"Innovative Market Solutions to Help Businesses Make Informed Decisions"
Cobalt acetate is a pink colored cobalt salt of acetic acid, that is commonly found in tetrahydrate form. The chemical formula for the chemical is Co (CH3CO2)2·4 H2O. The chemical is used as catalyst, oil drying agents, and additives that allows the paints, coatings and varnishing to harden.
Increasing demand from paints and coatings industry as it is used as precursors for drying agents, transition metal complex, and salcomine, shall drive the market growth. Additionally, the demand from chemical industries that employ cobalt acetate crystals as precursors for other chemicals is likely to create augment the overall market.
However, growth of the cobalt acetate crystal market is expected to limit due to the poisonous nature of the chemical which can cause asthma, allergies, and even carcinogenic in nature.
Key Market Driver -
Increasing demand from paints and coating industries.
Key Market Restraint -
Poisonous nature
Based on type, the market is segmented into crystalline and amorphous. Based on application, the market is segmented into, catalyst, paint drier, pigment and textile dyeing, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global cobalt acetate crystals market consists of global & regional players operating. Some of the key players in the market include Coremax Corporation, Umicore, Nanjing Chemical Reagent, Liaoyang Synthetic Catalyst, Jiangxi Nuclear Industry, TIANFU CHEMICAL, Dalian Well, Jinhaiwan Chemical, XiaXian Yunli Chemical, Freeport Cobalt, Mechema Chemicals International, American Elements, and Others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to hold the largest share attributed to the large number of paints and coating manufacturing companies. North America is estimated to be second-largest market due to the high expenditure on R&D for additives in paints and coatings. Europe is expected to show significant growth due to the increasing demand from end-use sectors. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.
To gain extensive insights into the market, Request for Customization
ATTRIBUTE | DETAILS |
By Type |
|
By Application |
|
By Geography |
|
US +1 833 909 2966 ( Toll Free )