Market Overview: Global Cobalt Market
MarkNtel Advisors, a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on the Global Cobalt Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
Cobalt Market Insights 2024-30
The Global Cobalt Market is estimated to grow at a CAGR of around 6.2% during the forecast period, i.e., 2024-30.
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Top Players in the Cobalt Market:
- Glencore Plc
- Missouri Cobalt
- Jinchuan Group International Co., Ltd
- CMOC Group
- Eurasian Resources Group
- Huayou Cobalt
- Sumitomo Cobalt Mining
- Cobalt Blue Holdings Limited
- Panoramic Resources Ltd.
- Sherritt International
- Nornickel
- Nickel 28 Capital Corp.
- Groupe Managem
- Carter Alloy Company
- Others
Segmentation Analysis of Cobalt Market
Cobalt Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
-By Form
- Chemical Compound
- Metal
- Purchased Scrap
Cobalt is majorly used in its metal form and dominates the other form type. Cobalt is widely used in battery production which uses a huge amount of cobalt in metal. It is used in batteries due to its high capacity and heat-resistant properties. The cobalt is deployed in its metal form in batteries and parts of jet aircraft for making engines. Therefore, metal form is expected to hold leading position in the Global Cobalt Market in coming years.
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-By Application
- Battery Chemicals – Market Size & Forecast 2019-2030F, Thousand Tons
- Super Alloys- Market Size & Forecast 2019-2030F, Thousand Tons
- Catalyst – Market Size & Forecast 2019-2030F, Thousand Tons
- Ceramics & Pigments- Market Size & Forecast 2019-2030F, Thousand Tons
- Binder Materials- Market Size & Forecast 2019-2030F, Thousand Tons
-By End User
- Electronics- Market Size & Forecast 2019-2030F, Thousand Tons
- Aerospace- Market Size & Forecast 2019-2030F, Thousand Tons
- Automotive- Market Size & Forecast 2019-2030F, Thousand Tons
- Chemical- Market Size & Forecast 2019-2030F, Thousand Tons
- Pharmaceutical- Market Size & Forecast 2019-2030F, Thousand Tons
- Others (Oil & Gas)- Market Size & Forecast 2019-2030F, Thousand Tons
A Comprehensive Geographical Analysis:
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Asia-Pacific holds a significant market share in the Global Cobalt Market and is expected to dominate the market in the forecast period as well. In countries such as China, India, Japan, etc., the cobalt market is growing due to several factors such as the growing number of electric vehicles in the region and the growing electronics market such as smartphones and laptops, which increase the demand for cobalt in the region.
According to the Ministry of Public Security China, country is the new electric vehicle market and the growth rate for electric vehicles is widely increasing. Also, the government is promoting the usage of EVs in the country by implementing several policies, which boost the demand for cobalt. Thus, increasing demand for cobalt in the Asia-Pacific region is expected to cement its position in the Global Cobalt Market in coming years.
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