Cobalt Market Overview
As per recent research by MarkNtel Advisors, the global Cobalt Market size is estimated to grow at a CAGR of around 6.2% during the forecast period, i.e., 2024-30.
Cobalt Market Dynamics
Market Drivers : Escalating Demand for Electric Vehicles Augmenting the Market Growth –
In the past few years, consumers have shifted towards electric vehicles due to the increase in price of petrol and diesel. Due to this, the demand for electric vehicles has increased, the batteries of electric vehicles have cobalt in them, which increases the demand for cobalt. According to the International Energy Agency (IEA), electric vehicles are seeing exponential growth and are expected to grow from approximately 140 million by 2030 and reach 900 million by 2050. This growing number of electric vehicles would increase the Global Cobalt Market Size in the forthcoming years.
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Cobalt Market Segmentation Overview 2024-2030: Key Factors
By Application
-Battery Chemicals – Market Size & Forecast 2019-2030F, Thousand Tons
-Super Alloys- Market Size & Forecast 2019-2030F, Thousand Tons
-Catalyst – Market Size & Forecast 2019-2030F, Thousand Tons
-Ceramics & Pigments- Market Size & Forecast 2019-2030F, Thousand Tons
-Binder Materials- Market Size & Forecast 2019-2030F, Thousand Tons
By Form
-Chemical Compound- Market Size & Forecast 2019-2030F, Thousand Tons
-Metal- Market Size & Forecast 2019-2030F, Thousand Tons
-Purchased Scrap- Market Size & Forecast 2019-2030F, Thousand Tons
By End User
-Electronics- Market Size & Forecast 2019-2030F, Thousand Tons
-Aerospace- Market Size & Forecast 2019-2030F, Thousand Tons
-Automotive- Market Size & Forecast 2019-2030F, Thousand Tons
-Chemical- Market Size & Forecast 2019-2030F, Thousand Tons
-Pharmaceutical- Market Size & Forecast 2019-2030F, Thousand Tons
-Others (Oil & Gas)- Market Size & Forecast 2019-2030F, Thousand Tons
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Cobalt Market Geographical Insights:
By Region:
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
Key Players and Competitive Strategies in the Cobalt Market
Several prominent players dominate the Cobalt Market, including:
- Glencore Plc.
- Missouri Cobalt
- Jinchuan Group International Ltd.
- CMOC Group
- Eurasian Resources Group
- Huayou Cobalt
- Sumitomo Cobalt Mining
- Cobalt Blue Holdings
- Panoramic Resources Ltd.
- Sherritt International
- Others
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Questions Addressed in this Study
1.How big is the Cobalt Market Size?
2.What is the Cobalt Market Growth?
3.Who are the key players of the Cobalt Market?
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