Global Cobalt Market to Reach 69 Thousand Metric Tons by 2012 According to New Report by Global Industry Analysts Inc.



The global market structure for cobalt has changed drastically over the past few years. New end-use applications and large number of cobalt producers have emerged in the market, along with the continuous rise in the price of the commodity. Cobalt is now being manufactured separately, unlike the previous years, where the product was the result of various by-product operations. Further, demand for the product is rising rapidly which is in turn leading to a steep rise in the prices of the commodity across the globe.

Worldwide, cobalt market is witnessing a shift towards nickel-based production from copper-based production. On the consumption front, majority of consumers are increasingly opting inferior quality cobalt, rather than primary cobalt, owing to high variation in prices. On the other hand, not withstanding the price factor, the demand for cobalt in specialized applications is on a rise over low value applications, where the option of other substitute materials is not viable.

Europe represents the largest market for cobalt (http://www.strategyr.com/Cobalt_Market_Report.asp) with an estimated 19.4 thousand metric tons for 2008. Asia-Pacific represents the fastest growing market, reflecting a CAGR of 9% for the period 2008-2012. The market is projected to reach 22.5 thousand metric tons by 2012, as stated by Global Industry Analysts, Inc. Batteries (http://www.strategyr.com/Cobalt_Market_Report.asp) depict the fastest growing end-use market for cobalt and is projected to expand at a CAGR of over 7.7% in during the analysis period, 2000-2010. Super Alloys (http://www.strategyr.com/Cobalt_Market_Report.asp) are projected to be the largest end-use market for cobalt and projected to reach 12.6 thousand metric tons by the year 2012.

Key players dominating the global cobalt market include Caledonia Mining Corporation, Chambishi Metals Plc, Compagnie de Tifnout Tighanimine, Eramet SA, Eurotungstene Poudres SA, Freeport-McMoRan Copper 's38; Gold Inc., H. C. Starck GmbH 's38; Co., KG, Minara Resources Limited, MMC Norilsk Nickel Group, Nanjing Hanrui Cobalt Co. Ltd., OM Group Inc., Osram Sylvania, QNI Pty Ltd., Sherritt International Corporation, Sumitomo Metal Mining Co., Ltd., Umicore, Vale Inco, Xstrata Plc, and Zambia Consolidated Copper Mines.

The report titled Cobalt: A Global Strategic Business Report published by Global Industry Analysts, Inc., provides a review of end-use applications, production and pricing scenario, and recent industry activity. The study also analyzes market data and analytics in volume sales for major geographic regions including the US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World by the following end-use segments - Adhesives and Dryers, Batteries, Catalysts, Cemented Carbides, Hard-Facing 's38; Other Alloys, Magnets, Super Alloys, Specialty Chemicals, Pigments, and Others.

For more details about this research report, please visit http://www.strategyr.com/Cobalt_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) (http://www.StrategyR.com/) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world'ss largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

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Global Cobalt Market to Reach 69 Thousand Metric Tons by 2012 According to New Report by Global Industry Analysts Inc.