New York, United States, Oct. 18, 2022 (GLOBE NEWSWIRE) -- While the traditional use of cobalt extends to date in providing a brilliant blue color to ceramics, glassware, and inks, newer applications have evolved to take center stage. For instance, cobalt superalloys are extensively used in gas turbines, where high-temperature resistance and resistance to corrosion are crucial. Cobalt is also a key contributor to the development of a greener society as it acts as a catalyst in desulphurization reactions for clean fuels and gas-to-liquid technology. It is also required in industrial processes such as the creation of recyclable plastics.
Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/cobalt-market/request-sample
The Global Rush to Electric Mobility
The Democratic Republic of Congo has the largest cobalt reserves in the world and exports raw materials to China for further use. China is the largest global consumer of lithium and has invested USD 4,200 million in lithium deals in South America alone. The country enjoys foreign investments in the automobile sector from the European region and buys electric battery and vehicle manufacturing companies in Japan, South Korea, and Europe. China’s rush to become the global supplier of rechargeable batteries is expected to drive the cobalt market.
Report Scope
| Report Metric | Details |
| Market Size | USD 19.45 Billion by 2030 |
| CAGR | 9.3% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, End-User, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | BHP, China Molybdenum Co., Ltd, Eramet , Eurasian Resources Group , Fleurette Properties Limited , Freeport Cobalt , Gecamines , Glencore plc , Huayou Cobalt Co., Ltd , Jinchuan Group International Resources CoLtd , Shenzhen Green Eco-manufacture Hi-tech Co., Ltd, Sherritt International Corporation , Sumitomo Corporation , Umicore , Vale S.A, Votorantim Metais SA , |
| Key Market Opportunities | Digital processing are expected to drive the global cobalt market in the coming years. |
| Key Market Drivers | Novel Applications of Cobalt in Innovation & Technology |
Buy Now Full Report @ https://straitsresearch.com/buy-now/cobalt-market
New Growth Avenues: The Demand for Cobalt in B12 Dietary Supplements
Recent lifestyle changes and irregular dietary patterns are leading to deficiencies and health problems among adults, globally. For instance, B12 deficiency is common among adults, affecting 2–15% of the general population. Cobalt is an essential element for health and vitality in humans and forms a part of Vitamin B12, which is solely present in animal-derived foods, such as milk products, eggs, and meats. Thus, dietary supplements manufacturers are also demanding cobalt for use in their products, which is expected to provide a fillip to the global demand for cobalt.
Key Highlights
- The global cobalt market size is projected to reach USD 19,470 million by 2030 at a CAGR of 9.3% from 2022 to 2030.
- The rechargeable batteries segment by application is projected to hold a 20–35% value share, primarily fuelled by stringent emission regulations and the shift to battery-operated vehicles
- Solar and wind power use cobalt in the batteries as it can store renewable energy, and cobalt is also used in generating energy from biogas plants; thus, the emerging applications of cobalt in renewable energy are expected to drive market growth
- China is expected to dominate the global cobalt market, against a backdrop of favorable government initiatives such as Made in China 2025
Some of the key players profiled in the global cobalt market are
- BHP, China Molybdenum Co., Ltd.
- Eramet
- Eurasian Resources Group
- Fleurette Properties Limited
- Freeport Cobalt
- Gecamines
- Glencore plc
- Huayou Cobalt Co., Ltd
- Jinchuan Group International Resources Co. Ltd
- Shenzhen Green Eco-manufacture Hi-tech Co., Ltd
- Sherritt International Corporation
- Sumitomo Corporation
- Umicore
- Vale S.A., and Votorantim Metais SA
Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/cobalt-market/request-sample
Cobalt Market: Segmentation
By Application
- Rechargeable Batteries
- Catalysts
- Inks and pigments
- Alloys
- Magnet
- Plating
- Others
By End-User
- Electronics
- Healthcare
- Aerospace
- Industrial Process
- Automotive
- Others
By Region
- North America
- Europe
- Asia-Pacific
- South America
- Middle-East
- Africa
TABLE OF CONTENTS
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Cobalt Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environmental & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
5 Application Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Rechargeable Batteries
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Catalysts
5.3.1 Market Size & Forecast (Value & Volume)
5.4 Inks & Pigments
5.4.1 Market Size & Forecast (Value & Volume)
5.5 Alloys
5.5.1 Market Size & Forecast (Value & Volume)
5.6 Magnet
5.6.1 Market Size & Forecast (Value & Volume)
5.7 Plating
5.7.1 Market Size & Forecast (Value & Volume)
5.8 Others
5.8.1 Market Size & Forecast (Value & Volume)
6 End-User Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Electronics
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Healthcare
6.3.1 Market Size & Forecast (Value & Volume)
6.4 Aerospace
6.4.1 Market Size & Forecast (Value & Volume)
6.5 Industrial Process
6.5.1 Market Size & Forecast (Value & Volume)
6.6 Automotive
6.6.1 Market Size & Forecast (Value & Volume)
6.7 Others
6.7.1 Market Size & Forecast (Value & Volume)
7 Regional Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.2.3 The U.S.
7.2.3.1 By Application
7.2.3.2 By End-User
7.2.4 Canada
7.2.4.1 By Application
7.2.4.2 By End-User
7.2.5 Mexico
7.2.5.1 By Application
7.2.5.2 By End-User
7.3 Central and South America and the Caribbean
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.3 Brazil
7.3.3.1 By Application
7.3.3.2 By End-User
7.3.4 Argentina
7.3.4.1 By Application
7.3.4.2 By End-User
7.3.5 Colombia
7.3.5.1 By Application
7.3.5.2 By End-User
7.3.6 The Rest of Central and South America and the Caribbean
7.3.6.1 By Application
7.3.6.2 By End-User
7.4 Europe
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.3 Germany
7.4.3.1 By Application
7.4.3.2 By End-User
7.4.4 France
7.4.4.1 By Application
7.4.4.2 By End-User
7.4. 5 The U.K.
