Technavio Announces Top Six Vendors in the Global Cobalt Market Outlook

March 10, 2016

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LONDON–(BUSINESS WIRE)–Technavio has announced the top six leading vendors in their recent Global Cobalt Market Outlook 2015-2019. This research report also lists 19 prominent vendors that are expected to impact the market during the forecast period.

Competitive vendor landscape

The global cobalt market is expected to witness significant growth during the forecast period primarily due to the increased use of cobalt in the manufacturing of batteries and superalloys.

The global cobalt market is highly fragmented with small and large vendors operating in a highly competitive market. The market is dominated by large global vendors who have a vast geographical presence with production facilities located worldwide.

“The supply of Cobalt is expected to gain some momentum as a result of the increased production capacities of the key players such as Mirabela Nickel in Brazil, Tenke Fungurume Mining in the DRC, African Rainbow Minerals in South Africa, Meta Nickel Cobalt in Turkey, and Moa Bay in Cuba, among others,” says Chandrakumar Badala Jaganathan, lead research analyst at Technavio for metals and minerals.

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Freeport-McMoRan

Freeport-McMoRan was incorporated in 1987 and is headquartered in Phoenix, Arizona, US. It is a natural resource company that engages in the acquisition of mineral assets, oil and natural gas resources.

It has seven operating copper mines in North America, including Morenci, Safford, Sierrita, Bagdad, and Miami in Arizona, and Tyrone and Chino in New Mexico, US.

Freeport-McMoRan operates globally, carrying out business operations related to open-pit mining, sulfide-ore concentrating, leaching and solvent extraction, and electrowinning.

Glencore Xstrata

Glencore was founded in 1974 and is headquartered in Baar, Switzerland. The company is a vertically integrated commodity producer, processor, and trader. It caters to industries, such as automotive, industrial, construction, power generation, steel, oil, and food processing. It trades and produces over 90 commodities derived from natural resources.

The company has diversified operations comprising more than 150 mining and metallurgical, agricultural, and oil production assets. Its marketing and industrial activities are supported by a network of over 90 offices located in more than 50 countries worldwide.

Huayou Cobalt

Huayou Cobalt was founded in 2002 and is headquartered in Zhejiang, China. The company focuses on the nonferrous smelting of cobalt, copper, and nickel, and cobalt new materials processing. The products are used for Li-ion battery cathode material, frits and glazes, cemented and high-temperature carbide, rubber adhesives, and petrochemical catalysts.

The company is focusing on the cobalt new materials industry, which is supported by copper and nickel products and created on self-owned overseas mineral resources. The main products of the company are cobalt tetroxide, cobalt monoxide cobalt carbonate, cobalt hydroxide, cobalt oxide, cobalt oxalate, and cobalt sulfate.

Nippon Steel & Sumitomo Metal

Nippon Steel & Sumitomo Metal was founded in 1950 and is headquartered in Tokyo, Japan. It is primarily engaged in the manufacturing and fabrication of steel.

The company mainly caters to the Japanese market which accounts for 59% of the revenue. Asia and ROW account for the remaining 27% and 14% of the revenue respectively. In November 2014, the company signed a contract with Brunei Shell Petroleum and the Government of Brunei Darussalam to supply OCTG (oil country tubular goods) pipes. In December 2014, the company announced the development of new mining areas in the Bulga Coal Mine in Australia.

Sherritt International

Sherritt International was incorporated in 1927 and is headquartered in Toronto, Canada. The company is engaged in the mining and refining of nickel from lateritic ores in Cuba, Canada, and Madagascar.

The company is engaged in metal production. It undertakes 50% of its business through two joint ventures: Moa Joint Venture and Ambatovy Joint Venture. These joint ventures with companies in Cuba and Korea respectively involve integrated nickel and cobalt mining, refining, and marketing,

Ambatovy has an annual capacity of 60,000 tons of nickel and 5,600 tons of cobalt.

Umicore

Umicore, founded in 1989, is headquartered in Brussels, Belgium. It is a materials technology and recycling company that offers catalyst formulations and systems, building products, zinc chemicals, and rechargeable battery materials to a wide variety of industries worldwide.

Umicore Cobalt & Specialty Materials produces a range of cobalt- and nickel-based chemicals for a broad range of applications. Its products are used for the production of pigments for ceramics, rubber tires, and plastic production, and nickel chemicals for surface treatment. It also offers a range of recycling services, such as the recovery of cobalt from products in the petrochemical and hard metals sectors.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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