • Produces Toxic Fumes When Heated

The global nickel acetate market is segmented and analyzed for demand and supply by application into electroplating, ceramics glaze, aluminum surface treatment, coinage, textile dyeing, and others. Of these segments, the aluminum surface treatment division is expected to grow during the forecast period on account of its myriad applications, such as, in the construction industry, transportation industry, and the manufacture of electrical and consumer goods. As per the latest studies, more than USD 1 trillion worth of private and public structures are constructed in the United States alone, every year.

Major Macro-Economic Indicators Impacting the Market Growth

Nickel Acetate Market Growth

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global Nickel Acetate Market Regional Synopsis

Regionally, the global nickel acetate market is categorized into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2031 due to the greater presence of major key players. The mass production of nickel acetate, the establishment of new manufacturing plants across the region, and the rapid industrialization of developing countries like China and India are expected to propel the growth of the market. For instance, India’s production of major chemicals shot up by 14.09% in 2021-2022 compared to the previous year, with a 7.5% increase in the production of inorganic chemicals like Nickel Acetate, according to the latest research conducted by the National Investment Promotion & Facilitation Agency.

Nickel Acetate Market Share

Source – Research Nester

Get more information on this report: Request Sample PDF

The global nickel acetate market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global nickel acetate market includes the following segments:

By Product Form

  • Crystal
  • Liquid
  • Powder

By Product Type

  • Military Grade
  • Reagent Grade
  • Food Grade

By Purity

  • <99% Pure
  • 99% Pure
  • >99% Pure

By Application

  • Electroplating
  • Ceramics Glaze
  • Aluminum Surface Treatment
  • Coinage
  • Textile Dyeing
  • Others

Top Featured Companies Dominating the Global Nickel Acetate Market

  • Merck KGaA
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Fairsky Industrial CO., Limited
  • Univertical LLC
  • Noah Chemicals Corporation       
  • Palm Commodities International, LLC
  • Zhangjiagang Huayi Chemical Co. Ltd.
  • Hunter Chemical, LLC
  • ProChem Inc.
  • TIB Chemicals AG
  • Qiruide Additives Co.,Ltd.

FREQUENTLY ASKED QUESTIONS


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions | LOB

Copyright © 2022 Research Nester. All Rights Reserved