NEW YORK, Dec. 16, 2021 /PRNewswire/ -- The cobalt market has been segmented by application and geography. Based on application, the market is segmented into batteries and electronics, super alloys, pigments, hard materials, and others. Similarly, based on geography, the market is segmented into APAC, North America, Europe, South America, and MEA.
The market share growth of the batteries and electronics application segment will be significant during the forecast period. The advantages of lithium-ion batteries over other battery chemistries are fueling the growth of the batteries and electronics market segment. Lithium-ion batteries increase thermal stability and safety. They also offer a high current density and a longer lifespan. The presence of nanoscale phosphate cathode materials enhances their performance and shelf life.
Read our Sample Report for more insights into the contribution of each segment of the cobalt market
The cobalt market is set to grow by 76337.13 MT. The growth momentum of the market is expected to accelerate at a CAGR of 9.36% from 2020 to 2025. The year-over-year growth rate of the market in 2021 is 8.52%. The report offers a thorough analysis of the current market scenario, the latest trends and drivers, and the overall market environment.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To leverage the current opportunities, market vendors should strengthen their position in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report also covers the following areas:
Cobalt Market 2021-2025: Vendor Analysis and Scope
To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market. Some of the major vendors of the cobalt market include Ambatovy, China Molybdenum Co. Ltd., Eramet Group, European Cobalt Ltd., First Cobalt Corp., Jervois Global Ltd., Missouri Cobalt LLC, Red Rock Resources plc, Sherritt International Corp., and Sumitomo Metal Mining Co. Ltd. Backed with competitive intelligence and benchmarking, our research report on the cobalt market has been designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
The growth of the electric vehicle industry, increasing demand for super alloys in the aerospace industry, and augmented demand from the consumer electronics market due to enhanced consumer spending will offer immense growth opportunities. However, factors such as the harmful effects of super alloys may challenge the market growth.
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Cobalt Market 2021-2025: Key Highlights
Related Reports:
Cobalt Market Scope |
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Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.36% |
Market growth 2021-2025 |
76337.13 MT |
Market structure |
Fragmented |
YoY growth (%) |
8.52 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 69% |
Key consumer countries |
China, US, Japan, Russian Federation, and India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Ambatovy, China Molybdenum Co. Ltd., Eramet Group, European Cobalt Ltd., First Cobalt Corp., Jervois Global Ltd., Missouri Cobalt LLC, Red Rock Resources plc, Sherritt International Corp., and Sumitomo Metal Mining Co. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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