Cobalt Market Size, Share, Report, Analysis, Trends & Forecast to 2026

According to Stratistics MRC, the Global Cobalt Market is expected to grow at a CAGR of 10.3% from 2017 to 2026.

Gaithersburg, MD, US – May 23, 2018 /MarketersMedia/ —

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.

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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.

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. 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.

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Some of the key players in the Cobalt market are 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 and Vale.

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Applications Covered:
• Binder Materials
• Life Sciences
• Orthopedics
• Thermal spray coatings
• Magnets
• Water resistant alloys
• Super alloys
• Reusable energy storage systems
• Catalysts
• Ceramics/pigments
• Battery chemicals
• Hard metals

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

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

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
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– 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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About Stratistics MRC
We offer wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services and Full Time Equivalent (FTE) services in the research world. We explore the market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends.
Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects.

Contact Info:
Name: James Lamb
Email: info@strategymrc.com
Organization: Stratistics Market Research Consulting Pvt Ltd

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Source: MarketersMedia

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