Cobalt Market Scope, Size, Share, Growth Opportunities and Future Strategies 2030: Markntel Advisors

Exploring the Cobalt Market: Insights, Key Drivers, and Major Players

Introduction to the Cobalt Market

Cobalt is a hard ferromagnetic, silver-white, hard, lustrous, brittle element obtained from the mining of nickel and copper ores. It has wide applications in the production of electric vehicles, aircraft engines, catalysts, ceramics, and pigments. 

Cobalt Key market insights include:

Market Size and Growth: The Global Cobalt Market size is estimated to grow at a CAGR of around 6.2% during the forecast period, i.e., 2024-30.

Regional Analysis: North America, South America, Europe, Asia-Pacific, Middle East & Africa.

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What is driving the growth of the global Cobalt Market market?

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.

Market Segmentation

The Cobalt Market can be segmented based on several criteria, including:

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)

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Key Players in the Cobalt Market

The Cobalt Market is highly competitive, with several key players dominating the landscape. These companies are investing heavily in research and development to stay ahead of the competition and meet the evolving needs of their customers. Some of the prominent players in the Cobalt Market include:

• Glencore Plc.
• Missouri Cobalt
• Jinchuan Group International Ltd.
• CMOC Group
• Eurasian Resources Group
• Huayou Cobalt
• Sumitomo Cobalt Mining
• Cobalt Blue Holdings
• Panoramic Resources Ltd.
• Others

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Questions Addressed in this Study

1.What factors are driving the Cobalt Market growth?

2.How is the Cobalt Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Cobalt Market?

4.What is the current size of the Cobalt Market, and how is it projected to change in the future?

6.What is the future outlook for the Cobalt Market in terms of technological advancements and market expansion?

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Why choose MarkNtel?

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.

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