Cobalt Market 2019 Manufacturers, Countries, Type and Application, Forecast to 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
The Global Cobalt Market is expected to reach
the benchmark of USD 9900 million at an
impressive CAGR during the forecast period
(2018-2023). Cobalt has the symbol Co and the
cobalt color is a bluish, silvery gray. This
metal is generally obtained through mining iron,
copper, lead, silver and nickel. Some of its
crucial features include high melting point, hard
wearing, remarkable energy density and others.
Cobalt has wonderful properties, no wonder it is
a perfect element to use in myriad industrial
applications such as the medical domain,
electronics, automotive and aerospace. Its main
ores include skutterudite, glaucodot, erythrite
and cobaltite. Besides, cobalt is useful for
humans as it is a part of vit B12 that is vital
for human health. In fact, cobalt is used for
treating anemia in pregnant women owing to the
fact that it helps in stimulating the production
of RBC (red blood cells). The cobalt uses do not
end here. Cobalt is a key element that is used in
lithium-ion batteries that are used heavily in
manufacturing electronics. Most consumer
electronics that is used regularly such as
laptops, mobile phones and tablets too use
lithium-ion batteries. These batteries are in
great demand as it is environmentally efficient
thereby offering a cleaner substitute to the
traditional energy sources. There are many
factors that is fueling the growth of the Cobalt
Market. The different market trends and factors
in this market according to an analysis performed
by Market Research Future (MRFR) include
increasing demand for lightweight electric
vehicles, growing use in the medical domain,
growing use in the airplane engines, increasing
need for lithium-ion rechargeable batteries and
shift towards vehicles that run on clean-energy.
On the other hand, some factors that may hamper
the growth of the cobalt market include soaring
cost of cobalt, shortage of advanced
infrastructure, irregularity in supply and
political instability in top cobalt exporting and
producing countries.
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Cobalt Market Research Report- Forecast to 2023
Segmental Analysis
In the Market Research Future (MRFR) report, the
Cobalt Market has been segmented on the basis of
Application and Form. Based on Application, the
market is segmented into life science, binder
materials, magnets, hard metals, pigments,
ceramic, super alloys and battery chemicals. Of
these, the battery chemicals have the maximum
share in the Cobalt Market. This is owing to the
extensive usage of cobalt to manufacture
rechargeable batteries for e-mobility vehicles
such as electric bikes, electric trains, hybrid
vehicles and electric vehicles coupled with its
use in portable electronic gadgets such as
tablets, laptops and mobile phones. The sale of
consumer electronic gadgets continues to stay on
the upward trajectory with digitization trends
getting prominent. Based on Form, the Cobalt
Market has been segmented into purchased scrap,
chemical compound and metal. Of these, the
chemical compound is anticipated in retaining the
highest position by 2023. Chemical compounds that
are cobalt based find extensive usage in the
making of rechargeable batteries. Besides, it is
also used in the form of a colorant for enamel
wear, tiles, pottery, glass and porcelain. Get
Complete Report _at_ https//www.marketresearchfuture
.com/reports/cobalt-market-6549
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Cobalt Market Research Report- Forecast to 2023
Regional Outlook
Based on Region, the Cobalt Market covers
growth opportunities and latest trends across
North America, Asia Pacific, Europe, the Middle
East and Africa and South America. Of these, the
APAC region will remain the most active market
with China heading the list being a highly
attractive investment destination. On the other
hand, the Democratic Republic of the Congo will
remain the biggest cobalt producers and China
will lead with respect to processing and refining
the metal. Further, China has emerged as a
leading electronic device manufacturing hub
thereby making it a vital market for different
industrial materials especially 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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