![]() Cobalt-based superalloys are largely used to make jet turbines and industrial gas turbines. Superalloys are extensively used in the gas turbine industry, in which elevated resistance to temperature and thermal oxidation are important material considerations. Several industry experts believed that the growth of the global electric-vehicle (EV) industry would result in a 4-fold rise in the demand for cobalt by 2020 (from 2018 levels), and they predict that it will increase 11-fold by 2027.Īnother driving factor for the market growth could be the increased use of cobalt for metallurgical uses, primarily in high-temperature alloys (superalloys). The ever-increasing usage of Li-ion batteries in electric vehicles is seen as the leading factor that will boost the demand for cobalt in the coming years. These features are useful in hybrid cars, electric vehicles and the storage systems used on renewable energy farms. We all know that Li-ion batteries have more energy, power density and cycling ability than other batteries. Cobalt plays a key role in the chemistry of lithium-ion batteries. These batteries are broadly used in a wide range of applications, including electric vehicles and small portable electronic devices, like notebook computers, mobile phones, games and power tools. The growth of the worldwide cobalt market is largely dependent on the demand for rechargeable batteries.
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