Market Overview:
The global cobalt metal market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for cobalt from various applications, such as magnetic materials, battery material, alloy and others. In terms of type, electrolytic cobalt segment is expected to hold a major share in the global cobalt metal market during the forecast period. This can be attributed to its growing demand from various end-use industries, such as automotive and electronics.
Product Definition:
A hard, silver-white metal that is a common component of alloys. It is also found in compounds such as cobalt blue. Cobalt is used to make magnets, coins, and surgical implants.
Electrolytic Cobalt:
Electrolytic cobalt is a chemical element that is obtained as a by-product of copper and nickel mining. It has 6 different isotopes, with the most common one being CoB2. The other ones are CoB,CoBe2,CoBe3,CoBi4 and CoBi5. Electrolytic cobalt has an atomic number of 66 and a valence electron count of 10; it's also called(VEC) or(VE).
Cobalt Powder:
Cobalt powder is a form of metal oxide. It has high thermal and electrical conductivity, which makes it useful in various applications including catalyst, magnet material, and optical material. The major application of cobalt powder is as a catalyst in the production of superalloys for use in shipbuilding industries.
Application Insights:
Magnetic materials application segment accounted for the largest share of over 50.0% in 2017 and is projected to witness significant growth over the forecast period. The rising demand for magnetic materials in various applications including motors and hard disk drives is expected to drive market growth over the coming years.
The battery material application segment was valued at USD 281.5 million in 2017 and is also anticipated to witness considerable growth on account of increasing utilization of lithium-ion batteries across various end-use industries such as consumer electronics, automotive, energy storage, etc. Increasing investments by major players such as Samsung Electronics Co., Ltd., Panasonic Corporation, Lenovo Group Ltd., Huawei Technologies Co., Ltd., vivo KIYA Technology CO LTD & others are expected to propel industry expansion over the coming years.
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 battery manufacturers such as Panasonic, LG Chem, Samsung SDI, and others have resulted in high product demand from portable electronics and electric vehicles industry. In addition, rising disposable income coupled with growing consumer awareness regarding energy conservation has resulted in increased consumption of batteries which will further drive the regional market growth.
North America is projected to witness significant growth over the next eight years owing to increasing investments by major players for research & development activities pertaining to electrochemical properties of cobalt metal along with other metals such as nickel and copper. Furthermore, growing use of these metals for producing lithium-ion batteries will augment their demand leading to a rise in production facilities that would subsequently drive regional market growth during the forecast period.
Growth Factors:
- Increasing demand from the battery and automotive industries: The global cobalt market is expected to grow at a CAGR of 6.5% from 2017 to 2025, owing to the increasing demand for cobalt from the battery and automotive industries.
- Growing demand for rechargeable batteries: The increasing use of portable electronic devices such as laptops, smartphones, and tablets is driving the growth of the rechargeable battery market, which in turn is fueling the growth of the cobalt market.
- Rising investment in renewable energy sources: Governments across the globe are investing heavily in renewable energy sources such as solar and wind power due to their environmental benefits over traditional energy sources such as coal-fired power plants. This is resulting in an increase in demand for cobalt used in wind turbines and solar panels.
- Limited supply of cobalt ore: Cobalt ore is a scarce resource and its supply dwindles with each passing year owing to growing industrialization across developing countries such as China and India . This has resulted in an increase in prices of cobalt metal over recent years, thereby providing impetus to its market growth .
Scope Of The Report
Report Attributes
Report Details
Report Title
Cobalt Metal Market Research Report
By Type
Electrolytic Cobalt, Cobalt Powder, Cobalt Salt
By Application
Magnetic Materials, Battery Material, Alloy, Others
By Companies
China Molybdenum, Hanrui Cobalt, Huayou Cobalt, GEM, Shandong Jinling Mining, Pengxin, Glencore, ERG Africa, Wanbao Mining, Chemaf, Umicore
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
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Cobalt Metal Market Report Segments:
The global Cobalt Metal market is segmented on the basis of:
Types
Electrolytic Cobalt, Cobalt Powder, Cobalt Salt
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
Magnetic Materials, Battery Material, Alloy, Others
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:
- China Molybdenum
- Hanrui Cobalt
- Huayou Cobalt
- GEM
- Shandong Jinling Mining
- Pengxin
- Glencore
- ERG Africa
- Wanbao Mining
- Chemaf
- Umicore
Highlights of The Cobalt Metal 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:
- Electrolytic Cobalt
- Cobalt Powder
- Cobalt Salt
- By Application:
- Magnetic Materials
- Battery Material
- Alloy
- Others
- 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 Metal 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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 is a metal that is often used in industrial applications. It has a high melting point and low reactivity, which makes it ideal for use in products that require high temperatures or resistance to corrosion.