7.4.5.1 By Application
7.4.5.2 By End-User
7.4.6 Italy
7.4.6.1 By Application
7.4.6.2 By End-User
7.4.7 The Rest of Europe
7.4.7.1 By Application
7.4.7.2 By End-User
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.3 China
7.5.3.1 By Application
7.5.3.2 By End-User
7.5.4 Japan
7.5.4.1 By Application
7.5.4.2 By End-User
7.5.5 India
7.5.5.1 By Application
7.5.5.2 By End-User
7.5.6 Australia
7.5.6.1 By Application
7.5.6.2 By End-User
7.5.7 South Korea
7.5.7.1 By Application
7.5.7.2 By End-User
7.5.8 The Rest of APAC
7.5.8.1 By Application
7.5.8.2 By End-User
7.6 Middle East
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 Saudi Arabia
7.6.3.1 By Application
7.6.3.2 By End-User
7.6.4 The UAE
7.6.4.1 By Application
7.6.4.2 By End-User
7.6.5 Qatar
7.6.5.1 By Application
7.6.5.2 By End-User
7.6.6 Oman
7.6.6.1 By Application
7.6.6.2 By End-User
7.6.7 Turkey
7.6.7.1 By Application
7.6.7.2 By End-User
7.6.8 The Rest of ME
7.6.8.1 By Application
7.6.8.2 By End-User
7.7 Africa
7.7.1 Economic Overview
7.7.2 Market Scenario
7.7.3 Nigeria
7.7.3.1 By Application
7.7.3.2 By End-User
7.7.4 South Africa
7.7.4.1 By Application
7.7.4.2 By End-User
7.7.5 The Rest of Africa
7.7.5.1 By Application
7.7.5.2 By End-User
8 Competitive Landscape — Manufacturers & Suppliers
8.1 Competition Dashboard
8.2 Industry Structure
8.3 BHP
8.3.1 Business Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.3.4 Product Portfolio
8.4 China Molybdenum Co., Ltd
8.4.1 Business Overview
8.4.2 Financial Performance
8.4.3 Recent Developments
8.4.4 Product Portfolio
8.5 Eurasian Resources Group
8.5.1 Business Overview
8.5.2 Financial Performance
8.5.3 Recent Developments
8.5.4 Product Portfolio
8.6 Fleurette Properties Limited
8.6.1 Business Overview
8.6.2 Financial Performance
8.6.3 Recent Developments
8.6.4 Product Portfolio
8.7 Freeport Cobalt
8.7.1 Business Overview
8.7.2 Financial Performance
8.7.3 Recent Developments
8.7.4 Product Portfolio
8.8 Glencore plc
8.8.1 Business Overview
8.8.2 Financial Performance
8.8.3 Recent Developments
8.8.4 Product Portfolio
8.9 Huayou Cobalt Co., Ltd
8.9.1 Business Overview
8.9.2 Financial Performance
8.9.3 Recent Developments
8.9.4 Product Portfolio
8.10 Jinchuan Group International Resources Co. Ltd
8.10.1 Business Overview
8.10.2 Financial Performance
8.10.3 Recent Developments
8.10.4 Product Portfolio
8.11 Shenzhen Green Eco-manufacture Hi-tech Co., Ltd.
8.11.1 Business Overview
8.11.2 Financial Performance
8.11.3 Recent Developments
8.11.4 Product Portfolio
8.12 Sherritt International Corporation
8.12.1 Business Overview
8.12.2 Financial Performance
8.12.3 Recent Developments
8.12.4 Product Portfolio
9 Conclusion & Recommendation
10 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/cobalt-market/toc
News Media
Have a Look at the Related Research Report?
Lithium-Ion Battery Metals Market: Information by Constituent Metal (Lithium, Cobalt, Nickel), End-User Application (Automotive, Consumer Electronics), and Region — Forecast till 2030
Superalloys Market: Information by Base Material (Nickel-Based, Cobalt-Based), Type (Wrought), Application (Aerospace, Industrial Gas Turbine, Automotive), and Region — Forecast till 2030
Radiosurgery Market: Information by Indication (Cobalt 60 Systems, Electron Emitting High-Energy Linear Accelerator), End User (Hospitals, Clinics), and Region — Forecast till 2026
Battery Management IC Market: Information by Type (Battery Charger IC, Fuel Gauge IC, and Authentication IC), Application (Healthcare and Automotive), and Region — Forecast till 2029
About Straits Research Pvt. Ltd.
StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
For more information on your target market, please contact us below:
Phone: +1 646 480 7505 (the U.S.)
+91 8087085354 (APAC)
+44 208 068 9665 (the U.K.)
Email: sales@straitsresearch.com
Follow Us: LinkedIn | Facebook | Instagram | Twitter
