Cobalt Nitrate Market Size & Share 2021 to 2027

Market Size by Type (Solid, Solution), by Application (High-Purity Cobalt, Feed Additives, Catalysts, Dyes & Pigments) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, & Forecast.
Report ID: GMI4939
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Published Date: February 2021
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Report Format: PDF

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Cobalt Nitrate Market Size

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.
 

Cobalt Nitrate Market Outlook

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.
   

 

Cobalt Nitrate Market Analysis

Solid Cobalt Nitrate Market

Global solid cobalt nitrate value surpassed USD 115 million in 2020 and should register significant gains in the predicted period. The product is widely available as an American Chemical Society (ACS) grade reagent which indicates its high quality and suitability for high purity applications. Solid cobalt nitrate finds widespread usage in various industries such as chemical manufacturing, research & laboratory, pigments & coatings, and agriculture.
 

Crystalline cobalt nitrate finds extensive adoption in the production of invisible inks, cobalt pigments, porcelain & stoneware decoration, and catalyst synthesis. The product is precipitated on several substrates for Fischer-Tropsch catalysis and is routinely reduced to metallic cobalt. The product also utilised as an analytical reagent for the determination of potassium which should accelerate the cobalt nitrate market growth.
 

Cobalt Nitrate Market from Dyes and Pigments Application

Based on application, dyes and pigment segment should surpass USD 70 million by 2027. Substantial growth of the paints & coatings industry coupled with rising adoption of 3D printing technology to produce customised machine components, automotive parts and medical implants should accelerate market growth. Significant rise in infrastructural projects primarily in China, India and Indonesia and growth of residential construction sector should boost the cobalt nitrate market growth.
 

Dye & pigment manufacturers are engaged in technological innovation and the removal of hazardous & polluting ingredients which should stimulate product demand. Emerging economies are witnessing tremendous population growth and industrialization which has influenced governments to increase construction spending. Moreover, growing demand for textiles and fabrics owing to an increase in consumer disposable income and changing lifestyles should boost the requirement for dyes & pigments and accelerate the cobalt nitrate market revenue.
 

Cobalt Nitrate Market by Region

Europe business should register about 6% gains by the end of 2027. The region is witnessing rising meat consumption and growing consumer concerns regarding the safety of meat & dairy products owing to widespread disease outbreaks in livestock, which should increase the cobalt nitrate market demand for animal feed additives. The European Union authorizes six cobalt salts as animal feed additives which include cobalt nitrate, sulfate, dichloride, acetate, and carbonate which represents ample growth opportunities.
 

Changing dietary preferences, economic development and population growth primarily in Germany, France and Spain has resulted in increasing meat consumption. The restricted availability of water & land resources for feed production and increasing life expectancy in the region has increased the demand for premium feed additives. European consumers increasingly prefer animal protein and healthy meat products which has influenced livestock farmers to adopt feed additives to enhance animal health and reduce feed cost.
 

Cobalt Nitrate Market Share

Cobalt nitrate industry is substantially fragmented and includes various market players such as :

  • Thermofisher Scientific
  • Sigma Aldrich
  • Eastmen Chemicals
  • Zimi Chemicals
  • Yogi Dye Chem Industries
  • Otto Chemie Pvt Ltd
  • Anchor Chemicals
  • American Elements

Companies are primarily engaged in strategic acquisitions to expand production capacity and distribution network.
 

ICoNiChem, a global provider of cobalt and nickel salts was acquired by Eti Bakr A.., a leading Turkish mining company in December 2020. This acquisition allows Eti Bakir to both, mine cobalt and process it further for the company’s end users. ICoNiChem’s cobalt processing operations enhances the ability of Eti Bakir to achieve market leadership in the cobalt salts sector.
 

Global cobalt nitrate market report includes in-depth coverage of the industry with estimates & forecast in terms of volume (Tons) and revenue in USD million from 2016 to 2027 for the following segments:
 

By Type

  • Solid
  • Solution

By Application

  • High-purity cobalt
  • Feed additives
  • Catalysts
  • Dyes & Pigments
  • Others

The above information has been provided for the following regions:

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Spain
    • Poland
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Thailand
    • Malaysia
  • Latin America
    • Brazil
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
       
Authors: Kiran Pulidindi, Kunal Ahuja
Cobalt Nitrate Market Scope
  • Cobalt Nitrate Market Size
  • Cobalt Nitrate Market Trends
  • Cobalt Nitrate Market Analysis
  • Cobalt Nitrate Market Share

Report Content

Chapter 1   Methodology & Scope

1.1    Market Definitions

1.2    Base estimates & calculations

1.3    Forecast calculations

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Cobalt Nitrate industry 3600 synopsis, 2016 - 2027

