- Key Cobalt Producing Countries Include Democratic Republic of the Congo, China & Canada
TechNavio, the independent London-based global research firm, today announced the publication of its research report on the Global Cobalt Market. The report finds the availability of talent in the mining industry to be a key challenge for the growth of the Global Cobalt Market. The findings are for the forecast period 2014-2018.
The mining industry, particularly in the Democratic Republic of Congo (DRC) and Zambia, is experiencing rapid growth due to increasing global demand for cobalt and platinum group metals (PGM). Apart from the political and social problems in these countries, the mining industry is encountering difficulties finding professionals with the right knowledge and skills to take on complex mining jobs. The unstable socio-economic problems, employee disputes in mining sites, and armed conflicts in these countries are hampering the recruitment of skilled labor. In addition, the mining industry in general is facing competition from the higher paying oil and gas industry in the recruitment of newly qualified professionals and workers. This is resulting in greater bargaining power for unions when negotiating with their employers about remuneration and other disputes.
Globally, the DRC is the undisputed leader in cobalt production, accounting for more than 50 percent of total global production. China and Canada closely follow this, with Russia and Australia acting as the other leading producers of cobalt.
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Cobalt Market 2014-2018, please send an e-mail to media@TechNavio.com
About TechNavio
TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of Global Cobalt Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. 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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Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.
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