Cobalt Powder Market - Global Industry Analysis 2015 - 2023
Cobalt is a hard, grey metal and is generally found in association
with nickel in the Earth's crust. Cobalt has many industrial uses due
to its unique properties such as retaining its strength at a high
temperature, high melting point (1493°C), high thermo-stability,
being ferromagnetic, and being multivalent. All these properties of
cobalt make it effective for enhancing catalytic action. As cobalt
possess excellent chemical, physical, and mechanical properties, it
is commonly used for fabricating various alloys which are used as
wear resistant and high-temperature components, cutting tools, dies,
saws, etc. Cobalt is an important ingredient for portable batteries.
The growing demand for rechargeable batteries in mobile phones,
laptop, tablets, and other portable electronics would be the major
growth driver for global cobalt consumption.
Cobalt has a wide range of industrial uses which varies from
rechargeable batteries to aircraft engines. Furthermore cobalt is
used for industrial chemical processes due to its catalytic
properties and is used for the removal of nitrous oxide,
desulphurisation of hydrocarbons and others. The typical properties
of such as hardness and high temperature resistance of cobalt is used
effectively to alloy with other metals.
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Cobalt alloys is suitable in turbine blades for gas jet aircraft
engines and turbines. Various cobalt compounds are used as catalyst
in chemical reactions. Furthermore, cobalt’s chemical and physical
properties make it an essential ingredient for electroplating,
coloring of pigments and ceramics, manufacture of automobile tires
and permanent magnets. Cobalt powder is used as bonding tools in
diamond industry and for high speed cutting tools it is used as
binder for the production of cemented tungsten carbides. Owing to all
such applications of cobalt, is growingly used in end-user industries
such as electronic batteries, automotive tires, and other industries
across the globe.
The growing demand of automotive and electronic industry would have
positive impact on cobalt powder market in years to come. Therefore,
based on the uses of electronics, Asia Pacific is projected to be the
fastest growing market for cobalt powder in the next six years. The
main reason for this is the growing demand of electronics batteries
from developing countries such as China and India. However, some
countries of Africa, South America and the Middle East have shown
economic and industrial growth since the last few years which would
have a positive impact on the use of cobalt powder in various
industries.
The U.S. and countries of European region is would have major
application of cobalt powder as they are recovering from the economic
dispersion. All such factors would enhance the uses of cobalt powder
across the globe. Considering this prospect automotive, batteries and
other cobalt application related industries are expected to witness a
strong growth in the coming years. Furthermore, the disposable income
of individuals and increasing uses of portable electronics would have
a tremendous market potential for cobalt powder. Due to this, the
demand for cobalt powder in the automotive and electronic industry is
anticipated to grow at an outstanding rate in the next few years.
Some of the major companies operating in the global cobalt powder
market are Sandvik Materials Technology, Umicore - Cobalt &
Specialty Materials, Freeport Cobalt Oy, Sherritt International,
Sumitomo Corporation, Minara Resources Pty Ltd., Eramet and Norilsk
Nickel.
This research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
North America
Asia Pacific
Europe
Middle East and Africa
Latin America
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the Full “Cobalt Powder Market - Global Industry Analysis, Size,
Share, Trends and Forecast 2015 – 2023”Report at :
This
report provides comprehensive analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for upcoming years
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