Global Cobalt Market to be Driven by the Rising Application of Cobalt in various End-Use Industries in the Forecast Period of 2022-2027

 


The new report by Expert Market Research titled, ‘Global Cobalt Market Size, Report and Forecast 2022-2027’, gives an in-depth analysis of the global cobalt market, assessing the market based on its segments like applications and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Cobalt Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

Get a Free Sample Report with Table of Contents – https://www.expertmarketresearch.com/reports/cobalt-market/requestsample

The key highlights of the report include:

Market Overview (2017-2027)

• Historical Market Volume (2020): USD 115.54 Kilo Tons
• Forecast CAGR (2021-2026): 9%
• Forecast Market Volume (2026): USD 193.77 Kilo Tons

Report AttributeDetails
Historical Period2017-2021
Forecast Period2022-2027
Base Year2020
Market Size in 2020USD 115.54 Kilo Tons
Revenue Forecast in 2026USD 193.77 Kilo Tons
Growth Rate CAGR9%
Major PlayersGlencore plc, Vale S.A., Missouri Cobalt, LLC, and CMOC International, among others.

The increasing utilisation of cobalt as an essential constituent of materials which are used in high-tech industries, such as automotive, and aerospace and defence, among others, is driving the market. The growing demand for cobalt as a clean-energy metal in the production of lithium-ion batteries to manufacture electric vehicles is further boosting the market growth.

Over the forecast period, increasing application of cobalt in the healthcare industry as a tracer for cancer treatment and in the radiotherapy is anticipated to bolster the market growth. In terms of region, the Asia Pacific region accounts for a significant share in the market owing the robust production of electric vehicles in China, and Japan, among others.

Cobalt Industry Definition and Major Segments

Cobalt is a bluish-white chemical element which is used to manufacture heat-resistant and magnetic alloys. Cobalt has been used since the bronze age, mainly to impart rich blue colour to glass and ceramics. Cobalt is a hard, lustrous, ferromagnetic, and brittle material which plays an important role in the biochemical reactions that are essential for life. Moreover, it is obtained as a by-product from the mining of nickel and copper ores.

Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/cobalt-market

On the basis of application, the market can be segmented into:

• Batteries
• Alloys
• Tool Materials
• Catalysts
• Pigments
• Magnets
• Soaps
• Others

The regional markets for cobalt include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Cobalt Market Trends

The key trends in the cobalt market include the rising demand for rechargeable batteries in the consumer electronics industry owing to the increasing adoption of high-tech gadgets, increasing standards of living, and rapid urbanisation. The increasing sales of consumer electronics and batteries through the e-commerce industry is likely to bolster the demand for cobalt in the forecast period.

Furthermore, the growing R&D activities and increasing expenditure in the healthcare sector aimed towards treating cancer is anticipated to invigorate the market in the coming years. The market is likely to be aided by the increasing demand for orthopaedic and dental implants among the geriatric population. Hence, these developments are anticipated to spearhead the market in the forecast period.

Key Market Players

The major players in the market are:

  • Glencore plc
  • Vale S.A
  • Missouri Cobalt
  • LLC
  • CMOC International
  • Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

Related Reports

Cementless Total Knee Arthroplasty Market: https://www.expertmarketresearch.com/reports/cementless-total-knee-arthroplasty-Market 

Dye-Sublimation Printing Market: https://www.expertmarketresearch.com/reports/dye-sublimation-printing-market 

Electrolyser Market:  https://www.expertmarketresearch.com/reports/electrolyser-market 

Artificial Intelligence in Life Sciences Market:  https://www.expertmarketresearch.com/reports/artificial-intelligence-in-life-sciences-market

Lithium-Ion Battery Manufacturers: https://www.expertmarketresearch.com/articles/top-lithium-ion-battery-companies

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skillful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

Media Contact:

Company Name: Claight Corporation
Contact Person: Sophia Grace, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: www.expertmarketresearch.com
LinkedIn:- https://www.linkedin.com/company/expert-market-research

Popular posts from this blog

GCC LED Lighting Market Size, Trends, Growth, Forecast & Industry Report 2024-2032

Image
According to IMARC Group, the GCC led lighting market share reached us$ 876.9 million in 2023 . Looking forward, Imarc group expects the market to reach us$ 2,174.9 million by 2032, exhibiting a growth rate (CAGR) of 10.3% during 2024-2032. The report has segmented the market by product type (panel lights, down lights, street lights, and others), application (residential, commercial, industrial, and others), import and domestic manufacturing (imports, domestic manufacturing), public and private sectors (public sector, private sector), outdoor and indoor application (indoor, outdoor), and region. Request to Get the Sample Report: https://www.imarcgroup.com/gcc-led-lighting-market/requestsample What is the LED Lighting Market ? Light Emitting Diode (LED) lighting has emerged as a transformative technology in the field of illumination, revolutionizing the lighting solutions are perceived and utilized. LEDs are semiconductor devices that emit light when an electrical current passes...
Read more

Blood Group Typing Market Size, Key Facts, Dynamics, Segments and Forecast Report 2023-2028

Image
  The new report by Expert Market Research titled, ‘Global  Blood Group Typing Market Size , Trend, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global blood group typing market. It assesses the market based on its segments like offerings, techniques, test types, end-uses, and major regions. Get a Free Sample Report with Table of Contents@   https://www.expertmarketresearch.com/reports/blood-group-typing-market/requestsample The key highlights of the report include: Market Overview 2018-2028 • Historical Market Size (2021):  USD 2 billion • Forecast CAGR (2023-2028):  9.10% • Forecast Market Size (2027):  USD 3.37 billion The market for blood group typing is being driven by the increasing prevalence of chronic diseases, along with the rising demand for blood from various end-users such as hospitals and clinics, research institutes, and blood banks, among others. The increasing number of emergencies and road accidents t...
Read more

Global Civil Engineering Market Size to Grow at a CAGR of 5.2% in the Forecast Period of 2023-2028

Image
The ‘Global   Civil Engineering Market Growth , Size, Share, Trend, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global civil engineering market, assessing the market on the basis of its segments like services, applications, customers, and major regions. The report studies the latest updates in the market, along with their impact across the market. It is also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models. Civil Engineering Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast The key highlights of the report include: Market Overview (2018-2028) • Forecast CAGR (2023-2028):  5.2% Civil engineering provides efficient and reliable assistance in building large structures, ensures environmental safety, facilitates coordination with transportation to manage traffic, and enables the understa...
Read more