Nickel Acetate Market Share

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 2036. 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.