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The global cobalt market witnessed a demand of 115.54 kilo tons in 2020. The market is further expected to grow at a CAGR of 9% between 2020 and 2026 to reach a volume of 193.77 kilo tons by 2026.
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Cobalt is a significant by-product obtained from the mining of nickel and copper ores. It is refined first before it is made available in the market. These nickel and copper mining sites are majorly found in the Democratic Republic of Congo, China, Russia, Canada, and Australia, among others. The Democratic Republic of the Congo one of the largest producers of cobalt globally. China is a major consumer of the metal. It is also a significant manufacturer of the metal. The cobalt industry in China is likely to further grow due to the rising consumption of the metal as a battery material.
The increased demand for new energy vehicle-use batteries is further aiding the growth of the cobalt industry, globally. Batteries have become an increasingly prominent end-use for cobalt, which has significantly increased recently. Batteries account for the largest application sector, with 41% of cobalt used in battery production. Alloys and tool metals, together, account for around one-fourth of the product’s applications.
Cobalt is a bright, fragile chemical material used to create powerful alloys, permanent magnets, and hard metals with corrosion and thermal resistance. It is obtained as a by-product of copper and nickel mining. The silver-coloured metal is fragile and possesses a high melting point. It is preferred for its strength and wear resistance at high temperatures.
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Cobalt has major applications as a battery chemical. It is also highly valued as a catalyst. It also has wide applications in the production of turbine blades for jet engines, exhaust valves, gun barrels, and permanent magnets, as well as in the production of hard facing machine parts. It is also used in implants, including orthopaedic, dental implants, and prosthetic hips and knees. Thus, based on its applications, its market can be segmented into:
The report also covers the regional markets of the product like North America, Europe, the Middle East, and Africa, Asia Pacific, and Latin America.
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Cobalt is an extremely important and rare chemical element. With the growth in consumer electronics industry, the demand for rechargeable batteries is also growing, thus, supporting the growth of the global cobalt industry. Cobalt is a major chemical used for the production of batteries and, thus, the demand growth for the metal is aided by the rising demand for rechargeable batteries. Urbanisation and globalisation, along with the rising disposable incomes, are other factors guiding the growing demand for the latest gadgets like laptops, mobiles, smartwatches, etc. This further boosts the growth of the cobalt industry. The rise in gadget usage, especially among the youth, is also driving the growth of the industry.
The cobalt industry is also aided by the rising demand for the metal in the production of high-speed cutting tools for cutting products like diamonds, which are extremely hard. Electric vehicles are emerging as another significant driving factor for the rising cobalt demand. Electric vehicles, which are powered on batteries, also use cobalt-based batteries. Thus, the robust growth of the electric vehicles industry, globally, is expected to drive the cobalt industry growth in the forecast period. The rising population and the increasing penetration of consumer electronics in emerging economies are expected to act as additional catalysts for the industry growth in the coming years.
The report gives a detailed analysis of the following key players in the global cobalt market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The report covers the macro and micro aspects of the market and gives an in-depth insight into the manufacturing process and analyses the costs involved. The comprehensive EMR report provides a thorough assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis. It also offers a detailed analysis of the regional price trends for the historical (2017-2021) and forecast (2022-2027) periods, along with an assessment of the global trade data, covering the volume and value of the major exporting and importing countries.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Region|
|Breakup by Application||Batteries, Alloys, Tool Materials, Catalysts, Pigments, Magnets, Soaps, Others|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, Key Indicators for Price and Demand|
|Trade Data Analysis||Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume|
|Price Analysis||Historical and Forecast Price Trends- Regional|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Glencore plc, Vale S.A., Missouri Cobalt, LLC, CMOC International, Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Cobalt Market Analysis
8.1 Key Industry Highlights
8.2 Global Cobalt Historical Market (2017-2021)
8.3 Global Cobalt Market Forecast (2022-2027)
8.4 Global Cobalt Market by Application
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.4.3 Tool Materials
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
8.5 Global Cobalt Market by Region
8.5.1 Market Share
220.127.116.11 North America
18.104.22.168 Asia Pacific
22.214.171.124 Latin America
126.96.36.199 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
188.8.131.52 United States of America
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
184.108.40.206 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
220.127.116.11 Saudi Arabia
18.104.22.168 United Arab Emirates
22.214.171.124 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Global Cobalt Trade Analysis (2020)
12.1.1 Major Exporting Countries by Value & Volume
12.1.2 Major Importing Countries by Value & Volume
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Glencore plc
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
14.2.2 Vale S.A.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
14.2.3 Missouri Cobalt, LLC
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
14.2.4 CMOC International
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
15 Industry Events and Developments
List of Key Figures and Tables
1. Global Cobalt Market: Key Industry Highlights, 2016 and 2026
2. Global Cobalt Historical Market: Breakup by Application (Kilo Tons), 2017-2021
3. Global Cobalt Market Forecast: Breakup by Application (Kilo Tons), 2022-2027
4. Global Cobalt Historical Market: Breakup by Region (Kilo Tons), 2017-2021
5. Global Cobalt Market Forecast: Breakup by Region (Kilo Tons), 2022-2027
6. North America Cobalt Historical Market: Breakup by Country (Kilo Tons), 2017-2021
7. North America Cobalt Market Forecast: Breakup by Country (Kilo Tons), 2022-2027
8. Europe Cobalt Historical Market: Breakup by Country (Kilo Tons), 2017-2021
9. Europe Cobalt Market Forecast: Breakup by Country (Kilo Tons), 2022-2027
10. Asia Pacific Cobalt Historical Market: Breakup by Country (Kilo Tons), 2017-2021
11. Asia Pacific Cobalt Market Forecast: Breakup by Country (Kilo Tons), 2022-2027
12. Latin America Cobalt Historical Market: Breakup by Country (Kilo Tons), 2017-2021
13. Latin America Cobalt Market Forecast: Breakup by Country (Kilo Tons), 2022-2027
14. Middle East and Africa Cobalt Historical Market: Breakup by Country (Kilo Tons), 2017-2021
15. Middle East and Africa Cobalt Market Forecast: Breakup by Country (Kilo Tons), 2022-2027
16. Global Cobalt Market Structure
In 2020, the global cobalt market attained a volume of nearly 115.54 kilo tons.
The market is projected to grow at a CAGR of 9% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about volume of 193.77 kilo tons by 2026.
The major drivers of the industry, such as rising disposable incomes, increasing population, increased demand for new energy vehicle-use batteries, rising demand from the developing regions, and rising demand for the metal, are expected to aid the market growth.
The key trend guiding the growth of the market is the emergence of electric vehicles.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Batteries, alloys, tool materials, catalysts, pigments, magnets, and soaps, among others, are the major application segments of cobalt in the industry.
The major players in the industry are Glencore plc, Vale S.A., Umicore, Missouri Cobalt, LLC, and CMOC International, among others.
The global cobalt market attained a volume of nearly 115.54 kilo tons in 2020, driven by the increased demand for new energy vehicle-use batteries. The market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 9%. The market is projected to reach the volume of 193.77 kilo tons by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its application segments, the global cobalt industry can be segmented into batteries, alloys, tool materials, catalysts, pigments, magnets, and soaps, among others. The major regional markets for cobalt are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Glencore plc, Vale S.A., Umicore, Missouri Cobalt, LLC, CMOC International, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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