The global cobalt alloy powder market size was valued at $259.1 million in 2020, and cobalt alloy powder market forecast projected to reach $490.9 million by 2030, with global cobalt alloy powder market forecast expected at a CAGR of 6.7% from 2021 to 2030.
Cobalt alloy powder is a type mixture of two or more metals to provide wide variety of high quality coated materials to improve the development of various products. It is widely used in the coating industry and also as a feedstock in the additive manufacturing. In addition to this it is also used in the form of powder or as bars in the plasma & thermal spray applications. It is also coated for the hoses and pipes in oil refineries and thermal power plants to resist sulfur attack against the materials. These properties and applications will drive the demand for cobalt alloy powder market.
The increase in the border disputes and terrorist activities across the world led to the development of unmanned weapons, aircrafts, unmanned drones and smart missiles, which use cobalt alloy powder coated materials in the military industry is also driving the demand of cobalt alloy powder market.
The hardness and the biocompatibility nature of these cobalt alloy powder treated materials led to the usage in the production of medical implants. According to the Agency of Healthcare Research and Quality more than 959,000 annual primary and revision of hip procedures have took place in 2019. The increase in road and industrial accidents across the globe will play a major role in the development of the cobalt alloy powder market in the medical sector.
The cost of the cobalt alloy powder in 2020 is around $120-$200 per kilogram. The uneven distribution of resources and the increasing demand for cobalt is the basic reason for the increase in cost price. The health hazards due to the exposure of Cobalt alloy powder during the mining and production. In addition to this the environmental affects brought due to the eutrophication and global warming during the mining and refining is a major drawback that is hampering the growth of the cobalt alloy powder market.
Increase in the awareness among the manufacturer to reduce the wastage of raw materials led to the innovation and practical applications of 3D printing. The additive manufacturing is widely used in the industrial applications and the development of diesel vehicles such as cars, aircrafts, and military transport vehicles are major factors driving the growth of cobalt alloy powder. The increasing investments in the industrial infrastructure will provide ample opportunities for the growth of the cobalt alloy powder market.
The global cobalt alloy powder market is segmented on the basis of product, application and region.
On the basis of product, the global cobalt alloy powder market is segmented into Co-Cr alloy powder, Co-Cr-Mo alloy powder, Co-Cr-Ni alloy powder, and others. The application introduced in the study includes additive manufacturing & 3D printing, brazing, metal injection molding, plasma and thermal spray applications, and others.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific.
The major companies profiled in this report include Eramet, Freeport Cobalt Americas LLC, Minara Resources Pty Ltd., Mitsui, Norilsk Nickel, Sandvik Materials Technology, Shepherd Chemical Company, Sherritt International, Sumitomo Corporation, and Umicore-Cobalt & Specialty Materials. Due to rapidly increasing demand for coatings and application of additive manufacturing in the industrial manufacturing led the key manufacturers expand their production capacities in order to meet market demand across the globe. Additional growth strategies such as mergers, acquisition, and business expansion strategies, are also adopted to attain key developments in the cobalt alloy powder market trends.
2. Freeport Cobalt Americas LLC
3. Minara Resources Pty Ltd.
4. Mitsui
5. Norilsk Nickel
6. Sandvik Materials Technology
7. Shepherd chemical company
8. Sherritt International
9. Sumitomo Corporation
10. Umicore-Cobalt & Specialty Materials
Cobalt alloy powder is a type mixture of two or more metals to provide wide variety of high quality coated materials to improve the development of various products. It is widely used in the coating industry and also as a feedstock in the additive manufacturing. In addition to this it is also used in the form of powder or as bars in the plasma & thermal spray applications. It is also coated for the hoses and pipes in oil refineries and thermal power plants to resist sulfur attack against the materials. These properties and applications will drive the demand for cobalt alloy powder market.
The increase in the border disputes and terrorist activities across the world led to the development of unmanned weapons, aircrafts, unmanned drones and smart missiles, which use cobalt alloy powder coated materials in the military industry is also driving the demand of cobalt alloy powder market.
The hardness and the biocompatibility nature of these cobalt alloy powder treated materials led to the usage in the production of medical implants. According to the Agency of Healthcare Research and Quality more than 959,000 annual primary and revision of hip procedures have took place in 2019. The increase in road and industrial accidents across the globe will play a major role in the development of the cobalt alloy powder market in the medical sector.
The cost of the cobalt alloy powder in 2020 is around $120-$200 per kilogram. The uneven distribution of resources and the increasing demand for cobalt is the basic reason for the increase in cost price. The health hazards due to the exposure of Cobalt alloy powder during the mining and production. In addition to this the environmental affects brought due to the eutrophication and global warming during the mining and refining is a major drawback that is hampering the growth of the cobalt alloy powder market.
Increase in the awareness among the manufacturer to reduce the wastage of raw materials led to the innovation and practical applications of 3D printing. The additive manufacturing is widely used in the industrial applications and the development of diesel vehicles such as cars, aircrafts, and military transport vehicles are major factors driving the growth of cobalt alloy powder. The increasing investments in the industrial infrastructure will provide ample opportunities for the growth of the cobalt alloy powder market.
The global cobalt alloy powder market is segmented on the basis of product, application and region.
On the basis of product, the global cobalt alloy powder market is segmented into Co-Cr alloy powder, Co-Cr-Mo alloy powder, Co-Cr-Ni alloy powder, and others. The application introduced in the study includes additive manufacturing & 3D printing, brazing, metal injection molding, plasma and thermal spray applications, and others.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific.
The major companies profiled in this report include Eramet, Freeport Cobalt Americas LLC, Minara Resources Pty Ltd., Mitsui, Norilsk Nickel, Sandvik Materials Technology, Shepherd Chemical Company, Sherritt International, Sumitomo Corporation, and Umicore-Cobalt & Specialty Materials. Due to rapidly increasing demand for coatings and application of additive manufacturing in the industrial manufacturing led the key manufacturers expand their production capacities in order to meet market demand across the globe. Additional growth strategies such as mergers, acquisition, and business expansion strategies, are also adopted to attain key developments in the cobalt alloy powder market trends.
KEY MARKET SEGMENTS
By Product
- Co-Cr Alloy Powder
- CO-Cr-Mo Alloy Powder
- Co-Cr-Ni Alloy Powder
- Others
By Application
- Additive manufacturing and 3D printing
- Brazing
- Metal Injection Molding
- Plasma and Thermal spray application
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Players in the global cobalt alloy powder market are:
1. Eramet2. Freeport Cobalt Americas LLC
3. Minara Resources Pty Ltd.
4. Mitsui
5. Norilsk Nickel
6. Sandvik Materials Technology
7. Shepherd chemical company
8. Sherritt International
9. Sumitomo Corporation
10. Umicore-Cobalt & Specialty Materials
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: COBALT ALLOY POWDER MARKET, BY PRODUCT
CHAPTER 5: COBALT ALLOY POWDER MARKET, BY APPLICATION
CHAPTER 6: COBALT ALLOY POWDER MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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