Nickel Acetate Market Size

Nickel Acetate Market size was valued at USD 54.18 Billion in 2023 and is anticipated to reach USD 92.5 Billion by the end of 2036, registering around 4.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of nickel acetate is assessed at USD 56.46 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.