Cobalt Market Size in USD: A Comprehensive Forecast for 2024-30

Market Overview: Cobalt Market

MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on Cobalt Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

Cobalt Market Insights 2024-30

The Cobalt Market is estimated to grow at a CAGR of around 6.2% during the forecast period 2024-30.

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Driving Innovation: Exploring the Cobalt Market and its Key Drivers

Global Cobalt Market Driver: 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.

Top Players in the Cobalt Market:

Glencore Plc., Missouri Cobalt, Jinchuan Group International Ltd., CMOC Group, Eurasian Resources Group, Huayou Cobalt, Sumitomo Cobalt Mining, Cobalt Blue Holdings, Panoramic Resources Ltd., Sherritt International, Nornickel, Nickel 28 Capital Corp., Groupe Managem, Carter Alloy Company, Others

Cobalt Industry Recent Development:

2022: Glencore Plc, announced a strategic partnership with Li-Cycle Holdings Corp. a lithium-ion battery recycler in North America to recycle battery raw material to produce battery-grade end products.

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Segmentation Analysis of Cobalt Market

Cobalt Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.

By Application

-Battery Chemicals

-Super Alloys

-Catalyst

-Ceramics & Pigments

-Binder Materials

Battery Chemicals segment is leading the Global Cobalt Market.

By Form

-Chemical Compound

-Metal

-Purchased Scrap

By End User

-Electronics

-Aerospace

-Automotive

-Chemical

-Pharmaceutical

-Others (Oil & Gas)

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A Comprehensive Geographical Analysis:

By Region

-North America

-South America

-Europe

-The Middle East & Africa

-Asia-Pacific

Asia-Pacific holds a significant market share in the Global Cobalt Market and is expected to dominate the market in the forecast period as well.

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

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

Being one of the most efficient market research companies in India, our specialized team of experienced & efficient market research professionals is capable of grasping every minute and valuable information & data of the market to offer our clients with satisfactory details. Our company has served the biggest market research firms in India at leading positions and is proficient in managing all types of market research projects.

About Us

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 15 diverse industrial verticals.