Global Cobalt Market is estimated to grow with a stable CAGR of 10.47% in the forecast period of 2019-2026. The report contains data from the historic year of 2017, and the base year of 2018. Increase in the lithium- ion battery is the major factor for the growth of this market.
Cobalt is a chemical element which is found on the earth as an alloy and is extracted by mining. It is a hard and brittle metallic element which resembles nickel and iron and can be magnetised. They usually have high temperature. They are used to produce string, corrosion and heat resistant alloys, permanent magnets and hard metals.
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Global cobalt market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cobalt market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the cobalt market are China Molybdenum Co., Ltd., Glencore, Norilsk Nickel, Sheritt International Corporation, Vale, SUMITOMO METAL MINING CO LTD., Jinchuan Group Co Ltd., Yantai Cash Industrial Co Ltd., and GEM CO., LTD.
Market Segmentation: Global Cobalt Market
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Key Insights in the report:
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