Global Cobalt Market to Benefit from Rising Demand for Rechargeable Batteries

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Cobalt Market - Global Industry
Analysis, Size, Share, Growth, Trends
and Forecast 2013 - 2019
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REPORT DESCRIPTION
Transparency Market Research Reports incorporated a definite business overview and investigation inclines on “Cobalt Market
- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019” This report likewise incorporates
more illumination about fundamental review of the business including definitions, requisitions and worldwide business sector
industry structure.
A new report from Transparency Market Research, titled ‘Cobalt Market - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2013 - 2019,’ states that the global market is expected to expand swiftly during the period between 2013 and
2019 due to the increasing demand for rechargeable batteries and technical advancements.
Cobalt is one of the metals found in the earth’s crust. Primarily, cobalt is found in the form of compounds and is virtually never
encountered as a free element. It is used in human enterprises as a compound and not as a free element. Cobalt as a compound
finds application in numerous sectors. Some of the primary application segments of cobalt are super alloys, reusable energy
storage systems, wear-resistant alloys, orthopedics, life science, magnets, and binder materials. At present, the reusable energy
storage application segment dominates the global cobalt market and it is expected to maintain its dominance in the years to
come.
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The changing dynamics of the global auto industry, where lightweight electronic cars are considered to be the perfect solution
to climate change issues, are responsible for the rising demand for rechargeable batteries from the global cobalt market. The
rising aviation industry is also expected to assist the growth of the global cobalt market in the near future due to the increasing
use of cobalt alloys in the airplane engines.
The global cobalt market is expected to register rapid growth in the years to come due to the growing demand for rechargeable
batteries, in which cobalt is an important component. However, the global cobalt market is expected to be hampered by the
inconsistency in supply due to lack of innovative infrastructure in the Demographic Republic of the Congo, a leading exporter of
cobalt. Political instability is also expected to hamper the growth of the global cobalt market in the years to come. The demandsupply gap created is expected to cause a rise in cobalt prices in the near future. This is also expected to affect the growth of
the global cobalt market.
The global cobalt market is segmented on the basis of application and region. Canada, Australia, China, the U.S., and
Zambia are some of the leading regions producing the majority of cobalt. By region, the global cobalt market is dominated by
North America and Asia Pacific collectively due to the growth of the aviation and automotive industries in the U.S. and China,
respectively.
The global cobalt market is highly competitive with leading players covering different areas across various geographies. Some of
the leading companies operating in the global cobalt market are Huayou Cobalt, Jinchuan, Freeport-McMoran Copper and Gold,
Glencore Xstrate plc, and Umicore.
Browse the full Research report at : http://www.transparencymarketresearch.com/cobalt-market.html
Major applications of cobalt:
•
Reusable energy storage systems
•
Super alloys
•
Wear-resistant alloys
•
Thermal spray coatings
•
Magnets
•
Orthopedics
•
Binder materials
•
Life sciences
Major geographies analyzed under this research report are:
•
Europe
•
North America
•
Asia-Pacific
•
Rest of the World
This report gives you access to decisive data such as:
•
Market growth drivers
•
Factors limiting market growth
•
Current market trends
•
Market structure
•
Market projections for the coming years
Key highlights of this report
•
Overview of key market forces propelling and restraining market growth
•
Up-to-date analyses of market trends and technological improvements
•
Pin-point analyses of market competition dynamics to offer you a competitive edge
•
An analysis of strategies of major competitors
•
An array of graphics and SWOT analysis of major industry segments
•
Detailed analyses of industry trends
•
A well-defined technological growth map with an impact-analysis
•
Offers a clear understanding of the competitive landscape and key product segments
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Cobalt market is mainly driven by increased demand of chemicals used in the rechargeable and recyclable batteries. Another driving factor for the cobalt market is the use of super alloys in light weight vehicles as alloys reduce the weight of the vehicle, thereby improving efficiency.This research report analyzes this market depending on its market segments, major geographies, and current market trends.