Cobalt Carbonate Market Outlook - 2027
Cobalt carbonate is an inorganic compound, which is a reddish paramagnetic solid, and is the intermediate in the hydrometallurgical purification of cobalt from its ores. It is insoluble in cold and hot water but soluble in acids. Cobalt carbonate naturally occurs as a rare red/pink mineral spherocobaltite. It is a precursor to cobalt carbonyl and various cobalt salts. It is a component of dietary supplements since cobalt is an essential element and is also used in blue pottery glazes.
COVID-19 scenario analysis
The outbreak of the COVID-19 pandemic has severely affected the global cobalt carbonate market.
- Owing to the implementation of stringent government regulations on restricting movements & maintaining social distancing and lockdown implemented in several nations, many end-user industries such as paints, battery manufacturers, and chemical industries had to reduce or stop their production, which led to decrease in the demand for cobalt carbonate.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis:
The usage of cobalt carbonate in the paint industry and plating chemicals & catalysts is expected to drive the growth of the global cobalt carbonate market. In addition, cobalt carbonate has a wide array of applications in alloys, catalysts, pigments, magnets, and soaps. Being an essential element for well-being, it is used as a dietary supplement. Moreover, cobalt carbonate is widely used as cathodes in batteries, automobiles, and electronic devices. Furthermore, it finds its application in reparation of alloys that are used in jet engines, due to the high heat resistance properties of the alloy.
However, high cost of cobalt nitrate may act as a restraining factor of the global cobalt carbonate market.
The Asia-Pacific region holds the largest share of the cobalt carbonate market with growing demands in the emerging economies such as India and China. It is followed by Europe due to its increasing applications in the automobile sector. Considerable growth is further anticipated in the markets of North America and Latin America region in the near future.
Key benefits of the report
- This study presents the analytical depiction of the global cobalt carbonate industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cobalt carbonate market share.
- The current market is quantitatively analyzed to highlight the global cobalt carbonate market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global cobalt carbonate market research report:
- Which are the leading market players active in the global cobalt carbonate market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Cobalt Carbonate Market Report Highlights
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 Key Market Players | Celtic Chemicals, Kezi Industries, IS Chemical Technology, Imerys Pigments, Ark Pharm Inc., AN PharmaTech, abcr GmbH, MP Biomedicals, Finetech Industry Limited, VladaChem, and Aurora Fine Chemicals LLC |
 Other Key Market Players | Calche, Chemical & Mineral Industries Pvt. Ltd, FUJIAN SANMU NANO CALCIUM CARBONATE CO. LTD |
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