Market Overview:
The global cobalt ores and concentrates market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market was valued at US$ 2,362.8 Mn in 2017 and is projected to reach US$ 3,711.4 Mn by 2030. Cobalt ores are extracted from natural sources such as copper-cobalt deposits, nickel-cobalt deposits and other primary cobalt mineral sources such as skutterudite and erythrite whereas cobalt concentrates are produced as a result of processing these ores into a form that can be used in various industries such as automotive, consumer electronics etc. The growth of the global cobalt ores and concentrates market is primarily driven by the increasing demand for electric vehicles (EVs) across the globe.
Product Definition:
Cobalt ores and concentrates are rocks or minerals from which cobalt can be economically extracted. Cobalt has a variety of applications, including in batteries, alloys, and pigments.
Cobalt Ores:
Cobalt is a chemical element that is found in the mineral group of metals. It has six different forms namely, cobalt metal, cobalt oxide, coberonate CoBH3 and six different isotopes namely; Cobalt-60, Cobalt-62, Cobalucent (CoBL), Nickel-63 (NI 63), Nickel-64 (Ni 64) and Iron -65.
Cobalt Concentrates:
Cobalt (III) concentrates are chemical compounds of cobalt with different oxidation states. The most common oxidation state for III Cobalt is 9, which is also known as ferric hydroxide or iron(III) oxide. It has a bright blue color and turns to dust when it is powdered; this dust can cause lung irritation if inhaled.
Application Insights:
Automotive was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The growing automotive sector across the globe is anticipated to be a key factor driving demand for cobalt over the coming years. Rapidly expanding electric vehicle (EV) sector across various regions, including North America and Europe, is projected to propel market growth over the coming years.
The consumer electronics segment accounted for 10% of global cobalt ore production in 2017 and is expected to witness significant growth owing to rising use of smartphones which require lithium-ion batteries as their power source comes from batteries that are made using this metal. In addition, increasing demand for rechargeable battery products such as power banks will drive consumption further contributing towards industry growth during 2018-2030 period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of manufacturers, which makes it an attractive destination for ores and concentrates. In addition, China is one of the largest consumers of cobalt on account of rising demand from domestic manufacturers along with increasing automobile production in India and Japan.
North America emerged as the second-largest consumer due to high automotive manufacturing output coupled with growing electric vehicle production in Canada and Mexico. Europe also contributed significantly to market growth owing to high demand from key countries such as Germany, France, Italy, Spain among others.
Growth Factors:
- Increasing demand from the battery and automotive industries: The global cobalt ore and concentrates market is expected to grow at a CAGR of 5.5% from 2017 to 2025, owing to the increasing demand for cobalt from the battery and automotive industries.
- Growing popularity of electric vehicles: The growth in electric vehicle sales is expected to drive the demand for cobalt ore and concentrates in the coming years.
- Rising investment in renewable energy sources: Governments across the globe are investing heavily in renewable energy sources such as solar and wind power, which is expected to increase the demand for cobalt ore and concentrates over the forecast period.
- Limited supply of cobalt ores: Cobalt ores are becoming increasingly rare, which is driving up their prices, thus boostingthe market for cobalt ore and concentrates products worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Cobalt Ores and Concentrates Market Research Report
By Type
Cobalt Ores, Cobalt Concentrates
By Application
Automotive, Consumer Electronic, Others
By Companies
Glencore, Molybdenum, Erg, Sherritt, Huayou, Umicore, Jinchuan Group, Zijin Mining Group, Chengtun Mining Group, Nanjing Hanrui Cobalt, Beijing Hezong Science
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
179
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Cobalt Ores and Concentrates Market Report Segments:
The global Cobalt Ores and Concentrates market is segmented on the basis of:
Types
Cobalt Ores, Cobalt Concentrates
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
Automotive, Consumer Electronic, 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:
- Glencore
- Molybdenum
- Erg
- Sherritt
- Huayou
- Umicore
- Jinchuan Group
- Zijin Mining Group
- Chengtun Mining Group
- Nanjing Hanrui Cobalt
- Beijing Hezong Science
Highlights of The Cobalt Ores and Concentrates 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 Ores
- Cobalt Concentrates
- By Application:
- Automotive
- Consumer Electronic
- 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 Ores and Concentrates 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
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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 ores and concentrates are a by-product of the mining process. Cobalt is a metal that is used in many different products, including batteries, aircraft parts, and medical devices.
Some of the major companies in the cobalt ores and concentrates market are Glencore, Molybdenum, Erg, Sherritt, Huayou, Umicore, Jinchuan Group, Zijin Mining Group, Chengtun Mining Group, Nanjing Hanrui Cobalt, Beijing Hezong Science.
The cobalt ores and concentrates 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 Ores and Concentrates 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 Ores and Concentrates Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cobalt Ores and Concentrates 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 Ores and Concentrates 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 Ores and Concentrates Market Size & Forecast, 2020-2028
4.5.1 Cobalt Ores and Concentrates Market Size and Y-o-Y Growth
4.5.2 Cobalt Ores and Concentrates Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Cobalt Ores
5.2.2 Cobalt Concentrates
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Automotive
6.2.2 Consumer Electronic
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cobalt Ores and Concentrates 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 Ores and Concentrates 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Cobalt Ores
9.6.2 Cobalt Concentrates
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 Market Size Forecast by Applications
9.10.1 Automotive
9.10.2 Consumer Electronic
9.10.3 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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Cobalt Ores
10.6.2 Cobalt Concentrates
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 Market Size Forecast by Applications
10.10.1 Automotive
10.10.2 Consumer Electronic
10.10.3 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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Cobalt Ores
11.6.2 Cobalt Concentrates
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 Market Size Forecast by Applications
11.10.1 Automotive
11.10.2 Consumer Electronic
11.10.3 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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Cobalt Ores
12.6.2 Cobalt Concentrates
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 Market Size Forecast by Applications
12.10.1 Automotive
12.10.2 Consumer Electronic
12.10.3 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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Cobalt Ores
13.6.2 Cobalt Concentrates
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) Market Size Forecast by Applications
13.10.1 Automotive
13.10.2 Consumer Electronic
13.10.3 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 Ores and Concentrates Market: Competitive Dashboard
14.2 Global Cobalt Ores and Concentrates Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Glencore
14.3.2 Molybdenum
14.3.3 Erg
14.3.4 Sherritt
14.3.5 Huayou
14.3.6 Umicore
14.3.7 Jinchuan Group
14.3.8 Zijin Mining Group
14.3.9 Chengtun Mining Group
14.3.10 Nanjing Hanrui Cobalt
14.3.11 Beijing Hezong Science
