Cobalt Market: Global Industry growing at a CAGR of 10.3% |Top Key Players: Glencore, BHP, Vale, Freeport-McMoRan and Umicore

The report analyzes and presents an overview of ‘Cobalt - Global Market Outlook (2017-2026)' is a professional analysis, drivers, constraints, opportunities, threats, challenges, investment opportunities, and recommendations and in-depth research & with a focus on the current state of the global industry.

Global Cobalt Market is expected to grow at a CAGR of 10.3% from 2017 to 2026. Rising demand for lightweight electric cars, increasing application of cobalt in the medical sector and growing demand for cobalt alloys in airplane engines are some of the key factors propelling the market growth. However, lack of advanced infrastructure and high cost of cobalt are restricting the market.

Cobalt is a chemical element with symbol Co. Cobalt is found in the Earth's crust only in chemically combined form, save for small deposits found in alloys of natural meteoric iron. Cobalt in compound form occurs in copper and nickel minerals. It is the major metallic component that combines with sulfur and arsenic in the sulfidic cobaltite (CoAsS), safflorite (CoAs2), glaucodot ((Co,Fe)AsS), and skutterudite (CoAs3) minerals. Cobalt is mainly used in the manufacture of magnetic, wear-resistant and high-strength alloys.

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The Report on the Cobalt market offers explain knowledge on the market parts like dominating players, Regions Covered (North America, Europe, Asia Pacific, South America and Middle East & Africa), Application Covered (Binder Materials, Life Sciences, Orthopedics, Thermal spray coatings, Magnets, Water resistant alloys, Super alloys, Reusable energy storage systems, Catalysts, Ceramics/pigments, Battery chemicals, And Hard metals).

SOME OF THE KEY PLAYERS IN GLOBAL COBALT MARKET INCLUDE
• Umicore
• Glencore Xstrate plc
• Jinchuan
• Huayou Cobalt
• Freeport-McMoran
• Sherritt International
• Nippon Steel & Sumitomo Metal
• BHP Billiton
• Eramet
• Jiangsu Cobalt Nickel Metal
• Mopani Copper
• Votorantim Metais
• Zhejiang Huayou Cobalt
• Rubamin
• Vale

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Based on Application, battery chemical has a significant growth in the market during the forecast period. Cobalt when added to nickel-metal hydride batteries and lithium-ion batteries helps in tackling problems such as reduced life cycle, corrosion, and battery explosions by making them more efficient and stable. The increased demand for cell phones, laptops, electric cars and large-format rechargeable batteries is driving the market growth in this sector.

End User covered:
• Clean air
• Health
• Lifestyle
• Defence

APAC accounted for the largest market share during the forecast period. The growth of this region is attributed to the increasing aviation and automotive industries. China and Japan are the major consumers of cobalt in APAC.

WHAT OUR REPORT OFFERS:
- Market share assessments for the regional and country level segments

- Market share analysis of the top industry players

- Strategic recommendations for the new entrants

- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets

- Strategic recommendations in key business segments based on the market estimations

- Competitive landscaping mapping the key common trends

- Company profiling with detailed strategies, financials, and recent developments

- Supply chain trends mapping the latest technological advancements

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