Research Nester published a report titled “Nickel Acetate Market: Global Supply & Demand Analysis & Opportunity Outlook 2022-2031” which delivers a detailed overview of the global nickel acetate market in terms of market segmentation by product form, product type, purity, application, and by region.
Further, for an in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of the current and future market trends that are associated with the growth of the market.
The global nickel acetate market is estimated to attain a revenue of approximately USD 80 billion by the end of 2031 by growing at a steady CAGR of ~4% over the forecast period, i.e., 2022 – 2031. This growth can be attributed to the versatility and functionality of nickel acetate, an inorganic compound, which makes it useful in multiple applications such as in automobiles, electronics, electrical goods, aesthetics, and metallurgy. It provides protection to automobiles from corrosion and abrasion. With worldwide car sales growing steadily from around 60 million in the year 2020 to more than 70 million in 2021, according to a survey of the automotive industry, the global nickel acetate market is predicted to grow to a significant size.
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, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2031 owing to the presence of competitive market players. The large-scale production of nickel acetate and the launch of new manufacturing plants across the region 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.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. has also been covered and displayed in the research report.
Advancements in Aerospace Industry to boost the Market Growth
Nickel-based plating is a standard procedure in the manufacturing of parts of aircraft. It provides excellent adhesion and corrosion protection, which is vital to the safety and growth of the aerospace industry. According to the United States Aerospace & Defense Industry, the total sales revenue was USD 382 billion in 2020. The advancing aerospace industry is anticipated to propel the nickel acetate market growth.
However, factors like nickel acetate causing skin irritation, cancer, and emitting toxic fumes when heated are expected to operate as key restraints to the growth of the global nickel acetate market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global nickel acetate market which includes company profiling of Merck KGaA, 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., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global nickel acetate market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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