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Cobalt Nitrate Market Size
- Report ID: GMI4939
- Published Date: Feb 2021
- Report Format: PDF
Cobalt Nitrate Market Size
style="text-align:justify">Global cobalt nitrate market size exceeded USD 125 million in 2020 and is estimated to grow at a CAGR of 6.5% between 2021 and 2027 owing to rising demand for high-purity cobalt from the semiconductor and electronics industries. Rising demand for dyes and pigments from the textiles and architectural paint industries should drive the business growth during the forecast period.
Cobalt nitrate, also known as cobaltous nitrate, is a crystalline inorganic salt soluble in water. The product has excellent oxidizing properties and is an ideal precursor for the synthesis of catalysts, nanoscale materials and high purity compounds. Recent research indicates that cobalt nitrate nanoparticles are ideal to produce bifunctional electrocatalysts for use in zinc-air batteries.
Significant expansion of the chemicals, polymers, automotive and the petroleum refining sectors has resulted in the growing requirement of catalysts. Moreover, rising environmental concerns have forced manufacturers to focus on energy conservation, cost saving, yield improvement, and process optimization which should stimulate the consumption of environmental catalysts that allow manufacturers to comply with stringent emission norms.
| Report Attribute | Details |
|---|---|
| Base Year: | 2020 |
| Forecast Period: | 2021 to 2027 |
| Historical Data for: | 2016 to 2020 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 164 |
| Segments covered: | Type and Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Cobalt Nitrate Market Scope
