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Cobalt nitrate industry is substantially fragmented and includes various market players such as :
Companies are primarily engaged in strategic acquisitions to expand production capacity and distribution network.
The dyes and pigment application segment is anticipated to exceed USD 70 million annually by 2027.
The industry size for solid cobalt nitrate had reached USD 115 million during 2020 and will grow through 2027 due to high quality suited for high purity applications like chemical manufacturing and research.
The global market for cobalt nitrate had cross USD 125 million in 2020 and will witness around 6.5% CAGR up to 2027 with increased consumption across semiconductor and electronics applications.
Europe cobalt nitrate industry share is projected to register gains at more than 6% between 2021-2027 with continued demand for the substance from animal feed additives segment.