Cobalt Nitrate Market Report

Market Insights

Cobalt Nitrate Market is likely to witness a CAGR of 6.3% during the forecast period. Increasing demand for high-purity cobalt from the semiconductor and electronics industries is the driving growth of the market. Furthermore, surge in demand for dyes and pigments from the textiles and architectural paint industries is also likely to drive the business growth during the forecast period.

Segments' Analysis

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Cobalt Nitrate Market Share: By Type

Based on the type, the market is segmented as solid and solution. The solid segment is expected to witness significant growth rate in the market during the forecast period owing to its widespread usage in various industries including chemical manufacturing, research & laboratories, pigments & coatings, and agriculture.

Cobalt Nitrate Market Share: By Application Type

Based on the application type, the market is segmented as high-purity cobalt, feed additives, catalysts, and dyes & pigments. Dyes & pigments application type is anticipated to register high growth rate in the market owing to the growing paints & coating industry along with the increasing adoption of 3D printing technology for production of customized machine components, automotive parts, and medical implants. Furthermore, increasing infrastructural projects, growth of residential construction sector, and rising demand for textiles and fabrics are expected to enhance the growth of the market over the forecast period.

Cobalt Nitrate Market Share: By Region

In terms of regions, Europe is estimated to be the leading region in the market owing to the increasing adoption of feed additives. Increasing meat consumption coupled with growing consumer’s concern regarding the safety standard of meat & dairy products on account of widespread disease outbreak in livestock is likely to increase the demand for cobalt nitrate in the market. Cobalt nitrate, sulfate, dichloride, acetate, and carbonate are the six cobalt salts authorized by the European Union, which are expected to enhance growth of the market. Furthermore, changing dietary preference, economic development, and population growth in region have resulted in increased meat consumption, which should increase the cobalt nitrate market demand for animal feed additives.

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Market Scope & Segmentation

Cobalt nitrate is also known as cobaltous nitrate. This product has excellent oxidizing properties and it finds application in the decoration of porcelain and stones, in the manufacture of invisible inks and cobalt pigments, in hair dyes, in animal feeds, as an additive to soils, in catalysts preparation, and in vitamin supplements.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The cobalt nitrate market is segmented into the following categories.

Cobalt Nitrate Market Size, Share, & Forecast, by Type:

• Solid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Solution (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Cobalt Nitrate Market Size, Share, & Forecast, by Application Type:

• High-Purity Cobalt (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Feed Additives (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Catalysts (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Dyes & Pigments (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Cobalt Nitrate Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the key players in the cobalt nitrate market are-

• Thermofisher Scientific
• Sigma Aldrich
• Eastmen Chemicals
• Zimi Chemicals
• Yogi Dye Chem Industries
• Otto Chemie Pvt Ltd
• Anchor Chemicals
• American Elements.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.