Evolving Cobalt Applications: From Glassware in Ancient Egypt to Supper Alloys in Today’s Gas Turbines
Cobalt has been used as a pigment in glassware and ceramics since ancient times. While the traditional use of cobalt extends to date in providing a brilliant blue color to ceramics, glassware, and inks, newer applications have evolved to take center stage. For instance, cobalt superalloys are extensively used in gas turbines, where high-temperature resistance and resistance to corrosion are crucial. Cobalt is also a key contributor to the development of a greener society as it acts as a catalyst in desulphurization reactions for clean fuels and gas-to-liquid technology. It is also required in industrial processes such as the creation of recyclable plastics.
The Global Rush to Electric Mobility
The Democratic Republic of Congo has the largest cobalt reserves in the world and exports raw materials to China for further use. China is the largest global consumer of lithium and has invested USD 4,200 million in lithium deals in South America alone. The country enjoys foreign investments in the automobile sector from the European region and buys electric battery and vehicle manufacturing companies in Japan, South Korea, and Europe. China’s rush to become the global supplier of rechargeable batteries is expected to drive the cobalt market.
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New Growth Avenues: The Demand for Cobalt in B12 Dietary Supplements
Recent lifestyle changes and irregular dietary patterns are leading to deficiencies and health problems among adults, globally. For instance, B12 deficiency is common among adults, affecting 2–15% of the general population. Cobalt is an essential element for health and vitality in humans and forms a part of Vitamin B12, which is solely present in animal-derived foods, such as milk products, eggs, and meats. Thus, dietary supplements manufacturers are also demanding cobalt for use in their products, which is expected to provide a fillip to the global demand for cobalt.
Cobalt Market Segmentation
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