Cobalt Market Trends by Countries, Type and Application, Top Manufacturers 2029

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The battery industry will become increasingly crucial for cobalt consumption as electric vehicle sales are expected to climb by 30% annually. Since its inception in December 2021, cobalt futures have gained a lot of traction, with an open interest notional value of around $100 million at t

Cobalt Market demand in 2021 of 115.53 Kilo tons and the Cobalt market is grow at CAGR 9%, and it is expected to reach 230.21 Kilo tons by 2029.

Cobalt Market Overview

The report covers the Cobalt Market most recent revenue and market trends. It provides a market overview, definition, and structure, as well as preventative and pre-planned management. The report focuses on the factors that influence the Cobalt Market, such as gross margin, cost, market share, capacity utilization, and supply. It also aids in determining the future potential of the Cobalt Market in the next few years during the forecast period. The report provides a market overview through common subjects that are highlighted with unique data based on the need. The overview aids in making decisions about how to approach the market and comprehending the industry's backdrop.

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Market Scope

The report focuses on the major key drivers and restraints for key companies, as well as the current competitive benchmarking and development prospects. The report provides current Cobalt market trends and future insights in terms of demand, supply chain, and sales, as well as recent changes in the market. Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price, and Gross Margin Sales by Product are all included in this Cobalt market research report. For the competitive analysis, the report includes the profile of the key market players in the Cobalt market including company overview, financial performance, product portfolio, and strategies. SWOT and PESTLE analysis were used for the research that combines quantitative and qualitative research methods.

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Cobalt is metal that is used as a raw material for manufacturing Lithium-ion batteries, Cutting tools, magnetic materials, petrochemical catalysts etc. 98 % of cobalt is a by-product of nickel. In 2021 the cobalt world trade was US $ 4.83 Bn in that top exporter is Democratic Republic of Congo holding the market of US $ 1.91 Bn and Top Importer were China (the US $ 2.13 Bn). The ranking of Cobalt in the Product Complexity Index is 875th. The cobalt industry has been criticized for the high societal cost of upstream extraction, particularly in the Democratic Republic of Congo. In 2021, the DRC is estimated to contribute around 69 % of mined cobalt.

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Key Players

• Glencore plc (Switzerland)
• Umicore (Belgium)
• Vale S.A. (Brazil)
• Jinchuan Group Internation Resources Co. Ltd. (Hong Kong)
• Huayou cobalt Co Ltd (China)
• Freeport cobalt (Finland)
• Sherrit International Corporation (Canada)
• BHP (Australia)
• Eramet (France)
• Votorantim Metals SA (Brazil)
• Sumitomo Corporation (Japan)
• CMOC International
• Missouri Cobalt, LLC
• China Molybdenum Co., Ltd.
• Norilsk Nickel
• GEM Co., Ltd.
• Yantai Cash Industrial Co Ltd.
• Horizonte Minerals
• Jervois Mining

Regional Analysis

Cobalt Region dominated the Cobalt Market in 2021 and is expected to witness significant growth during the forecast period. Government initiatives in the sector and regulations and rein in rising expenses drive the Cobalt Market growth in the region. The Cobalt market report includes a geographic condition of the market, and revenue as well as in-depth research into the business network structure, opportunities, and news updates.

Key Questions answered in the Cobalt Market Report are:

  • What is Cobalt Market?
  • What is the forecast period of the Cobalt Market?
  • What is the competitive scenario of the Cobalt market?
  • Which region held the largest market share in the Cobalt Market?
  • What are the opportunities for the Cobalt Market?
  • What factors are affecting the Cobalt market growth?
  • Who are the key players of the Cobalt market?
  • Which company held the largest share in the Cobalt market?
  • What will be the CAGR of the Cobalt market during the forecast period?
  • What key trends are likely to emerge in the Cobalt market in the coming years?

Key offerings:

  • Market Share, Size, and Forecast by Revenue|2022-2029
  • Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
  • Market Segmentation: A detailed analysis by Cobalt
  • Landscape- Leading key players and other prominent key players.

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