Glencore Plc, Sherritt International, Vale S.A. and Gecamines S.A. are some of the key players operating in the global Cobalt market whose company profiling is done in the report. In this segment of the report, business overview, financial overview and the business strategies of the companies are provided.
Research By Markets adds "Global Cobalt Market: Size, Trends & Forecasts (2017-2021)" to its online repository. This report provides analysis of the Global Cobalt Market, with detailed analysis of market size in terms of production, demand and segments.
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The report also includes a detailed regional analysis of the Cobalt market in regions such as Democratic Republic of Congo, Australia and Canada, comprising of its Cobalt market by production. Under competitive landscape different players in the global Cobalt market have been compared on basis of their market share.
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Cobalt is a hard metallic element found in the Earth's crust only in chemically combined form. Bulk of the cobalt around the world is found as a by product of nickel and cobalt extraction processes consisting of mining and processing ore into concentrate or a semi refined product.
It possesses some crucial features such as remarkable energy density, high melting point, etc. Properties like these make Cobalt an ideal element for use in various industrial applications such as aerospace, automotive, electronics and even in the medical domain.
The Cobalt market can be divided on the basis of its use in various end markets such as battery chemicals, super alloys, hard metals, ceramics, catalyst, wear products and rubber additives. The global Cobalt market is expected to increase at high growth rates during the forecast period (2017-2021).
The global Cobalt market is supported by various factors such as rise in Lithium ion battery production, superior energy density and spike in production of electric vehicles.
However, evolving battery chemicals and substitution materials are some of the challenges faced by the market. Emerging methods of Cobalt recovery, upsurge in Cobalt development projects, rise in Cobalt prices and increasing use of Cobalt in consumer electronics are some of the latest trends existing in the market.
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