Cobalt Acetate Market Overview
The global Cobalt Acetate Market is projected to grow at a CAGR of 5.9% during the forecast period, 2023-2030.
Cobalt acetate is a tetrahydrate form of the cobalt salt of acetic acid, which is pink in colour. The chemical's chemical formula is Co (CH3CO2)2 4 H2O. The chemical is used as a catalyst, an oil-drying agent, and an ingredient in paints, coatings, and varnishes to help them harden.
The market will rise due to rising demand from the paints and coatings industry, where it is utilized as precursors for drying agents, transition metal complexes, and salcomine. Furthermore, demand from chemical industries that use cobalt acetate crystals as precursors for other chemicals is expected to boost the overall market growth.
On the other hand, the expansion of the cobalt acetate crystal market is likely to be limited due to the hazardous nature of the chemical, which can cause asthma, allergies, and even cancer.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Type, Application, and Region. |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Coremax Corporation, Nanjing Chemical Reagent, Freeport Cobalt, Mechema Chemicals International, ICoNiChem, Umicore, XiaXian Yunli Chemical, Kansai Catalyst, Full Yield Industry, Liaoyang Synthetic Catalyst, Jiangxi Nuclear Industry, Dalian Well, Jinhaiwan Chemical, TIANFU CHEMICAL. |
Covid-19 Impact on Cobalt Acetate Market
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Cobalt Acetate Market Segment Overview
Based on Application, Catalysts is one of the largest segments in the global Cobalt Acetate Market. Cobalt acetate is a precursor to a variety of oil drying agents, which act as catalysts to harden paints and varnishes. In the synthesis of materials, catalysts, and complexes, anhydrous cobalt acetate is a common source of cobalt.
Cobalt Acetate Market, By Type
· Cobalt Acetate Solution
· Cobalt Acetate Crystal
Cobalt Acetate Market, By Application
· Paint Driers
· Catalysts
· Pigment & Textile Dying
· Others
Cobalt Acetate Market Regional Overview
In terms of geography, the global Cobalt Acetate market is classified into North America, South America, Europe, Asia Pacific, and Middle East & Africa. The Asia Pacific is expected to hold the largest share of the global Cobalt Acetate market. This is due to a large number of paints and coating manufacturing companies. North America is the second-largest region for the market. This is because of the high expenditure on R&D for additives in paints and coatings. Moreover, Europe is projected to show remarkable growth in the coming years. This is due to the growing demand from end-use sectors. Further, Latin America and the Middle East, and Africa are expected to show noteworthy growth in the estimated period.
Cobalt Acetate Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Cobalt Acetate Market, Key Players
· Coremax Corporation
· Nanjing Chemical Reagent
· Freeport Cobalt
· Mechema Chemicals International
· ICoNiChem
· Umicore
· XiaXian Yunli Chemical
· Kansai Catalyst
· Full Yield Industry
· Liaoyang Synthetic Catalyst
· Jiangxi Nuclear Industry
· Dalian Well
· Jinhaiwan Chemical
· TIANFU CHEMICAL
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Cobalt Acetate market?
The market will rise due to rising demand from the paints and coatings industry, where it is utilized as precursors for drying agents, transition metal complexes, and salcomine
Q2. What are the restraining factors for the global Cobalt Acetate market?
The expansion of the cobalt acetate crystal market is likely to be limited due to the hazardous nature of the chemical, which can cause asthma, allergies, and even cancer
Q3. Which segment is projected to hold the largest share in the global Cobalt Acetate market?
The Catalysts segment is projected to hold the largest share in the global Cobalt Acetate market
Q4. Which region holds the largest share in the global Cobalt Acetate market?
North America holds the largest share in the global Cobalt Acetate market
Q5. Which are the prominent players in the global Cobalt Acetate market?
Coremax Corporation, Nanjing Chemical Reagent, Freeport Cobalt, Mechema Chemicals International, ICoNiChem, Umicore, XiaXian Yunli Chemical, Kansai Catalyst, Full Yield Industry, Liaoyang Synthetic Catalyst, Jiangxi Nuclear Industry, Dalian Well, Jinhaiwan Chemical, TIANFU CHEMICAL. are some key players in the global Cobalt Acetate market
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Cobalt Acetate Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Cobalt Acetate Solution
- 5.2.2. Cobalt Acetate Crystal
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Paint Driers
- 5.3.2. Catalysts
- 5.3.3. Pigment & Textile Dying
- 5.3.4. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Cobalt Acetate Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Cobalt Acetate Solution
- 6.2.2. Cobalt Acetate Crystal
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Paint Driers
- 6.3.2. Catalysts
- 6.3.3. Pigment & Textile Dying
- 6.3.4. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Cobalt Acetate Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Cobalt Acetate Solution
- 7.2.2. Cobalt Acetate Crystal
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Paint Driers
- 7.3.2. Catalysts
- 7.3.3. Pigment & Textile Dying
- 7.3.4. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Cobalt Acetate Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Cobalt Acetate Solution
- 8.2.2. Cobalt Acetate Crystal
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Paint Driers
- 8.3.2. Catalysts
- 8.3.3. Pigment & Textile Dying
- 8.3.4. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Cobalt Acetate Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Cobalt Acetate Solution
- 9.2.2. Cobalt Acetate Crystal
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Paint Driers
- 9.3.2. Catalysts
- 9.3.3. Pigment & Textile Dying
- 9.3.4. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2021
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Coremax Corporation
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Nanjing Chemical Reagent
- 10.6. Freeport Cobalt
- 10.7. Mechema Chemicals International
- 10.8. ICoNiChem
- 10.9. Umicore
- 10.10. XiaXian Yunli Chemical
- 10.11. Kansai Catalyst
- 10.12. Full Yield Industry
- 10.13. Liaoyang Synthetic Catalyst
- 10.14. Jiangxi Nuclear Industry
- 10.15. Dalian Well
- 10.16. Jinhaiwan Chemical
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
