Report Update: Apr 5, 2024

World - Cobalt - Market Analysis, Forecast, Size, Trends And Insights

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Cobalt Refining Process

Cobalt refining is the process of extracting purified cobalt metal from its raw ore. Cobalt, a hard, lustrous, and silver-gray metal, is primarily obtained as a byproduct of copper and nickel mining. It is an essential element for many industrial applications, particularly in the manufacturing of lithium-ion batteries, aerospace alloys, and superalloys.

The cobalt refining process involves several stages, including mining, ore crushing, roasting, leaching, purification, and finally, the production of commercial-grade cobalt metal. Each stage of the process is designed to remove impurities and concentrate the cobalt for further processing.

Mining

The first step in cobalt refining is mining. Cobalt ores are typically extracted from underground mines, where the cobalt-rich ores are blasted and excavated. The extracted ore is then transported to the surface for further processing.

Ore Crushing

Once the cobalt ore reaches the surface, it is crushed into small pieces to facilitate later processing. Crushing the ore helps to expose the valuable cobalt minerals and increase the surface area for further chemical reactions to occur.

Roasting

After crushing, the cobalt ore undergoes a roasting process. Roasting involves heating the ore in a controlled environment to drive off volatile compounds and convert the metal sulfides into oxides. The roasting process helps to eliminate sulfur and other impurities, making the ore more suitable for leaching.

Leaching

The roasted ore is then subjected to leaching, where it is mixed with chemicals or acidic solutions to dissolve the cobalt and other valuable metals. This step allows for the separation of cobalt from other impurities. The resulting solution, known as the leachate, contains dissolved cobalt compounds.

Purification

The leachate is further processed through various purification techniques to remove impurities such as iron, copper, and nickel. These impurities are selectively precipitated or filtered out, leaving behind a purified cobalt solution.

Production of Commercial-Grade Cobalt Metal

The final stage of cobalt refining involves converting the purified solution into solid cobalt metal. This is typically achieved through a combination of chemical and electrochemical processes such as precipitation, solvent extraction, and electrolysis. The resulting cobalt metal is then further processed into various forms, including powders, ingots, and alloys, depending on the desired application.

Overall, cobalt refining is a complex and multi-stage process that requires careful control and optimization to ensure the production of high-quality cobalt metal. The growing demand for cobalt, particularly in emerging industries such as electric vehicles and renewable energy, has driven the development of advanced refining technologies to enhance efficiency and sustainability.

This report provides an in-depth analysis of the global cobalt market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

Global market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Global production, split by region and country
Global trade (exports and imports)
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Company coverage:

Glencore Plc, Vale S.A., Gécamines S.A., Lundin Mining Corp., Sibanye-Stillwater, Jervois Mining Ltd., Umicore N.V./S.A., Plansee Group, PJSC MMC Norilsk Nickel (Nornickel), Sherritt International Corp., BHP Billiton Plc, First Quantum Minerals Ltd., Jinchuan Group Co. Ltd., Shenzhen GEM HighTech Co. Ltd., Huayou Cobalt Co., CMOC Group Limited, Groupe Forrest International and Gécamines, Shalina Resources Ltd., Metorex Group, Fleurette Group

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023