The Rising Cobalt Oxalate Industry is driven by growing demand for...

The Rising Cobalt Oxalate Industry is driven by growing demand for lithium-ion batteries

نشر بتاريخ 2024-02-26 08:53:36

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Key players operating in the Cobalt Oxalate Market Size are BIOVIA, Chemical Computing Group, Agilent Technologies, Schrödinger, PerkinElmer, CambridgeSoft, ChemAxon, Molecular Discovery, and OpenEye Scientific Software. These companies are focused on expanding their production capacities and global footprint to leverage growth opportunities.

The Asia Pacific region has emerged as the fastest growing market for cobalt oxalate globally. Factors such as rapidly expanding end-use industries, electric vehicle production centers and growing industrialization are aiding strong market rise here. China contributes significantly to the Asia Pacific market growth. It has become a primary hub for manufacturing of rechargeable batteries, paints/coatings and superalloys where cobalt oxalate finds extensive application. Considerable investments by multinational corporations in China's automotive and electronics sectors strengthen the demand growth outlook. Government initiatives to develop domestic manufacturing also provide opportunities for cobalt oxalate companies. Other fast developing Asian countries including India, Indonesia and Vietnam will further drive the regional market during the forecast period.

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