Cobalt Market Outlook, Growth Analysis, Business Opportunities and Forecasts 2019 - 2026 | With Key Players Analysis On China Molybdenum Co., Ltd., Glencore, Norilsk Nickel, Sheritt International Corporation

Global Cobalt Market By Application ( Reusable Energy Storage System, Super Alloys, Wear- Resistant Alloys, Thermal Spray Coatings, Magnets, Orthopaedics, Binder Material, Life Sciences), End- User (Electronics, Automotive, Aerospace, Medical), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026

Global Cobalt Market is estimated to grow with a stable CAGR of 10.47% in the forecast period of 2019-2026. The report contains data from the historic year of 2017, and the base year of 2018. Increase in the lithium- ion battery is the major factor for the growth of this market.

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Global Cobalt Market Report analyzes common market conditions such as price of the product, profit, capacity, production, supply, demand, and growth rate of the market, giving businesses a hand in deciding multiple strategies. The Cobalt Market Report conducted SWOT analysis and many other standard steps of data research, analysis and collection. The report also reviews major market players, major collaborations, mergers, acquisitions, trend innovation, and corporate policies. Finding brand awareness and seeing the brand and product among potential customers is becoming effortless. The Cobalt report presents market insights that enable businesses to settle on sustainable, lucrative strategies. This report contains important information to assist in identifying and analyzing market needs, market size, and industry competition. When the report goes hand in hand with the right tools and technology, it helps address a number of uncertain business challenges.

Competitive Analysis:

Global cobalt market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cobalt market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Key Market Competitors:

Few of the major competitors currently working in the cobalt market are China Molybdenum Co., Ltd., Glencore, Norilsk Nickel, Sheritt International Corporation, Vale, SUMITOMO METAL MINING CO LTD., Jinchuan Group Co Ltd., Yantai Cash Industrial Co Ltd., and GEM CO., LTD.

Market Definition: Global Cobalt Market

Cobalt is a chemical element which is found on the earth as an alloy and is extracted by mining. It is a hard and brittle metallic element which resembles nickel and iron and can be magnetised. They usually have high temperature. They are used to produce string, corrosion and heat resistant alloys, permanent magnets and hard metals.

Segmentation: Global Cobalt Market

• By Application
o Reusable Energy Storage System
o Super Alloys
o Wear- Resistant Alloys
o Thermal Spray Coatings
o Magnets
o Orthopaedics
o Binder Material
o Life Sciences
• By End- User
o Electronics
o Automotive
o Aerospace
o Medical

Key Developments in the Market:

• In February 2019, US Department of Energy (DOE) announced the launch of ReCell Centre, a lithium- ion battery recycling centre. The main aim of it is to use the recycled material from lithium- ion technology and use it in new batteries so that the production cost will be decreased by 10- 30%.

• In January 219, Ford Motor Company launched Blockchain Pilot to ensure ethical sourcing of cobalt which is built in IBM platform and is powered by Linux Foundations Hyperledger fabrics. The aim of the company is to meet the demand of the lithium- ion batteries which is widely used in laptops, mobile devices and electric automobiles.

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Market Drivers:

• Increase in the use of cobalt in the electric vehicle market is driving the growth.

• Recyclable nature of the cobalt is increasing its demand.

Market Restraints:

• There are not enough suppliers in the market which is restraining the growth of this market.

Key Insights in the report:

• Complete and distinct analysis of the market drivers and restraints
• Key Market players involved in this industry
• Detailed analysis of the Market Segmentation
• Competitive analysis of the key players involved

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