Nickel Acetate Market to Flourish Despite Wise Alternatives Surfacing, Suggests Fact.MR
Published : 25 Oct 2021 Industry: Chemical & Materials
As per a recent study by Fact.MR on the 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.
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 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.
Product Portfolio: The Triumph Prospect
Since the product is offered in different forms and grades consisting of various functions serving applications of various end-use industries, product portfolio has been the most influential facet for actors in the market. Players have been enhancing their market stance by seamlessly innovating better grades and the effective functioning of their offerings.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the nickel acetate market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of form (powder and liquid), function (intermediates, hydrogenation catalysts, and sealing agents), grade (technical grade, lab reagent grade, and analytical grade), application (fabric mordant, electroplating, aluminium surface treatment, ceramic glaze, and others), and end-use industry (textile industry, automotive industry, electrical & electronic industry, ceramic industry, gems & jewellery industry, and others), across key regions, namely, North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa.
About the Chemicals and Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals and materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant – Chemicals and Materials