Cobalt Market 2019 | Trends, Drivers, Strategies, Applications and Competitive Landscape 2023

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Cobalt Market Research Report - Forecast to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Cobalt Market Research Report- Forecast to 2023
Cobalt Market - Overview
Market Snapshot Robust demand for lithium ion
batteries continues to drive the global supply of
Cobalt. Lithium ion batteries are currently the
standard power supply component used in
electronic devices and vehicles. Cobalt suppliers
are seeking new sources to meet the rising demand
for the metal. In 2017, 106.5 KT of cobalt was
consumed globally, with majority share of the
production catering to battery chemical
manufacturing applications. The global market
size of cobalt is projected to expand at a CAGR
of 8.25 during the forecast period (2018-2023).
The outlook towards the Cobalt Industry is
positive though supply fluctuations may bring in
some headwinds. A shortage for the metal is quite
eminent in the future as demand is likely to grow
at an above-average rate over the next several
years. Widespread application in large-scale
sectors such as electronics, and automotive makes
cobalt a sought-after industrial
material. Report Synopsis MRFRs report offers
a comprehensive analysis of the global market for
Cobalt. It also includes an assessment of the
Cobalt production trend on a worldwide level. Key
macro and micro-economic factors that are
influencing the production, supply and demand
trends are thoroughly discussed in the report.
Different forms of Cobalt (chemical compound,
metal and purchased scrap) that are attracting
significant commercial interest fall among other
key points of discussion in the report.
Application areas for cobalt discussed in the
report include battery chemicals, super alloy,
ceramic pigments, hard metals, magnets, life
science, and binder material.
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Cobalt Market Research Report- Forecast to 2023
Segmental Analysis
MRFRs report also comprises an in-depth
segmental analysis of the Global Cobalt Market
based on application and form. Based on
application, the market is segmented into battery
chemicals, super alloys, ceramic and pigments,
hard metals, magnets, binder materials, life
science, and others. The battery chemicals
segment currently accounts for the leading share
of the market. This is primarily owing to the
extensive use of cobalt in manufacturing
rechargeable batteries for portable electronics
devices (such as mobile phones, laptops, and
tablets and e-mobility vehicles such as electric
vehicles, hybrid vehicles, electric trains, and
electric bikes). Sales of consumer electronic
devices remains on an upward trajectory as
digitization trends become more prominent. On the
basis of form, the market has been segmented into
metal, chemical compound, and purchased scrap.
Among these, the chemical compound segment is
expected to retain the top position over 2023.
Cobalt based chemical compounds find widespread
usage in manufacturing of rechargeable batteries.
They are also used as a colorant for porcelain,
glass, pottery, tiles, and enamel wear. View
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Cobalt Market Research Report- Forecast to 2023
Regional Outlook
The Cobalt Market has been covered across
regions such as North America, Asia Pacific
(APAC), Europe, the Middle East Africa (MEA)
and South America. Asia Pacific is a highly
active cobalt market, with China topping the list
as the most attractive investment destination.
While the African nation Congo (Democratic
Republic of the Congo) remains the largest
producers of cobalt, China takes the lead when it
comes to refining and processing of the metal.
Moreover, China has also emerged as the major
electronic device manufacturing hub, making it an
important market for various industrial materials
including cobalt.
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Cobalt Market Research Report- Forecast to 2023
Major Players in this Research

• Cobalt Market Prominent Players
• Glencore
• Umicore
• Huayou Cobalt Co. Ltd.
• Eramet
• Votorantim Metals SA
• Jinchuan Group International Resources Co. Ltd
• Sherritt International Corporation
• Sumitomo Corporation
• Freeport Cobalt
• Vale
• BHP

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