Market Overview:
The global cobalt-base alloys market is expected to register a CAGR of 5.8% during the forecast period, 2018-2030. The market growth can be attributed to the increasing demand for cobalt-base alloys from various end-use industries, such as hardfacing, mechanical industry and marine industry. In addition, the growing demand for cobalt-based wear resistant alloy and cobalt-based high temperature alloy is also contributing to the growth of the global cobalt base alloys market. Based on type, the global Cobalt Base Alloys Market has been segmented into Cobalt based Wear Resistant Alloy, Cobalt based High Temperature Alloy and Cobolt based Antiwear Solution Corrosion Alloy. The wear resistant alloy segment is projected to account for a major share of the global market in terms of revenue during 2018 – 2030 owing to its properties such as resistance against abrasion and corrosion. On basis application Hardfacing dominates with highest share in Global Market while Marine Industry will grow at highest rate over next 10 years .
Product Definition:
Cobalt-base alloys are a class of alloys that contain cobalt as the primary alloying element. They are used in a wide variety of applications, including medical implants, jet engines, and nuclear reactors. The high strength and corrosion resistance of cobalt-base alloys makes them ideal for use in these applications.
Cobalt-based Wear Resistant Alloy:
Cobalt-based wear resistant alloys are a group of materials containing cobalt and other metals such as nickel, iron, chromium, titanium and zirconium. These materials have high resistance to abrasion owing to the presence of hard Co-B alloy phases. The most commonly used metal in this category is cobalt but it can also be found in various combinations with the above named metals.
Cobalt-based High Temperature Alloy:
Cobalt-based high temperature alloys are a group of materials based on the cobalt-iron relationship and have properties such as high tensile strength, good corrosion resistance, and excellent wear resistance. These alloys contain various amounts of nickel, chromium, copper & zinc along with small proportions of other metals.
Application Insights:
The mechanical industry was the largest application segment in 2017 and is expected to witness a CAGR of XX% from 2018 to 2030. The growth can be attributed to increasing automotive production across the globe coupled with rising product demand for manufacturing high-performance wear resistant alloys used in hardfacing applications.
Cobalt is an essential element for hardfacing applications as it provides hardness, strength and wear resistance at low cost compared with other metals or alloy systems. It also has excellent corrosion resistance which makes it suitable for use in protective coatings against aggressive environments including air, moisture and heat that are applied during the manufacturing process of various industrial components such as shafts, gears & pinions, bearings etc.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The presence of key manufacturers such as Nippon Steel & Sumitomo Metal Corporation, (NSSMC) and Tenaris S.A., headquartered in Asia Pacific countries such as Japan and Switzerland respectively, has resulted in high product availability across this region. In addition, rising demand for automobiles across emerging economies including China and India is likely to propel industry growth over the next eight years.
North America emerged as the second-largest regional market accounting for a share of more than 20% owing to growing automotive production mainly influenced by vehicle emissions regulations implemented by Environment Protection Agency (EPA). Moreover, increasing use of cobalt-based alloys due to their excellent characteristics such as anti-corrosion properties are projected favorably affect industry growth over this region during the forecast period.
Growth Factors:
- Increasing demand from the aerospace and defense sectors due to their high strength-to-weight ratio and corrosion resistance properties.
- Growing demand for cobalt-base alloys in medical implants and prostheses owing to their biocompatibility properties.
- Rising popularity of cobalt-base alloys in energy sector due to their superior heat resistance properties.
- Increasing use of cobalt-base alloys in electric vehicles as they are non-toxic and have a low melting point which helps in easy manufacturing process of these vehicles parts
Scope Of The Report
Report Attributes
Report Details
Report Title
Cobalt-base Alloys Market Research Report
By Type
Cobalt-based Wear Resistant Alloy, Cobalt-based High Temperature Alloy, Cobalt-based Anti-wear and Aqueous Solution Corrosion Alloy
By Application
Hardfacing, Mechanical Industry, Marine Industry
By Companies
Samancor Chrome, Erdos Group, Nikopol Ferroalloy Plant, Glencore, Eurasian Resources Group, Tsingshan Holding Group, Nikopol Ferroalloy Plant, Azovstal Iron and Steel Works, ArcelorMittal Kryvyi Rih, Zaporizhstal, Outokumpu, Central Iron & Steel Research Institute, Rongpinkeji
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
173
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Cobalt-base Alloys Market Report Segments:
The global Cobalt-base Alloys market is segmented on the basis of:
Types
Cobalt-based Wear Resistant Alloy, Cobalt-based High Temperature Alloy, Cobalt-based Anti-wear and Aqueous Solution Corrosion Alloy
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hardfacing, Mechanical Industry, Marine Industry
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Samancor Chrome
- Erdos Group
- Nikopol Ferroalloy Plant
- Glencore
- Eurasian Resources Group
- Tsingshan Holding Group
- Nikopol Ferroalloy Plant
- Azovstal Iron and Steel Works
- ArcelorMittal Kryvyi Rih
- Zaporizhstal
- Outokumpu
- Central Iron & Steel Research Institute
- Rongpinkeji
Highlights of The Cobalt-base Alloys Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cobalt-based Wear Resistant Alloy
- Cobalt-based High Temperature Alloy
- Cobalt-based Anti-wear and Aqueous Solution Corrosion Alloy
- By Application:
- Hardfacing
- Mechanical Industry
- Marine Industry
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cobalt-base Alloys Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Cobalt-base alloys are a type of alloy that is made up of cobalt and other metals. These alloys are often used in products that need to be resistant to corrosion, such as pipes and tanks.
