Future Market Insights
Global Cobalt Carbonate Market: Snapshot
Cobalt carbonate also known as spherocobaltite, is an organic mineral that is commercially available as a pale violet powder. It is a precursor to cobalt carbonyl and various other cobalt salts. Currently the compound find its extensive use in batteries, alloys manufacturing, and catalytic reactions. However, the major application of the cobalt carbonate that is driving the growth of cobalt carbonate market at a global level is the use in dietary supplements, soaps and magnets. The compound is also an exceptional melting agent where it gives a glaze slurry and melts with better color when heated at specific temperature. It is because of this reason the cobalt carbonate has widespread use in welding metal alloys and painting metal sheets for cars in automobile industry. These applications are some more factors that are boosting the growth of global cobalt carbonate market in recent times.
Some More Parameters Driving the Global Cobalt Carbonate Market
Cobalt carbonate which is also known as spherocobaltite, which is a mineral, an inorganic compound with formula Cobalt carbonate. Cobalt carbonate is commercially available on pale violet basic cobalt carbonate. Cobalt carbonate is precursor to cobalt carbonyl and other cobalt salts. Cobalt carbonates are used in batteries, alloys, tool materials, catalysts, pigments, magnets, soaps, etc. Since cobalt is an essential element it is a component of dietary supplement.as Cobalt carbonate is insoluble in cold and hot water but soluble in acids is the predecessor to blue pottery glazes, well known for delftware. Cobalt carbonate is extremely active melter, the carbonate form of cobalt is fine grained and disperses better in the glaze slurry and melt it gives a better color than cobalt oxide. Supplies of cobalt carbonate material often differ in the shade of raw powder this happens because the grades of cobalt carbonate are actually a mixture of carbonate and hydroxide. Since it is a carbonate salt of cobalt it forms a red triagonal crystal with a specific gravity 4.13 and decomposes on melting. As cobalt carbonate aids in the production of vitamin B12 in ruminants such as cattle’s and sheep’s it is used in animal feeds. Cobalt carbonates are used in batteries and making of powerful magnets.
Global Cobalt Carbonate Market: Market dynamics
The growth of global cobalt carbonate market is driven by paint industry, cobalt carbonate is also used as plating chemical application or catalyst. Cobalt carbonate are used as dietary supplement and in manufacturing of paints and pigments. Cobalt carbonate has features like enhanced shelf life, precisely processed, and mixture with other compounds gives an accurate chemical composition. Cobalt carbonate is used majorly in animal feeds as inorganic metal salts which may be deficient in the minerals and elements necessary for healthy development and growth, so by adding cobalt carbonate to livestock’s feeds can help the correct amount of vitamin needed to keep the animals developing normally and healthy. Cobalt carbonates are widely used in batteries it serves as a cathode material of Li-ion batteries. It is used as one of the main material for jet engines and gas turbines in aerospace industry as alloys. The restrain for cobalt carbonate market would be that the cobalt carbonates are high of cost but cobalt cannot be entirely eliminated.
Global Cobalt Carbonate Market: Market segmentation
On the basis of source type, the global Cobalt Carbonate market is segmented into:
On the basis of product type, the global Cobalt Carbonate market is segmented into:
On the basis of application, the global Cobalt Carbonate market is segmented into:
On the basis of end users, the global Cobalt Carbonate market is segmented into:
Global Cobalt Carbonate Market: Segment Overview
Paint industry has higher rate of consumption of Cobalt Carbonate followed by chemical industry and the automotive industry as cobalt carbonates are used in the batteries of automobiles. Use of Cobalt Carbonate is increasing the application in the field of agricultural chemicals.
Global Cobalt Carbonate Market: Regional overview
Based on the geographies, the global Cobalt Carbonate market is fragmented into seven key regions- North America, Western Europe, Latin America, Eastern Europe, Asia-Pacific except Japan, Japan, and Middle East & Africa. Among the regions mentioned above Asia-Pacific is expected to grow at a fastest rate for cobalt carbonate market. The major need for cobalt carbonate is from China and India, followed by western European and eastern European market. Developments in South Africa in the MEA region has a potential impact on cobalt carbonate market. Overall the market for cobalt carbonate has a positive growth owing to the growth in the consumption of cobalt carbonate in the automotive industry.
Global Cobalt Carbonate Market: Market Players
Some of the market players identified in the global Cobalt Carbonate market includes:
IS Chemical Technology
Ark Pharm, Inc.
Finetech Industry Limited
Aurora Fine Chemicals LLC
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
The main aim of the report is to:
MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.