Cobalt Powder Global Market 2019 | Analysis, Size, Industry Size, Share, Segmentation Growth Prospective and Regional Forecast to 2026

WMR new study on “Cobalt Powder Market Research Reports 2019” is a comprehensive analysis of the key players, trends, cost structure, capacity, size-share, challenges, demand and supply, and opportunities. This report also offers deep insight into the growth of major player as well as look at new entrants to the market and their growth prospects. Moreover, this the report also maps all the important factors influencing the overall market. Furthermore, exhaustive quantitative analysis of the Cobalt Powder market has been provided in an organized manner which will help marketers in making strategies for increasing market growth and effectiveness.

Cobalt is a chemical compound with the formula Co and atomic number 27. It is mostly found in combination with nickel in the Earth crust metal. It has various industrial application owing to its excellent properties such as high melting point, highly ferromagnetic, and high thermal stability. Cobalt powder has an inherent property to combine with various metals and diamond powder. Therefore, the cobalt powder is used for producing various diamond tools such as marble and granite cutting segments that are brazed on gang and circular saw blades. The cobalt powder market will continue to expand in the near future on the ground of rising demand for bonded tools in the diamond industry.

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Top Prominant Players: Freeport Cobalt, Umicore,Kansai Catalyst, Sherritt Inc., Eurotungstene, ,NIKKOSHI Zhuzhou Cemented Carbide Group, Shenzhen GEM, Jinchuan Group, Hanrui Cobalt, Zhuhai Huaxin, Jinchang Changqing etc.

Scope of the Cobalt Powder market report:
Growing demand for cobalt powder from automotive and electronics industries, where it is used across electronic batteries and automotive tires is projected to serve as a major driving factor to the market growth. The market is also expected to exhibit high growth on the account of expanding chemical industry along with growing demand for cobalt powder for electroplating, the coloring of ceramics and pigments, and the manufacturing of permanent magnets. For instance, The European Chemical Industry Council, AISBL, the global chemicals turnover was valued at US$ 3,926.75 Bn in 2017, which grew by 4.6% from 2016.

Asia Pacific market is expected to exhibit high growth on the account of growing demand from the electronics industry across emerging economies such as India and China. For instance, according to Invest India, the electronics market in India is projected to reach US$ 228 bn by 2020 from over US$ 100 bn in 2016-17. Moreover, the region is also expected to gain growth on the account high presence of major players producing high-grade cobalt powder in China and India countries.

Moreover, cobalt has emerged as one of the low-carbon technology, especially in lithium-ion batteries in electric vehicles where it is used as cathode active materials. This is also expected to foster the market growth of cobalt powder. On the other hand, health issues associated with the exposure to cobalt powder as it may lead to vision problems and heart-related diseases are projected to hamper the market growth.

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Regional Segmentation of the Cobalt Powder Market
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia, Spain and Benelux)
• Asia Pacific (China, Japan, India, Southeast Asia and Australia)
• Latin America (Brazil, Argentina and Colombia)
• Middle East and Africa

Key Development:
• In May 2019, Freeport-McMoRan Inc. announced an agreement to sell its cobalt refinery in Kokkola, Finland and related cobalt cathode precursor business to Umicore for a total consideration of approximately US$ 150 million, plus working capital at the time of close.
• In October 2019, China’s GEM Co. Ltd and Glencore announced extension of their long-term strategic cobalt partnership in order to meet rising demand for cobalt-containing battery products such as smartphones, tablets, and portable electronic device.
• In June 2019, Umicore and Glencore entered in a partnership for sustainable cobalt supply in battery materials

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This release was published on openPR.