2.1.1    Business Trends

2.1.2    Product Trends

2.1.3    Application Trends

2.1.4    Regional Trends

Chapter 3   Cobalt Nitrate Market Industry Insights

3.1    Industry segmentation

3.2    COVID-19 overview on world economy

3.3    Industry ecosystem analysis

3.3.1    Vendor Matrix

3.3.2    Distribution channel analysis

3.3.2.1    Collaborations/Partnerships

3.3.3    Impact of COVID-19 on value chain

3.4    Raw material analysis

3.5    Technology landscape

3.6    Regulatory Landscape

3.6.1    U.S.

3.6.2    Europe

3.6.3    China

3.7    Pricing Analysis

3.7.1    Global cobalt nitrate average pricing analysis (USD/Kg)

3.7.1.1    North America

3.7.1.2    Europe

3.7.1.3    Asia Pacific

3.7.1.4    LATAM

3.7.1.5    MEA

3.7.2    Cost structure analysis

3.8    Industry impact forces

3.8.1    Growth drivers

3.8.1.1    Rising demand from animal feed

3.8.1.2    Increasing demand of colored pigments from ceramics industry

3.8.2    Industry challenges & pitfalls

3.8.2.1    Harmful effects

3.9    Innovation & sustainability

3.10    Growth potential analysis, 2020

3.10.1    Emerging Business Model

3.10.1.1    Partnership

3.10.1.2    Acquisition

3.11    Porter’s analysis

3.11.1    Industry Rivalry

3.11.2    Buyer power

3.11.3    Threat of substitutes

3.11.4    Supplier power

3.11.5    Threat of new entrants

3.12    Competitive landscape, 2020

3.12.1    Company market share analysis, 2020

3.12.2    Top players overview

3.12.3    Strategy dashboard

3.13    PESTEL analysis

3.14    COVID-19 impact on Biphenyl, by application

3.14.1    High-purity cobalt

3.14.2    Feed additives

3.14.3    Catalysts

3.14.4    Dyes & pigments

Chapter 4   Cobalt Nitrate Market, By Type

4.1    Key type trends

4.2    Solid

4.2.1    Global Solid Cobalt Nitrate market estimates and forecast, 2016 - 2027, (Tons) (USD Million)

4.2.2    Global Solid Cobalt Nitrate market, by region, 2016 - 2027, (Tons) (USD Million)

4.3    Solution

4.3.1    Global Cobalt Nitrate Solution market estimates and forecast, 2016 - 2027, (Tons) (USD Million)

4.3.2    Global Cobalt Nitrate Solution market, by region, 2016 - 2027, (Tons) (USD Million)

Chapter 5   Cobalt Nitrate Market, By Application

5.1    Key application trends

5.2    High-purity cobalt

5.2.1    Global Cobalt Nitrate market estimates and forecast from high-purity cobalt application, 2016 - 2027, (Tons) (USD Million)

5.2.2    Global Cobalt Nitrate market estimates and forecast from high-purity cobalt application, by region, 2016 - 2027, (Tons) (USD Million)

5.3    Feed additives

5.3.1    Global Cobalt Nitrate market estimates and forecast from Feed additives application, 2016 - 2027, (Tons) (USD Million)

5.3.2    Global Cobalt Nitrate market estimates and forecast from Feed additives application, by region, 2016 - 2027, (Tons) (USD Million)

5.4    Catalysts

5.4.1    Global Cobalt Nitrate market estimates and forecast from Catalysts application, 2016 - 2027, (Tons) (USD Million)

5.4.2    Global Cobalt Nitrate market estimates and forecast from Catalysts application, by region, 2016 - 2027, (Tons) (USD Million)

5.5    Dyes & pigments

5.5.1    Global Cobalt Nitrate market estimates and forecast from Dyes & pigments application, 2016 - 2027, (Tons) (USD Million)

5.5.2    Global Cobalt Nitrate market estimates and forecast from Dyes & pigments application, by region, 2016 - 2027, (Tons) (USD Million)

5.6    Others

5.6.1    Global Cobalt Nitrate market estimates and forecast from Others application, 2016 - 2027, (Tons) (USD Million)

5.6.2    Global Cobalt Nitrate market estimates and forecast from Others application, by region, 2016 - 2027, (Tons) (USD Million)

Chapter 6   Cobalt Nitrate Market, By Region

6.1    Key region trends

6.2    North America

6.2.1    North America Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.2.2    North America Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.2.3    North America Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.2.4    U.S.

