Cobalt Market Research Report - Forecast to 2023 Industry Survey, Growth, Competitive Landscape and Forecasts to 2023 PREPARED BY Market Research Future (Part of Wantstats Research & Media Pvt.) Ltd.)

Cobalt Market Research Report- Forecast to 2023 The Global Cobalt Market is growing rapidly, witnessing a massive demand for Cobalt in the production of batteries. Cobalt is a crucial chemical compound used in the manufacturing of lithium-ion batteries. Hence increasing usages of battery oriented electronic devices is a key factor boosting the size of the market. Moreover, widespread application in large-scale sectors such as electronics and automotive escalate the market on the global platform. According to Market Research Future (MRFR), the Global Cobalt Market is poised to witness substantial growth by In its recently published analysis, MRFR also asserts that the market would register a CAGR over 8.25% throughout the forecast period (2018 to 2023). Lithium-ion batteries are currently the standard power supply component used in electronic devices and vehicles. Robust demand for lithium-ion batteries is expected to continue driving the market demand. Additional factors helpful in substantiating the growth of the market, include the ever-increasing population, rapid urbanization, and industrialization, worldwide. Besides, improving economic conditions are playing a vital role in the growth of the market, increasing consumers’ purchasing power and the demand for battery- operated electronics devices. Cobalt is also used as a catalyst in various chemical processes. As a result, a majority share of the cobalt production caters to battery chemical manufacturing applications. The shortage for the metal is likely to grow at an above-average rate over the next few years. Cobalt suppliers continually seek new sources to meet the rising demand for the metal. Cobalt Market - Overview

Cobalt Market Research Report- Forecast to 2023 The Report is Segmented into three market dynamics to widen the scope of understanding, By Application: Battery Chemicals, Super Alloys, Ceramic & Pigments, Hard Metals, Magnets, Binder Materials, and Life Science, among others. By Form: Metal, Chemical Compound, and Purchased Scrap, among others. By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World. View Full Press Segmental Analysis

Cobalt Market Research Report- Forecast to 2023 Regional Outlook The Asia Pacific region dominates the Global Cobalt Market with the largest market share. The region has long been attracting foreign suppliers with its raw material advantage and the availability of cost-competitive workforce. Resultantly, the numbers of key companies in the region are continually rising, which is a substantial driving force pushing the growth of the regional market. Besides, rapid industrialization in the region drives the growth of the market. Being the largest producer and consumer of Cobalt, the region is estimated to register the highest CAGR during the forecast period. Continuing with the same trends, such as the increasing emphasis on the development of product & manufacturing process and the growing application industries, the region would continue with its dominance throughout the forecast period. The Cobalt Market in North America stands the second position, globally, due to the presence of prominent manufacturers, those are equipped with the superior product offering. Heading with the high consumption of Cobalt in the manufacturing of lithium-ion batteries, the region is estimated to create a substantial revenue pocket by the end of the forecast period. The Europe Cobalt Market is rapidly emerging as a promising market globally. The market growth is majorly propelled by the increasing demand and sales of battery-operated electronics, especially in the UK, France, Italy, and Germany. The proliferation of electric vehicle is a key growth driver pushing the regional market growth.

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 Get a Free

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