Global Cobalt Market Research Report: by Form (Chemical Compound, Metal, Purchased Scrap), By Application and By Region Forecast to 2023
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Higher demand for lithium particle batteries keeps on driving the worldwide supply of cobalt. Lithium particle batteries are right now the standard power supply segment utilized in electronic gadgets and vehicles. Cobalt providers are looking for new sources to satisfy the rising need for the metal. In 2017, 106.5 KT of cobalt was devoured all around, with a dominant share of production taking into account battery substance producing applications. The worldwide market size of cobalt is anticipated to extend at a CAGR of 8.25% amid the gauge time frame (2018-2023). The standpoint towards the cobalt business is certain however supply variances may get a few headwinds. A lack for the metal is very prominent later on as interest is probably going to develop at a better than expected rate throughout the following quite a long while. Far-reaching application in large scale divisions, for example, gadgets, and car makes cobalt a looked for after industrial material.
Global Cobalt Market is classified on the basis of its form, application, and regional demand. Based on its form, the Global Cobalt Market is segmented into metal, chemical compound, and purchased scrap. On the basis of its application, the Global Cobalt Market is bifurcated into superalloy, battery chemicals, ceramic & pigments, magnets, hard metals, binder material, and life science.
Geographically, the Global Cobalt Market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Sherritt International Corporation, Sumitomo Corporation, Freeport Cobalt, Vale, and BHP, Glencore, Umicore, Huayou Cobalt Co. Ltd., Eramet, Votorantim Metals SA, Jinchuan Group International Resources Co. Ltd, among others, are some of the major players in the Global Cobalt Market.
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