Cobalt Market Overview:
The Cobalt Market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Cobalt Market, as well as the causes for variances in the industry’s growth across a variety of sectors.
Cobalt Market demand in 2021 of 115.53 Kilo tons and the Cobalt market is grow at CAGR 9%, and it is expected to reach 230.21 Kilo tons by 2029.
Market Scope:
Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
Segmentation:
Cobalt is metal that is used as a raw material for manufacturing Lithium-ion batteries, Cutting tools, magnetic materials, petrochemical catalysts etc. 98 % of cobalt is a by-product of nickel. In 2021 the cobalt world trade was US $ 4.83 Bn in that top exporter is Democratic Republic of Congo holding the market of US $ 1.91 Bn and Top Importer were China (the US $ 2.13 Bn). The ranking of Cobalt in the Product Complexity Index is 875th. The cobalt industry has been criticized for the high societal cost of upstream extraction, particularly in the Democratic Republic of Congo. In 2021, the DRC is estimated to contribute around 69 % of mined cobalt.
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Key Players:
• Glencore plc (Switzerland)
• Umicore (Belgium)
• Vale S.A. (Brazil)
• Jinchuan Group Internation Resources Co. Ltd. (Hong Kong)
• Huayou cobalt Co Ltd (China)
• Freeport cobalt (Finland)
• Sherrit International Corporation (Canada)
• BHP (Australia)
• Eramet (France)
• Votorantim Metals SA (Brazil)
• Sumitomo Corporation (Japan)
• CMOC International
• Missouri Cobalt, LLC
• China Molybdenum Co., Ltd.
• Norilsk Nickel
• GEM Co., Ltd.
• Yantai Cash Industrial Co Ltd.
• Horizonte Minerals
• Jervois Mining
• FLEURETTE PROPERTIES LIMITED
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Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeCobaltg executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeCobaltg executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
The biggest players in the Cobalt market are as follows:
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Regional Analysis:
Individual market influencing components and changes in market laws impacCobaltg current and future market trends are also covered in the Cobalt market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer fooCobaltg. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Cobalt Market:
End-user industries where Cobalt are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Cobalt manufacturers, harming the Cobalt market’s growth in 2020. End-user business demand for Cobalt has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.
Key Questions Answered in the Cobalt Market Report are:
- In 2021, which segment accounted for the most share of the Cobalt market?
- What is the competitive landscape of the Cobalt market?
- What are the key factors influencing Cobalt market growth?
- In the Cobalt market, which region has the most market share?
- What will be the CAGR of the Cobalt market during the forecast period (2022-2027)?
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