Cobalt Market Analysis, Insight, & Scenario, Challenges, Scope for Expand to Latest Development 2029
Cobalt Market
was valued at USD 8634.52 million in 2021 and is expected to reach USD 22792.39
million by 2029, registering a CAGR of 12.90% in 2022-2029. In addition to the
market insights such as market value, growth rate, market segments,
geographical coverage, market players, and market scenario, the market report
curated by the Data Bridge Market Research team also includes in-depth expert
analysis, import/export analysis, pricing analysis, production consumption
analysis, and climate chain scenario. 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.
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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:
- Batteries
- Alloys
- Tool Materials
- Catalysts
- Pigments
- Magnets
- Soaps
- Others
Asia-Pacific
dominates the market in terms of market share and market revenue and will
continue to flourish its dominance during the forecast period of 2022-2029. The
market growth over this region is attributed to China's high demand for
cobalt.On the other hand, Europe is estimated to show lucrative growth over the
forecast period of 2022-2029, due to the strict regulations pertaining to
the fuel-economy standards and vehicle emissions in this particular
region.
Highlight
of Table of Content:
·
Chapter 1: Market overview
·
Chapter 2: Global Cobalt Market Analysis
·
Chapter 3: Regional analysis of the Global Cobalt Market
·
Chapter 4: Market segmentation based on types and applications
·
Chapter 5: Revenue analysis based on types and applications
·
Chapter 6: Market share
·
Chapter 7: Competitive Landscape
·
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
·
Chapter 9: Gross Margin and Price Analysis
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Some of
the major players covered in the report are Dupont (U.S.), Dow (U.S.), Umicore
(Belgium), Glencore (Switzerland), Jinchuan Group International Resources
Co. Ltd (China), Huayou Cobalt Co., Ltd (China), Freeport Cobalt
(Finland), Sherritt International Corporation (Canada), SOLVAY (Belgium),
DAIKIN (Japan), BHP (Australia), Eramet (France), Vale
(Brazil), Votorantim Metais SA (Brazil), and Sumitomo Corporation (Japan)
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Profound Questions Answered in this Report:
·
What is the growth rate of various
stages in the value chain of the industry?
·
Which region has the highest growth
rate and size of the emerging market by value in 2022?
·
Who are the competitive players in Cobalt
Market?
·
Which region has the largest share
and degree of competition in the industry?
·
What is the CAGR of the market during
the forecast period 2022 to 2029?
·
Which region is expected to hold the
highest market share for the market?
·
What is the main driver of the
Cobalt
Market?
·
What is sales volume, revenue, and
price analysis of top players of the market?
·
What are the market opportunities
and threats faced by the vendors in the industry?
·
What has been the impact of COVID-19
on the Cobalt Market?
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