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Allied Market Research

Cobalt Alloy Powder Market by product (CoCr Alloy Powder, CoCrMo Alloy Powder, CoCrNi Alloy Powder, and Others), and Application (Additive Manufacturing and 3D Printing, Brazing, Metal Injection Melding, Plasma and thermal spray applications, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12118
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Sep 2021 | 91 Views
   
Author(s) : Eswara Prasad
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Cobalt Alloy Powder Market Analysis 2021-2028

Cobalt is a hard, grey metal that is commonly found in the Earth's crust in conjunction with nickel. Due to its unusual qualities, such as maintaining strength at high temperatures, having a high melting point (1493°C), strong thermo-stability, being ferromagnetic, and being multivalent, cobalt has a wide range of industrial applications. Cobalt's characteristics make it a good choice for improving catalytic activity. Cobalt is extensively used for producing various alloys that are utilized as wear resistant and high-temperature components, cutting tools, dies, and saws, among other things, due to its superior chemical, physical, and mechanical qualities. Another often-used metal alloy powder is cobalt alloy powder, which is largely made up of cobalt and chromium with minor amounts of molybdenum, nickel, iron, carbon, manganese, and silicone. Magnetic characteristics, corrosion resistance, wear resistance, and high temperature strength are all advantages of cobalt alloys.

Market Scope and Structure Analysis

Report Metric

Details

 Base Year Considered

 2020

 Forecast Period

 2021–2030

 Forecast Unit

 Value (USD)

 Segments Covered

 Product, Application, and Region

 Regions Covered

 North America, Europe, Asia-Pacific, and LAMEA

 Companies Covered

Arcam, CarTech, VDM Metals, Kulzer, EOS, SLM, Dentaurum, 3DMT, AMC Powders, ACME

 

COVID-19 Impact analysis

COVID-19 has had a wide range of consequences, including a ban on all indoor/outdoor events, flight cancellations, travel bans, and restaurant closures; a state of emergency has been declared in over forty countries; a massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about the future. Because of the COVID-19 epidemic, consumer behavior has shifted across the board. On the other hand, industries would have to rearrange their strategy to keep up with shifting market demands.

Top Impacting Factors

In the coming years, the increased demand for cobalt powder in the automotive and electronic industries will have a favorable impact on the market. As a result, the Asia-Pacific market for cobalt powder is expected to grow at the quickest rate in the next six years, based on the use of electronics. The primary cause for development is the rising demand for electronic batteries in developing countries like China and India. Powdered cobalt alloy is utilized in a variety of applications. In additive manufacturing and powder metallurgy, a significant amount of cobalt alloy powder is employed. Cobalt alloy powder is used in the production of a variety of components. Several powder metallurgy techniques are used in this process. In brazing processes, cobalt alloy powder is also employed as a filler material. As a result, one of the primary drivers for the cobalt alloy powder market is the adaptability of powdered cobalt alloy.

Market Trends

  • In the diamond business, cobalt powder is utilized as a bonding agent, and it is employed as a binder in the manufacturing of cemented tungsten carbides for high-speed cutting tools. Cobalt is increasingly employed in end-user sectors such as electronic batteries, automotive tires, and other industries around the world because of all of these applications.
  • Factors such as surge in demand for additive manufacturing are also driving the industry. Rapid prototyping and 3D printing are other important market drivers for cobalt alloy powder. In powder metallurgy, cobalt alloy powder is also a popular metal powder.
  • Since the previous few years, several African, South American, and Middle Eastern countries have experienced economic and industrial expansion, which will have a beneficial impact on the usage of cobalt powder in many industries. As they recover from economic dispersion, the U.S. and countries in the European region will use cobalt powder extensively.
  • All of these causes would increase the global consumption of cobalt powder. In light of this outlook, the automotive, battery, and other cobalt-related industries are likely to grow rapidly in the future years.
  • Individuals' discretionary cash and the growing usage of portable electronics would create a huge demand for cobalt powder. As a result, the demand for cobalt powder in the automotive and electronic industries is expected to skyrocket in the coming years.
  • Cobalt powder is one of the most important raw materials for cemented carbide, and demand is growing both at home and abroad. There are three development trends of cobalt powder for cemented carbide with the development of the cemented carbide industry: ultrafine cobalt powder, Nano WC-Co powder, and spherical cobalt powder. As a result, the quality of the raw material cobalt powder is becoming increasingly important.
  • Arcam, CarTech, VDM Metals, Kulzer, EOS, SLM, Dentaurum, 3DMT, AMC Powders, ACME are some of the major players in the market.

Key Segments Covered

Segment

Sub-segment

 Product

 

  • CoCr Alloy Powder
  • CoCrMo Alloy Powder
  • CoCrNi Alloy Powder
  • Others

 Application

  • Coatings & Adhesives
  • Wires & Cables
  • Hoses & Tubes
  • Others

 Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe

 

  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

 

Key Benefits of the Report

  • This study presents the analytical depiction of the cobalt alloy powder market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the cobalt alloy powder market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the cobalt alloy powder market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed cobalt alloy powder market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions Answered in the Cobalt Alloy Powder Report

  • Who are the leading market players active in the cobalt alloy powder market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
  • What is cobalt alloy powder?
  • What does cobalt alloy powder allow organizations to achieve?
  • Which technologies combine to make cobalt alloy powder critical organizational asset?
  • What are the current trends and predicted trends?
 
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