Cobalt Market Global Trends, Growth, Opportunities, Market Size Forecast to 2028


Posted July 18, 2021 by leonfrancis

Cobalt Market, By Form (Chemical Compound, Metal, Purchased Scrap), Application (Battery Chemicals, Super Alloy, Ceramic and Pigments, Hard Metals, Magnets, Life Science, Binder Material)

 
Cobalt Market, By Form (Chemical Compound, Metal, Purchased Scrap), Application (Battery Chemicals, Super Alloy, Ceramic and Pigments, Hard Metals, Magnets, Life Science, Binder Material), End User (Electronics, Automotive, Aerospace, Medical), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.Cobalt market is expected to grow at a compound annual growth rate of 10.97% for the forecast period of 2021 to 2028. Data Bridge Market Research report on cobalt market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth. Cobalt is a type of chemical element found in the earth’s crust only chemically combined form. It is a free element that is produced by reductive smelting. Cobalt is a by-product of copper and nickel so; most of the cobalt is produced by the production of nickel and copper. Pure metallic cobalt is a lustrous, hard, silver-gray metal and is usually used in several industrial applications counting high-temperature super alloys, stainless steels, medical prosthetics, hard-facing products and cemented carbides.

The growing use of cobalt for metallurgical uses mainly in high-temperature alloys (super alloys) has highly influenced growth of the cobalt market. In line with this, the Increase in the use of cobalt in the electric vehicle as well as the high demand of cobalt owing the recyclable nature is also acting as a key determinant favoring the growth of the cobalt market over the forecast period of 2021 to 2028. Also the rapid increase in lithium ion battery production, superior energy density, recyclability of cobalt and strong presence of major construction companies are also positively impacting the growth of the cobalt market. The major factor accountable for the growth of the market is the rapid technological advancements along with rapid urbanization and globalization as well as the rising disposable incomes. However, the irregularity in supply occurring due to a lack of advanced infrastructure and political volatility may act as key restraint towards cobalt market growth rate in the forecast period of 2021 to 2028, whereas due to the inconsistency between the supply and demand, the prices of cobalt are probable to rise which have the potential to challenge the growth of the cobalt market in the above mentioned forecast period. Furthermore, rapid development and commercialization of environment friendly recyclable cobalt as well as growing population and the rising penetration of consumer electronics in emerging economies will further offer a variety of growth opportunities for the cobalt market in the above mentioned forecast period.

Global Cobalt Market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. This cobalt market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on cobalt market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Cobalt Market Country Level Analysis:
Cobalt market is analyzed and market size, volume information is provided by country, form, application and end user as referenced above.
The country section of the cobalt market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. The countries covered in the cobalt market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific leads the cobalt market because of the high demand for cobalt from the China within this particular region. Europe is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the strict regulations pertaining to the fuel-economy standards and vehicle emissions in this particular region.

Global Cobalt Market Scope and Market Size:
Cobalt market is segmented on the basis of form, application and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
On the basis of form, the cobalt market is segmented into chemical compound, metal and purchased scrap. Based on application, the cobalt market is segmented into battery chemicals, super alloy, ceramic and pigments, hard metals, magnets, life science and binder material. Battery chemicals have further been segmented into lithium cobalt oxide (LCO), lithium nickel manganese cobalt (NMC) and lithium nickel cobalt aluminum oxide (NCA).The end user segment for cobalt market is segmented into electronics, automotive, aerospace and medical.
The major players covered in the cobalt market report are China Molybdenum Co., Ltd., Glencore, Sheritt International Corporation, Vale, SUMITOMO METAL MINING CO LTD., Norilsk Nickel, GEM Co., Ltd., Huayou Cobalt Co., Ltd., BHP, Yantai Cash Industrial Co Ltd., Freeport Cobalt, Sumitomo Corporation, Horizonte Minerals, CMOC, Jervois Mining, Missouri Cobalt, LLC, FLEURETTE PROPERTIES LIMITED, McKinsey & Company, Jinchuan Group International Resources Co. Ltd., and Umicore among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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The key questions answered in this report:
What will be the Market Size and Growth Rate in the forecast year?
What is the Key Factors driving Laser Global Cobalt Market?
What are the Risks and Challenges in front of the market?
Who are the Key Vendors in Global Cobalt Market?
What are the Trending Factors influencing the market shares?
What is the Key Outcomes of Porter’s five forces model

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Last Updated July 18, 2021