Cobalt Procurement Research ÔÇô Market Trends and Spend Analysis by SpendEdge

LONDON–(BUSINESS WIRE)–#chemicalsindustry—SpendEdge,
a global procurement intelligence advisory firm, has announced the
release of their ÔÇÿCobalt
Market Procurement Research Report.ÔÇÖ The insights and data in
this report provide a strategic analysis of the supply markets, factors
influencing purchasing decisions, procurement best practices, pricing
models, supplier landscape, and an analysis of the supplier capability
matrix for the chemicals
industry. This report breaks down the data and analysis behind
the procurement of cobalt and acts as an all-inclusive guide for making
smart purchasing decisions.

ÔÇ£The increasing adoption of cobalt to manufacture rechargeable
batteries and superalloys and the growth of end-user industries will
drive the growth of cobalt market,ÔÇØ says SpendEdge procurement analyst
Anil Seth. ÔÇ£Also, APAC is considered as the largest market with China
showcasing a promising growth,ÔÇØ added Anil.

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Procurement analysts at SpendEdge highlight the following top three
market trends that are contributing to the growth of the Global Cobalt
Market:

• Emergence of primary cobalt mining
• Increasing number of strategic partnerships
• Growing use of cobalt in pollution control applications

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the report snapshot before purchasing

Emergence of primary cobalt mining

In the cobalt market, the suppliers are looking for new sources of
cobalt, such as primary cobalt to adequately cater to the buyer-specific
requirements. This helps the buyers gain easy availability of cobalt due
to extraction.

Increasing number of strategic partnerships

Globally the suppliers are increasingly engaging in strategic
partnerships to enhance their existing product and service portfolios.
This enables the suppliers to achieve economies of scale, thereby
increasing the cost-effectiveness of the product.

Growing use of cobalt in pollution control applications

In the recent years, cobalt has been extensively used in the
desulfurization process, to further remove sulfur from natural gas. The
increase in demand will help the suppliers increase profitability,
thereby investing more on technological innovations.

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our report snapshot to gain detailed insights into the current
market trends.

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About SpendEdge

SpendEdge shares your passion for driving sourcing and procurement
excellence. We are a preferred procurement market intelligence partner
for Fortune 500 firms and other leading companies across numerous
industries. Our strength lies in delivering robust, real-time
procurement market intelligence that helps sourcing and procurement
professionals make informed decisions. These innovative procurement
solutions help enterprises transform structural capabilities, improve
execution efficiency, and fast-track time to savings.

Contacts

SpendEdge
Anirban Choudhury
Marketing Consultant
US: +1
630 984 7340
[email protected]