Pune, India -- (SBWIRE) -- 03/20/2019 -- The Cobalt Market's segment market shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates. Each segment represented visually with supporting reasons to justify the growth rates. IGR's report also covers drivers and restraints in the cobalt market.

Infinium Global Research's report covers the annual growth of the Global cobalt market. It also includes chapters on the Global cobalt industry trends, geographic analysis, and competitive landscape.

Enquire here Get Customization & Check Discount for Report @ https://www.infiniumglobalresearch.com/reports/request-discount/3530

The top key players included in the cobalt market report are Glencore, Fleurette Group, Vale S.A., Gecamines, China Molybdenum Co., Ltd., Jinchuan Nonferrous Metals Corp., Eurasian Resources Group, Huayou Cobalt Co., Ltd., Jiangsu Cobalt Nickel Metal Co., Shenzhen Green Eco-manufacture Hi-tech Co., Ltd., and Sumitomo Metal Mining Co.

The report also includes a SWOT analysis to present the indicators of strength, weakness, prospects, and risk of the market until the completion of the projection period in 2024.

Cobalt Market: Industrial Insight

Cobalt is metallic gray-colored solid materials with high melting and boiling points that allow it to retain its strength at high temperatures. Cobalt is typically found in the earth as an alloy. Cobalt has the highest Curie point of all metals as well as it has valuable catalytic properties. It has high-temperature resistance, high efficiency, hardness, and many other physical properties so it is vastly used in the several industrial and biological applications.

Cobalt Market: Market Insight

The growing use of rechargeable batteries in the electronics and automotive applications are driving the growth of the cobalt market worldwide. Cobalt is one of an important part of the battery technologies. The growing use of lithium-ion batteries in the Portable devices, E-mobility, Renewable energy power stations and electrical grid is driving the growth of the cobalt market. In addition, the cobalt and its compounds are dynamically used in the manufacturing of modern-day electronics such as rechargeable batteries, integrated circuits, and semiconductors. Thus, this is anticipated to escalate the growth of cobalt market in upcoming years.

Furthermore, the high use of cobalt in biomedical applications is contributing to the growth of the cobalt market. Moreover, the cobalt increases the chip performance and its ability to work at a higher density enables its applications in the new and innovative artificial intelligence field in upcoming years.

More Insights on this Report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/reports/enquiry/3530

Cobalt Market: Segmentation

The report of global cobalt market id segmented into application, and end user. In terms of applications, the market is further categorized as alloys, batteries, catalysts, pigments and coloring, radioisotopes, and other uses. Cobalt is used as a catalyst as it lowers the activation energy of a chemical reaction. It mainly used as a catalyst in the desulphurization reactions. In the refining of natural gas and petroleum products desulphurization reactions is used to remove the sulfur contained in petroleum products. Cobalt as a catalyst plays a significant role in the formation of the production of terephthalic acid (TPA) and di-methyl terephthalate (DMT). Increasing demand for cobalt as a catalyst in the chemical industry is likely to escalate the growth cobalt market.

By end users, the market is divided into, oil& gas, chemical, automotive, pharmaceuticals, aerospace & defense, healthcare, electronics, construction, and transportation. Among these end users, automotive and electronics holds a significant market share. The growing demand of cobalt metal to make light and durable batteries for electronics and automotive applications are expected to fuel the growth of the cobalt market over the forecast period.

Cobalt Market: Regional Insight

Geographically, Asia Pacific is the largest and the fastest growing region in the cobalt market. It is expected to be the dominating region over the forecast period. The high consumption of cobalt for industrial application is the major factor that drives the growth of Asia Pacific cobalt market. In addition, growing awareness about the biomedical application of cobalt is contributing to the growth of the cobalt market in this region. Furthermore, North America and Europe are also holding a considerable share in this market.

Cobalt Market: Competitive Landscape

The key companies in global cobalt market include Glencore, Fleurette Group, Vale S.A., Gecamines, China Molybdenum Co., Ltd., Jinchuan Nonferrous Metals Corp., Eurasian Resources Group, Huayou Cobalt Co., Ltd., Jiangsu Cobalt Nickel Metal Co., Shenzhen Green Eco-manufacture Hi-tech Co., Ltd., and Sumitomo Metal Mining Co. and among others. In March 2019, Canada's Explorex Resources announced that it wants to buy New Tech Minerals' Buena Vista Hills cobalt – iron oxide and copper-gold project in Nevada. According to the Explorex, this acquisition is expected to be a unique opportunity and setting for a large scale near surface cobalt target.

Read Detailed Index of Full Research Study@ https://www.infiniumglobalresearch.com/chemical-material/global-cobalt-market