Our latest research report entitled Cobalt Market (by application (alloys, batteries, catalysts, pigments, and coloring, radioisotopes, other uses), end-user (oil and gas, chemical, automotive, pharmaceuticals, aerospace, defense, healthcare, electronics, construction, transportation)) provides complete and deep insights into the market dynamics and growth of Cobalt. The latest information on market risks, industry chain structure Cobalt cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Cobalt growth factors.
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Growing Use of Lithium-Ion Batteries in the in Several Applications are Driving the Growth
Cobalt is the chemical element with atomic number 27. On the periodic table, cobalt can originate among the d-block elements, transition metals. Cobalt has high melting and boiling points that help to retain its strength at high temperatures. Cobalt is recovered as a byproduct of mining and refining of nickel, silver, led, copper and iron. Cobalt is an important technology enabling metal that is vastly used in the various application where energy storage, high-temperature resilience, hardness, and process efficiency are required. Cobalt is used for a number of industrial and biological applications.
According to the Cobalt Institute, around 50% of the cobalt produced globally is found in rechargeable batteries. Cobalt with its components plays a vital role in the construction of lithium-ion batteries. The growing use of lithium-ion batteries in several applications is driving the growth cobalt market. In the integrated circuits, the cobalt is used as contacts that connect different components of an integrated circuit owing to its unique physicochemical properties. Thus, this factor is contributing to the growth of the cobalt market Furthermore, copper is being replaced by the cobalt in the integrated circuits that anticipated to boost the growth of the cobalt market.
Cobalt is a bio-essential element due to its location at the center of vitamin B12. According to Cobalt Institute, Vitamin B12 plays a number of vital roles in the physiology of the human body. Cobalt is also important in treatments of radiotherapy. In addition, cobalt is also used in the detection of tumors and metastases, sterilization of surgical equipment and the imaging of damage to the brain. The various biomedical applications contribute to the growth of the cobalt market.
However, a wide number of human health, environmental, trade, and energy regulations on the use of cobalt are hampering the growth of the cobalt market. Additionally, the Semiconductor equipment vendor is taking the initiative to use the cobalt in semiconductor manufacturing. The growing awareness about sustainable and renewable energy is also helping to create more growth opportunities in the cobalt market in upcoming years.
The Asia Pacific Holds the Maximum Market Share in the Cobalt Market
Regionally, Asia Pacific holds the maximum market share in the cobalt market. It is also and fastest-growing region in this market. The rapidly growing consumer electronics and automotive industries in the Asia Pacific creates a huge demand for the cobalt. Thus, these factors are driving the growth of the cobalt market in the Asia Pacific region. In addition, increasing applications of cobalt in the Oil & Gas, Chemical, Construction, and transport are contributing to the growth of the cobalt market in this region. Additionally, the growing use of cobalt in semiconductor manufacturing is fueling the growth of this market in the Asia Pacific region.
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Report on Global Cobalt Market Covers Segments such as Application, and End User.
On the basis of application, the sub-markets include alloys, batteries, catalysts, pigments and coloring, radioisotopes, and other uses. On the basis of the end-user, the sub-markets include oil and gas, chemical, automotive, pharmaceuticals, aerospace & defense, healthcare, electronics, construction, and transportation.
The report provides profiles of the companies in the market such as Glencore plc, Fleurette Group, Vale S.A., Gécamines SA, China Molybdenum Company Limited, Jinchuan Group Ltd., Eurasian Resources Group S.à r.l., Huayou Cobalt Co., Ltd., Jiangsu Cobalt Nickel Metal Co., Ltd., Shenzhen Green Eco-manufacture Hi-tech Co., Ltd., and Sumitomo Metal Mining Co., Ltd.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/chemical-material/global-cobalt-market
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Cobalt.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.