Nickel Acetate Market size is poised to cross USD 80 Billion by the end of 2035, growing at a CAGR of 4% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of nickel acetate was over USD 52 Billion. 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 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 makes it a highly viable market and is forecasted to grow at a 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). Therefore, all these factors are anticipated to hike the market growth over the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
4% |
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Base Year Market Size (2022) |
USD 52 Billion |
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Forecast Year Market Size (2035) |
USD 80 Billion |
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Regional Scope |
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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. Out of these segments, the aluminum surface treatment segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to 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. Nickel acetate is used in surface treatment and precise plating along with ceramic glazing and industrial fabric dying. Hence, all these factors are expected to propel the growth of the segment over the forecast period.
The global nickel acetate market is also segmented and analyzed for demand and supply by application into electroplating, ceramics glaze, aluminum surface treatment, coinage, textile dyeing, and others. Amongst these segments, the ceramics glaze segment is expected to garner a significant share. The growth of the segment can be ascribed to escalated utilization of ceramic in home décor which is further boosted by the higher demand for home decor product such as, pottery, decorative lamps, lightings, and others. For instance, it estimated that the home décor sales in India alone is projected to hit approximately USD 2 billion by the end of 2027. Such higher utilization of nickel acetate has spurred the production of this material which is further anticipated to boost the growth of the ceramic glaze segment during the forecast period.
Our in-depth analysis of the global nickel acetate market includes the following segments:
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By Product Form |
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By Product Type |
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By Purity |
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By Application |
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Asia Pacific Market Forecast
The Asia Pacific nickel acetate market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the increasing mass production of nickel acetate, the establishment of new manufacturing plants across the region, and the rapid industrialization of developing countries such as 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 years, with a 7.5% increase in the production of inorganic chemicals such as Nickel Acetate, according to the latest research conducted by the National Investment Promotion & Facilitation Agency.
North America Market Forecast
Furthermore, the market in North America region is also projected to witness a noteworthy growth during the forecast time. Surge in the industrialization backed by higher fundings and presence of the robust automotive industry with a huge demand for nickel acetate is projected to expand the market size in the region over the forecast period. Nickel estate is used in plating purposes in the automotive industry. For instance, around 15 million units of automobiles were sold across the United State in 2021.
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.
ProChem Inc. announced the addition of new inorganic compounds to its catalog for use in Energy, Electronics, and Chemical Synthesis Applications.
Author Credits: Smruti Ranjan, Rajrani Baghel
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