Cobalt Market Size, Top Companies, Demand/Supply Analysis and Future Market Trends 2019-2023

1
Cobalt Market Research Report - Forecast to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
2
Cobalt Market Research Report- Forecast to 2023
Cobalt Market - Overview
Market Research Future (MRFR) speculates that the
Global Cobalt Market is estimated to register a
healthy CAGR of 8.25 during the forecast period
(2018-2023). The surging demand for lithium-ion
rechargeable batteries is likely to encourage the
market globally. Cobalt is considered as an
essential raw material for lithium battery which
is extensively used in computer, electric
vehicles, communication, and consumer
electronics. Cobalt finds applications in
electronics, batteries, and super alloys due to
several properties like corrosion resistance,
high temperature resistance, high tensile
strength, and high melting point. Market
Potential and Pitfalls The inflated demand for
lithium ion batteries are highly encouraging the
market growth across the globe. These batteries
are the standard power supply component which is
extensively used in electronic devices and other
vehicles. For instance, 106.5 KT of cobalt was
consumed globally in 2017, with majority of the
production catering to the manufacturing of
battery chemical. The extensive application of
cobalt in large-scale sectors like automotive and
electronics makes it a prime industrial material.
Due to a surging use in automotive and electronic
manufacturing sectors in the recent past, the
demand for Cobalt has witnessed an
upsurge. Electric vehicles have mushroomed
recently which is partly driving the demand for
lithium-ion batteries. With the rising focus on
shifting to vehicles running on clean energy to
an increased concern over the emission of CO2,
the market is reflecting a favorable growth.
Cobalt is also extensively used in the
manufacturing of various types of metal alloys
like superalloys, magnetic alloys, and
wear-resistant alloys. The tough nature of cobalt
can endure certain degree of rough handling. Such
factors are likely to trigger its demand over the
years. On the contrary, the high cost of refining
and mining of cobalt is considered to have a
negative impact on the investors confidence in
the industry worldwide. Moreover, the
irregularity in supply owing to the lack of
advanced infrastructure coupled with the
political instability in leading cobalt exporting
and exporting nations like the Democratic
Republic of the Congo is likely to vitiate the
market growth.
3
Cobalt Market Research Report- Forecast to 2023
Segmental Analysis
The Global Cobalt Market has been segmented on
the basis of Form and Application. By Mode of
Form, the Global Cobalt Market has been segmented
into chemical compound, metal, and purchased
scrap. Among these, the chemical compound is
likely to retain its pole position as it finds
widespread application in the manufacturing of
rechargeable batteries. Chemical compounds are
also used as a colorant for glass, porcelain,
tiles, pottery, and enamel wear, which drives the
segment. By Mode of Application, the Global
Cobalt Market has been segmented into super
alloys, battery chemicals, hard metals, ceramic
and pigments, binder materials, magnets, life
science, and others. Among these, the battery
chemicals segment commands the leading share in
the global market. The growth is ascribed to the
extensive use of cobalt to manufacture
rechargeable batteries for portable electronic
devices like laptops, mobile phones, and tablets
along with e-mobility vehicles like hybrid
vehicles, electric vehicles, electric bikes, and
electric trains. View Full Press Release _at_
https//www.marketresearchfuture.com/reports/cobal
t-market-6549
4
Cobalt Market Research Report- Forecast to 2023
Regional Outlook
Geographically, the Cobalt Market span across
regions namely, Europe, North America, Asia
Pacific, Latin America, and the Middle East
Africa. Considering the global scenario, the
Asia Pacific region is considered a highly active
market for cobalt, with China on the top list as
the most attractive nation for investment. China
has taken the lead position in processing and
refining of metal. The country has also emerged
as the major manufacturing hub for electronic
device, which makes it an important market for
several industrial materials. Most of the Cobalt
which is produced in the Democratic Republic of
Congo, considered the worlds top source of metal
is purchased by the Chinese companies like
Zhejiang Huayou Cobalt and is then refined back
to China. The strategy aims to control the supply
chain so that the production of electric car is
virtually impossible without the involvement of
China.
5
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

Get Free Sample _at_ https//www.marketresearchfuture
.com/sample_request/6549
6
ABOUT US
MARKET RESEARCH FUTURE At Market Research Future
(MRFR), we enable our customers to unravel the
complexity of various industries through our
Cooked Research Report (CRR), Half-Cooked
Research Reports (HCRR), Raw Research Reports
(3R), Continuous-Feed Research (CFR), and Market
Research Consulting Services. MRFR team have
supreme objective to provide the optimum quality
market research and intelligence services to our
clients. Our market research studies by products,
services, technologies, applications, end users,
and market players for global, regional, and
country level market segments, enable our clients
to see more, know more, and do more, which help
to answer all their most important questions. In
order to stay updated with technology and work
process of the industry, MRFR often plans
conducts meet with the industry experts and
industrial visits for its research analyst
members. For more information kindly visit
www.marketresearchfuture.com or contact us at
info_at_marketresearchfuture.com Copyright 2018
Market Research Future All Rights Reserved. This
document contains highly confidential information
and is the sole property of Market Research
Future. No part of it may be circulated, copied,
quoted, or otherwise reproduced without the
written approval of Market Research Future.
7
(No Transcript)