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
List of Figures
Figure 1: Global Cobalt Acetate Market Revenue Breakdown (USD Billion, %) by Region, 2023 & 2030
Figure 2: Global Cobalt Acetate Market Value Share (%), By Segment 1, 2023 & 2030
Figure 3: Global Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 4: Global Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 5: Global Cobalt Acetate Market Value Share (%), By Segment 2, 2023 & 2030
Figure 6: Global Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 7: Global Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 8: Global Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 9: Global Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 10: Global Cobalt Acetate Market Value Share (%), By Segment 3, 2023 & 2030
Figure 11: Global Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 12: Global Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 13: Global Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 14: Global Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 15: Global Cobalt Acetate Market Value (USD Billion), by Region, 2023 & 2030
Figure 16: North America Cobalt Acetate Market Value Share (%), By Segment 1, 2023 & 2030
Figure 17: North America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 18: North America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 19: North America Cobalt Acetate Market Value Share (%), By Segment 2, 2023 & 2030
Figure 20: North America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 21: North America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 22: North America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 23: North America Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 24: North America Cobalt Acetate Market Value Share (%), By Segment 3, 2023 & 2030
Figure 25: North America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 26: North America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 27: North America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 28: North America Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 29: North America Cobalt Acetate Market Forecast (USD Billion), by U.S., 2021-2030
Figure 30: North America Cobalt Acetate Market Forecast (USD Billion), by Canada, 2021-2030
Figure 31: Latin America Cobalt Acetate Market Value Share (%), By Segment 1, 2023 & 2030
Figure 32: Latin America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 33: Latin America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 34: Latin America Cobalt Acetate Market Value Share (%), By Segment 2, 2023 & 2030
Figure 35: Latin America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 36: Latin America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 37: Latin America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 38: Latin America Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 39: Latin America Cobalt Acetate Market Value Share (%), By Segment 3, 2023 & 2030
Figure 40: Latin America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 41: Latin America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 42: Latin America Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 43: Latin America Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 44: Latin America Cobalt Acetate Market Forecast (USD Billion), by Brazil, 2021-2030
Figure 45: Latin America Cobalt Acetate Market Forecast (USD Billion), by Mexico, 2021-2030
Figure 46: Latin America Cobalt Acetate Market Forecast (USD Billion), by Rest of Latin America, 2021-2030
Figure 47: Europe Cobalt Acetate Market Value Share (%), By Segment 1, 2023 & 2030
Figure 48: Europe Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 49: Europe Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 50: Europe Cobalt Acetate Market Value Share (%), By Segment 2, 2023 & 2030
Figure 51: Europe Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 52: Europe Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 53: Europe Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 54: Europe Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 55: Europe Cobalt Acetate Market Value Share (%), By Segment 3, 2023 & 2030
Figure 56: Europe Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 57: Europe Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 58: Europe Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 59: Europe Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 60: Europe Cobalt Acetate Market Forecast (USD Billion), by U.K., 2021-2030
Figure 61: Europe Cobalt Acetate Market Forecast (USD Billion), by Germany, 2021-2030
Figure 62: Europe Cobalt Acetate Market Forecast (USD Billion), by France, 2021-2030
Figure 63: Europe Cobalt Acetate Market Forecast (USD Billion), by Italy, 2021-2030
Figure 64: Europe Cobalt Acetate Market Forecast (USD Billion), by Spain, 2021-2030
Figure 65: Europe Cobalt Acetate Market Forecast (USD Billion), by Russia, 2021-2030
Figure 66: Europe Cobalt Acetate Market Forecast (USD Billion), by Rest of Europe, 2021-2030
Figure 67: Asia Pacific Cobalt Acetate Market Value Share (%), By Segment 1, 2023 & 2030
Figure 68: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 69: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 70: Asia Pacific Cobalt Acetate Market Value Share (%), By Segment 2, 2023 & 2030
Figure 71: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 72: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 73: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 74: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 75: Asia Pacific Cobalt Acetate Market Value Share (%), By Segment 3, 2023 & 2030
Figure 76: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 77: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 78: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 79: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 80: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by China, 2021-2030
Figure 81: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by India, 2021-2030
Figure 82: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Japan, 2021-2030
Figure 83: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Australia, 2021-2030
Figure 84: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Southeast Asia, 2021-2030
Figure 85: Asia Pacific Cobalt Acetate Market Forecast (USD Billion), by Rest of Asia Pacific, 2021-2030
Figure 86: Middle East & Africa Cobalt Acetate Market Value Share (%), By Segment 1, 2023 & 2030
Figure 87: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 88: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 89: Middle East & Africa Cobalt Acetate Market Value Share (%), By Segment 2, 2023 & 2030
Figure 90: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 91: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 92: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 93: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 94: Middle East & Africa Cobalt Acetate Market Value Share (%), By Segment 3, 2023 & 2030
Figure 95: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 96: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 97: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 98: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by Others, 2021-2030
Figure 99: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by GCC, 2021-2030
Figure 100: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by South Africa, 2021-2030
Figure 101: Middle East & Africa Cobalt Acetate Market Forecast (USD Billion), by Rest of Middle East & Africa, 2021-2030
List of Tables
Table 1: Global Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 2: Global Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 3: Global Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 4: Global Cobalt Acetate Market Revenue (USD Billion) Forecast, by Region, 2021-2030
Table 5: North America Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 6: North America Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 7: North America Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 8: North America Cobalt Acetate Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 9: Europe Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 10: Europe Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 11: Europe Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 12: Europe Cobalt Acetate Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 13: Latin America Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 14: Latin America Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 15: Latin America Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 16: Latin America Cobalt Acetate Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 17: Asia Pacific Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 18: Asia Pacific Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 19: Asia Pacific Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 20: Asia Pacific Cobalt Acetate Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 21: Middle East & Africa Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 22: Middle East & Africa Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 23: Middle East & Africa Cobalt Acetate Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 24: Middle East & Africa Cobalt Acetate Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Research Process
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
Primary Research
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 Research
Secondary 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 Estimation
Both, 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
