Report Code: A06776 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Cobalt Carbonate Market
Request Now !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.
The outbreak of the COVID-19 pandemic has severely affected the global cobalt carbonate market.
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.Â
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.
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Cobalt Carbonate Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 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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