Some of the major companies in the cobalt-base alloys market are Samancor Chrome, Erdos Group, Nikopol Ferroalloy Plant, Glencore, Eurasian Resources Group, Tsingshan Holding Group, Nikopol Ferroalloy Plant, Azovstal Iron and Steel Works, ArcelorMittal Kryvyi Rih, Zaporizhstal, Outokumpu, Central Iron & Steel Research Institute, Rongpinkeji.
The cobalt-base alloys market is expected to grow at a compound annual growth rate of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cobalt-base Alloys Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Cobalt-base Alloys Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Cobalt-base Alloys Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Cobalt-base Alloys Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Cobalt-base Alloys Market Size & Forecast, 2018-2028 4.5.1 Cobalt-base Alloys Market Size and Y-o-Y Growth 4.5.2 Cobalt-base Alloys Market Absolute $ Opportunity
Chapter 5 Global Cobalt-base Alloys Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Cobalt-base Alloys Market Size Forecast by Type
5.2.1 Cobalt-based Wear Resistant Alloy
5.2.2 Cobalt-based High Temperature Alloy
5.2.3 Cobalt-based Anti-wear and Aqueous Solution Corrosion Alloy
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Cobalt-base Alloys Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Cobalt-base Alloys Market Size Forecast by Applications
6.2.1 Hardfacing
6.2.2 Mechanical Industry
6.2.3 Marine Industry
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cobalt-base Alloys Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cobalt-base Alloys Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Cobalt-base Alloys Analysis and Forecast
9.1 Introduction
9.2 North America Cobalt-base Alloys Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Cobalt-base Alloys Market Size Forecast by Type
9.6.1 Cobalt-based Wear Resistant Alloy
9.6.2 Cobalt-based High Temperature Alloy
9.6.3 Cobalt-based Anti-wear and Aqueous Solution Corrosion Alloy
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Cobalt-base Alloys Market Size Forecast by Applications
9.10.1 Hardfacing
9.10.2 Mechanical Industry
9.10.3 Marine Industry
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Cobalt-base Alloys Analysis and Forecast
10.1 Introduction
10.2 Europe Cobalt-base Alloys Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Cobalt-base Alloys Market Size Forecast by Type
10.6.1 Cobalt-based Wear Resistant Alloy
10.6.2 Cobalt-based High Temperature Alloy
10.6.3 Cobalt-based Anti-wear and Aqueous Solution Corrosion Alloy
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Cobalt-base Alloys Market Size Forecast by Applications
10.10.1 Hardfacing
10.10.2 Mechanical Industry
10.10.3 Marine Industry
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Cobalt-base Alloys Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Cobalt-base Alloys Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Cobalt-base Alloys Market Size Forecast by Type
11.6.1 Cobalt-based Wear Resistant Alloy
11.6.2 Cobalt-based High Temperature Alloy
11.6.3 Cobalt-based Anti-wear and Aqueous Solution Corrosion Alloy
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Cobalt-base Alloys Market Size Forecast by Applications
11.10.1 Hardfacing
11.10.2 Mechanical Industry
11.10.3 Marine Industry
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Cobalt-base Alloys Analysis and Forecast
12.1 Introduction
12.2 Latin America Cobalt-base Alloys Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Cobalt-base Alloys Market Size Forecast by Type
12.6.1 Cobalt-based Wear Resistant Alloy
12.6.2 Cobalt-based High Temperature Alloy
12.6.3 Cobalt-based Anti-wear and Aqueous Solution Corrosion Alloy
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Cobalt-base Alloys Market Size Forecast by Applications
12.10.1 Hardfacing
12.10.2 Mechanical Industry
12.10.3 Marine Industry
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Cobalt-base Alloys Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Cobalt-base Alloys Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Cobalt-base Alloys Market Size Forecast by Type
13.6.1 Cobalt-based Wear Resistant Alloy
13.6.2 Cobalt-based High Temperature Alloy
13.6.3 Cobalt-based Anti-wear and Aqueous Solution Corrosion Alloy
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Cobalt-base Alloys Market Size Forecast by Applications
13.10.1 Hardfacing
13.10.2 Mechanical Industry
13.10.3 Marine Industry
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cobalt-base Alloys Market: Competitive Dashboard
14.2 Global Cobalt-base Alloys Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Samancor Chrome
14.3.2 Erdos Group
14.3.3 Nikopol Ferroalloy Plant
14.3.4 Glencore
14.3.5 Eurasian Resources Group
14.3.6 Tsingshan Holding Group
14.3.7 Nikopol Ferroalloy Plant
14.3.8 Azovstal Iron and Steel Works
14.3.9 ArcelorMittal Kryvyi Rih
14.3.10 Zaporizhstal
14.3.11 Outokumpu
14.3.12 Central Iron & Steel Research Institute
14.3.13 Rongpinkeji