Global Cobalt Market 2015-2019
Cobalt is a chemical element obtained in combination with other elements in minerals such as skutterudite (a cobalt-nickel arsenide), carrollite (a copper-cobalt-(nickel) sulfide), and asbolane (a nickel-cobalt-manganese oxide). Cobalt is obtained from three main ore deposits: sediment-hosted stratiform copper deposits, magmatic nickel sulfide deposits, and nickel laterite deposits. It is generally processed as a byproduct of processed nickel and copper ores. Cobalt and its alloys find application in numerous industries such as battery chemicals, superalloys, defense, and catalysts.
Technavio's analysts forecast the global cobalt market to grow at a CAGR of 9.19% over the period 2014-2019.
Covered in this report
The global cobalt market can be segmented into six based on application: battery chemicals, superalloys, hard metals, catalysts, ceramics/pigments, and others.
Technavio's report, Global Cobalt Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, Europe, North America, and ROW; it also covers the global cobalt market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Cobalt Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Cobalt Market: Freeport-McMoran Copper and Gold, Glencore Xstrata, Huayou Cobalt, Nippon Steel and Sumitomo Metal, Sherritt International and Umicore
Other Prominent Vendors in the market are: Ambatovy, BHP Billiton, Chambishi Metals, Eramet, Formation Metals, Gécamines, GEM, Jiangsu Cobalt Nickel Metal, Katanga Mining, Minara, Mopani Copper, Norilsk, OMG, Open Joint Stock Company Mining and Metallurgical Company Norilsk Nickel, QNPL, Rubamin, Vale, Votorantim Metais, and Zhejiang Huayou Cobalt.
Commenting on the report, an analyst from Technavio’s team said: “The market is expected to witness certain key trends that will increase the growth of the market. One such trend is the rise in capacity expansions and mining projects. Potential mining projects that could produce supplementary cobalt raw materials are underway.”
According to the report, the boom in reusable energy storage systems is one of the major drivers contributing to the growth of the global cobalt market. Flourishing demand for rechargeable batteries in electronic devices, such as mobile phones, laptops, computers, tablets, and portable devices, is driving demand for cobalt in the market.
Further, the report states that one of the major challenges is the dominance of the DRC and Zambia, which don't have adequate support technologies or complementary assets, such as sophisticated ports and road transportation.
Freeport-McMoran Copper and Gold, Glencore Xstrata, Huayou Cobalt, Nippon Steel and Sumitomo Metal, Sherritt International, Umicore, Ambatovy, BHP Billiton, Chambishi Metals, Eramet, Formation Metals, Gécamines, GEM, Jiangsu Cobalt Nickel Metal, Katanga Mining, Minara, Mopani Copper, Norilsk, OMG, Open Joint Stock Company Mining and Metallurgical Company Norilsk Nickel, QNPL, Rubamin, Vale, Votorantim Metais, Zhejiang Huayou Cobalt.
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