COBALT MARKET GROWTH 2020-2025 | INDUSTRY PRICE TRENDS, SIZE, SHARE, REPORT AND FORECAST

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The new report by Expert Market Research titled, ‘Global Cobalt Market Size, Share, Price, Trends Report and Forecast 2020-2025′, gives an in-depth analysis of the global cobalt market, assessing the market based on its segments like applications and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Get a Free Sample Report with Table of Contents –https://www.expertmarketresearch.com/reports/cobalt-market/requestsample

The key highlights of the report include:

Market Overview (2015-2025)

  • Historical Market Size (2019): 115.54 kilo tons.
  • Forecast CAGR (2020-2025): 9%
  • Forecast Market Size (2025): 193.77 kilo tons

Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/cobalt-market

Industry Definition and Major Segments

Cobalt is a chemical element with the atomic number 27. It is represented by the symbol Co. It occurs naturally in the Earth’s crust in a chemically combined form. As a free element, it appears as a hard, lustrous, bluish-gray metal. It is primarily obtained by reducing the cobalt by-products obtained from nickel and copper mining and their smelting.

On the basis of application, the industry is divided into:

  • Batteries
  • Alloys
  • Tool Materials
  • Catalysts
  • Pigments
  • Magnets
  • Soaps
  • Others

Among these, batteries account for the majority of the market share.

The regional markets for cobalt include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The growing demand for electric vehicles, where cobalt-based batteries are used, is expected to aid the market growth over the forecast period. The growing concern regarding the environment is driving this trend. The governments across the nations are promoting the use of electric vehicles to curb vehicular emissions and reduce the carbon footprint on the environment. The incentives offered by the governments mainly take the form of purchase rebates, tax exemptions, or tax credits, among others. For instance, in Italy, electric vehicles are exempt from various taxes, including the annual circulation or ownership tax for the first five years starting from their registration. Afterward, they are provided a 75% reduction on the tax rate in comparison to gasoline-powered vehicles. Other regions like Norway has envisioned a national goal where all new car sales should be zero-emission vehicles (electric or hydrogen) by 2025. This is expected to boost the industry growth over the next five years.

Key Market Players

The major players in the market are Glencore plc (LON: GLEN), Vale S.A. (BVMF: VALE3), Umicore (EBR: UMI), Missouri Cobalt, LLC, and CMOC International, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally

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