Global Cobalt Market Business Opportunities, Current Trends & Industry Analysis by Key Players like China Molybdenum Co., Ltd., Glencore, Norilsk Nickel, Sheritt International Corporation, Vale, SUMITOMO METAL MINING CO LTD., Jinchuan Group Co Ltd

In this Global Cobalt Market research report, industry trends are plotted on macro level which helps clients and the businesses comprehend market place and possible future issues. A profound knowledge of industrial unanimity, market trends and incredible techniques utilized in Global Cobalt Market report gives client’s an upper hand in the market. Comprehensive data and brilliant forecasting techniques used in this report coincide with precision and correctness. Actionable market insights are always very important if seeking to create sustainable and profitable business strategies. market segmentation is carried out in terms of markets covered, geographic scope, years considered for the study, currency and pricing, research methodology, primary interviews with key opinion leaders, DBMR market position grid, market challenge matrix, secondary sources, and assumptions.

Global Cobalt Market report offers better solution for refining the business strategies to thrive in this competitive market place. A number of trustworthy sources such as journals, websites, and annual reports of the companies, white papers, and mergers have been referred for assembling the data and information mentioned in this Global Cobalt Market report. Information and data provided through the Global Cobalt Market report can be very decisive for industry when it comes to dominating the market or creating a mark in the market as a new emergent. The research study performed in Global Cobalt Market report also helps to understand the various drivers and restraints impacting the market during the forecast period.

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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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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