Some of the key players operating in the cobalt metal market are China Molybdenum, Hanrui Cobalt, Huayou Cobalt, GEM, Shandong Jinling Mining, Pengxin, Glencore, ERG Africa, Wanbao Mining, Chemaf, Umicore.
The cobalt metal market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cobalt Metal 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 Metal Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cobalt Metal 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 Metal 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 Metal Market Size & Forecast, 2018-2028
4.5.1 Cobalt Metal Market Size and Y-o-Y Growth
4.5.2 Cobalt Metal Market Absolute $ Opportunity
Chapter 5 Global Cobalt Metal 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 Metal Market Size Forecast by Type
5.2.1 Electrolytic Cobalt
5.2.2 Cobalt Powder
5.2.3 Cobalt Salt
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Cobalt Metal 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 Metal Market Size Forecast by Applications
6.2.1 Magnetic Materials
6.2.2 Battery Material
6.2.3 Alloy
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cobalt Metal 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 Metal 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 Metal Analysis and Forecast
9.1 Introduction
9.2 North America Cobalt Metal 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 Metal Market Size Forecast by Type
9.6.1 Electrolytic Cobalt
9.6.2 Cobalt Powder
9.6.3 Cobalt Salt
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 Metal Market Size Forecast by Applications
9.10.1 Magnetic Materials
9.10.2 Battery Material
9.10.3 Alloy
9.10.4 Others
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 Metal Analysis and Forecast
10.1 Introduction
10.2 Europe Cobalt Metal 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 Metal Market Size Forecast by Type
10.6.1 Electrolytic Cobalt
10.6.2 Cobalt Powder
10.6.3 Cobalt Salt
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 Metal Market Size Forecast by Applications
10.10.1 Magnetic Materials
10.10.2 Battery Material
10.10.3 Alloy
10.10.4 Others
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 Metal Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Cobalt Metal 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 Metal Market Size Forecast by Type
11.6.1 Electrolytic Cobalt
11.6.2 Cobalt Powder
11.6.3 Cobalt Salt
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 Metal Market Size Forecast by Applications
11.10.1 Magnetic Materials
11.10.2 Battery Material
11.10.3 Alloy
11.10.4 Others
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 Metal Analysis and Forecast
12.1 Introduction
12.2 Latin America Cobalt Metal 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 Metal Market Size Forecast by Type
12.6.1 Electrolytic Cobalt
12.6.2 Cobalt Powder
12.6.3 Cobalt Salt
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 Metal Market Size Forecast by Applications
12.10.1 Magnetic Materials
12.10.2 Battery Material
12.10.3 Alloy
12.10.4 Others
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 Metal Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Cobalt Metal 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 Metal Market Size Forecast by Type
13.6.1 Electrolytic Cobalt
13.6.2 Cobalt Powder
13.6.3 Cobalt Salt
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 Metal Market Size Forecast by Applications
13.10.1 Magnetic Materials
13.10.2 Battery Material
13.10.3 Alloy
13.10.4 Others
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 Metal Market: Competitive Dashboard
14.2 Global Cobalt Metal Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 China Molybdenum
14.3.2 Hanrui Cobalt
14.3.3 Huayou Cobalt
14.3.4 GEM
14.3.5 Shandong Jinling Mining
14.3.6 Pengxin
14.3.7 Glencore
14.3.8 ERG Africa
14.3.9 Wanbao Mining
14.3.10 Chemaf
14.3.11 Umicore
