Nickel Acetate Market Segmentation, Growth Rate and Research Report
Global nickel
acetate market is expected to grow at a significant CAGR of
5.23% in the upcoming period as the scope and its applications are rising
enormously across the globe. Nickel acetate is also termed as nickel (II)
acetate tetrahydrate, nickelous acetate tetrahydrate, or nickel diacetate
tetrahydrate is dull green odorless solid used for electroplating. An
abstemiously water-soluble crystalline nickel source decomposes to nickel oxide
on heating. It is formed by treating nickel (II) carbohydrate with acetic acid.
Its molecular formula is C4H6NiO4 and
molecular weight is 176.781 g/mol. It is exclusively used in the combination of
polynuclear-nickel polyoxotungstate cluster compounds that are perfect for the
design of molecular magnets. It is used as a catalyst and alumite sealing
material. It has an advantage of light fastness and increased weather on
coatings dyed with organic dyes.
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The factors that are playing a major
role in the growth of nickel acetate market are growth in technological
enhancements, growing population, and high demand from manufacturers. However,
strict government policy and its hazardous effects may restrain overall market
growth in the years to come. Nickel acetate market is segmented based on forms,
product type, application, and region.
Powder and crystal are the forms that
could be explored in nickel acetate in the forecast period. (5N) 99.999%
nickel(II) acetate tetrahydrate, (4N) 99.99% nickel(II) acetate tetrahydrate,
(3N) 99.9% nickel(II) acetate tetrahydrate, and (2N) 99% nickel(II) acetate
tetrahydrate are the product types that could be explored in nickel acetate in
the forecast period. The market may be categorized based on applications like
aluminum surface treatment, exact plating, ceramics glaze, chemical industry,
petroleum industry, coinage, and others that could be explored in the forecast
period.
Globally, North America accounted for
the substantial market share of nickel acetate and is estimated to lead the
overall market in the years to come. The reason behind the overall market
growth could be the presence of key manufacturers in this region. The United
States and Canada are the major nickel producer of nickel acetate. Europe and
the Asia Pacific are also estimated to have a positive influence on future
growth. Europe is the second largest region with significant market share.
However, Asia Pacific is estimated to grow at the highest CAGR in the forecast
period.
The key players of the nickel acetate
market are LabNetwork, Angene Chemical, eInhibitors, AKos Consulting &
solutions, MolPort, Chembase.cn, Yuhao Chemical, Parchem, Vesino Industrial
Co., Ltd., AN Pharma Tech, Biosynth, ChemTik, AA BLOCKS, and MP Biomedicals.
These players are concentrating on inorganic growth to sustain themselves
amidst fierce competition.
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