The global cobalt acetate crystals market is set to gain impetus from its increasing usage in additives, oil drying agents, and catalysts. This information is given by Fortune Business Insights™ in an upcoming report, the report further states that cobalt acetate crystals enable the varnishing, coatings, and paints to harden.

The emergence of the COVID-19 pandemic across the globe is causing uproar in a wide range of companies owing to the complete shutdown of production processes. Some of them have also started to lay off workforces as they are facing severe economic losses. Until a vaccine is invented, we are unsure of the upcoming situation. Our research reports will help you understand the current scenario better.

How Did We Conduct Our Research?

The report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down approaches to calculate the market size.

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Drivers & Restraints-

Increasing Demand from Paints and Coatings Industry to Bolster Growth

The high demand for cobalt acetate crystals from the paints and coatings industry is set to propel growth. The industry uses the chemical as a precursor for salcomine, transition metal complex, and drying agents. In addition to that, cobalt acetate crystals would experience high demand from the chemical industry. However, the chemical is very poisonous and carcinogenic in nature. It can therefore cause allergies and asthma. These factors may hinder the cobalt acetate crystals market growth in the near future.

Regional Insights-

Asia Pacific to Remain at Forefront Backed by Presence of Prominent Manufacturing Firms

Geographically, Asia Pacific is anticipated to hold the largest cobalt acetate crystals market share in the upcoming years. This growth is attributable to the high demand for this chemical from numerous reputed paints and coating manufacturing organizations.

North America, on the other hand, is set to remain in the second position fueled by the rising expenditure by companies on research and development activities to introduce novel additives in paints and coatings. Europe is expected to grow significantly because of the surging demand for cobalt acetate crystals from various end-use sectors.

Competitive Landscape-

Key Players Focus on Offering Unique Products to Intensify Competition

The market for cobalt acetate crystals houses a large number of manufacturers that are mainly aiming to deliver new products to their customers for gaining a competitive edge. Some of the others are adopting several organic and inorganic strategies, such as broadening production capacities, partnerships, mergers, acquisitions, and agreements for competing with their rivals.

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A list of all the reputed cobalt acetate crystals manufacturers operating in the global market:

  • Coremax Corporation
  • Umicore
  • Nanjing Chemical Reagent
  • Liaoyang Synthetic Catalyst
  • Jiangxi Nuclear Industry
  • TIANFU CHEMICAL
  • Dalian Well
  • Jinhaiwan Chemical
  • XiaXian Yunli Chemical
  • Freeport Cobalt
  • Mechema Chemicals International
  • American Elements
  • Other key market players

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