6.2.4.1    U.S. Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.2.4.2    U.S. Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.2.4.3    U.S. Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.2.5    Canada

6.2.5.1    Canada Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.2.5.2    Canada Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.2.5.3    Canada Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.2.6    Mexico

6.2.6.1    Mexico Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.2.6.2    Mexico Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.2.6.3    Mexico Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.3    Europe

6.3.1    Europe Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.3.2    Europe Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.3.3    Europe Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.3.4    Germany

6.3.4.1    Germany Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.3.4.2    Germany Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.3.4.3    Germany Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.3.5    UK

6.3.5.1    UK Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.3.5.2    UK Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.3.5.3    UK Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.3.6    France

6.3.6.1    France Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.3.6.2    France Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.3.6.3    France Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.3.7    Italy

6.3.7.1    Italy Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.3.7.2    Italy Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.3.7.3    Italy Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.3.8    Russia

6.3.8.1    Russia Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.3.8.2    Russia Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.3.8.3    Russia Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.3.9    Spain

6.3.9.1    Spain Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.3.9.2    Spain Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.3.9.3    Spain Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.3.10    Poland

6.3.10.1    Poland Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.3.10.2    Poland Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.3.10.3    Poland Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.4    Asia Pacific

6.4.1    Asia Pacific Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.4.2    Asia Pacific Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.4.3    Asia Pacific Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.4.4    China

6.4.4.1    China Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.4.4.2    China Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.4.4.3    China Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.4.5    India

6.4.5.1    India Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.4.5.2    India Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.4.5.3    India Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.4.6    Japan

6.4.6.1    Japan Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.4.6.2    Japan Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.4.6.3    Japan Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.4.7    South Korea

6.4.7.1    South Korea Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.4.7.2    South Korea Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.4.7.3    South Korea Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.4.8    Thailand

6.4.8.1    Thailand Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.4.8.2    Thailand Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.4.8.3    Thailand Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.4.9    Malaysia

6.4.9.1    Malaysia Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.4.9.2    Malaysia Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.4.9.3    Malaysia Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.5    Latin America

6.5.1    Latin America Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.5.2    Latin America Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.5.3    Latin America Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.5.4    Brazil

6.5.4.1    Brazil Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.5.4.2    Brazil Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.5.4.3    Brazil Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.6    Middle East & Africa

6.6.1    Middle East & Africa Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.6.2    Middle East & Africa Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.6.3    Middle East & Africa Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.6.4    Saudi Arabia

6.6.4.1    Saudi Arabia Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.6.4.2    Saudi Arabia Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.6.4.3    Saudi Arabia Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.6.5    UAE

6.6.5.1    UAE Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.6.5.2    UAE Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.6.5.3    UAE Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

6.6.6    South Africa

6.6.6.1    South Africa Cobalt Nitrate market estimates & forecast, 2016 - 2027 (Tons) (USD Million)

6.6.6.2    South Africa Cobalt Nitrate market, by type, 2016 - 2027, (Tons) (USD Million)

6.6.6.3    South Africa Cobalt Nitrate market, by application, 2016 - 2027, (Tons) (USD Million)

Chapter 7   Company Profiles

7.1    ICoNiChem

7.1.1    Business Overview

7.1.2    Financial Data

7.1.3    Product Landscape

7.1.4    SWOT Analysis

7.1.5    Strategy outlook

7.2    Thermofisher Scientific

7.2.1    Business Overview

7.2.2    Financial Data

7.2.3    Product Landscape

7.2.4    SWOT Analysis

7.2.5    Strategy outlook

7.3    Sigma Aldrich

7.3.1    Business Overview

7.3.2    Financial Data

7.3.3    Product Landscape

7.3.4    SWOT Analysis

7.3.5    Strategy outlook

7.4    Eastmen Chemicals

7.4.1    Business Overview

7.4.2    Financial Data

7.4.3    Product Landscape

7.4.4    SWOT Analysis

7.4.5    Strategy outlook

7.5    Zimi Chemicals

7.5.1    Business Overview

7.5.2    Financial Data

7.5.3    Product Landscape

7.5.4    SWOT Analysis

7.5.5    Strategy outlook

7.6    Yogi Dye Chem Industries

7.6.1    Business Overview

7.6.2    Financial Data

7.6.3    Product Landscape

7.6.4    SWOT Analysis

7.6.5    Strategy outlook

7.7    Otto Chemie Pvt Ltd

7.7.1    Business Overview

7.7.2    Financial Data

7.7.3    Product Landscape

7.7.4    SWOT Analysis

7.7.5    Strategy outlook

7.8    Anchor Chemicals

7.8.1    Business Overview

7.8.2    Financial Data

7.8.3    Product Landscape

7.8.4    SWOT Analysis

7.8.5    Strategy outlook

7.9    American Elements

7.9.1    Business Overview

7.9.2    Financial Data

7.9.3    Product Landscape

7.9.4    SWOT Analysis

7.9.5    Strategy outlook

7.10    Umicore

7.10.1    Business Overview

7.10.2    Financial Data

7.10.3    Product Landscape

7.10.4    SWOT Analysis

7.10.5    Strategy outlook

 

Don't see your key competitors?

The companies listed in this report are a curated selection - not the full competitive universe.

Our market revenue calculations use a bottom-up methodology that accounts for all players across all regions - including manufacturers, distributors, and specialists not individually profiled. The profiles section spotlights strategically significant players; it does not define the scope of our market sizing.

Your competitive landscape may also include

Regional or domestic-only leaders not in the global top tier
Distributors and channel partners who control market access
Emerging disruptors, startups, or adjacent-industry entrants
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Authors: Kiran Pulidindi, Kunal Ahuja

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Base Year: 2020

Companies covered: 10

Tables & Figures: 164

Countries covered: 20

Pages: 150

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