The new report by Expert Market Research titled, ‘Global Cobalt Acetate Solution Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global cobalt acetate solution market assessing the market based on its segments such as applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.5%
Cobalt acetate is used as a dryer in paint and varnish. The use of cobalt acetate in paint and varnish is expected to boost augment the global cobalt acetate solution market. The paint industry has witnessed steady growth over the years and is expected to continue to grow at a healthy rate during the forecast period. The industrial paint segment includes a broad array of segments like packaging, automotive, powder, marine, protective, and other general industrial coatings. New investments and capacity expansions by leading companies are expected to boost the propensity of the paint market and increase demand for cobalt acetate solutions.
Cobalt Acetate Solution Industry Definition and Major Segments:
Cobalt acetate solutions are liquid cobalt acetate solutions that range in concentration from mild to extremely concentrated. These are a great supply of cobalt acetate for applications that require soluble materials.
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The major applications of the market are:
• Paint Driers
• Pigment and Textile Dyeing
On the basis of the region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Increasing global population and welfare drive the demand for textiles. Cobalt acetate solution is used for textile dyeing. I expect the demand for textiles to grow significantly in the near future and stimulate the global cobalt acetate solutions market. The increasing demand from dyes and pigments manufacturing companies will probably propel the market growth. In addition, the increased spending of people on the exterior and interior of the house is increasing the demand for paints and varnishes from construction industries, further driving the demand for cobalt acetate solution used in varnishes and paints as additives.
Key Market Players:
The major players in the market are Shepherd Chemical Company, Umicore, ICoNiChem Widnes Ltd, American Elements, and Celtic Chemicals Ltd, among others.The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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