Report Ocean has recently published the “Cobalt Sulphate Market “ Research Report 2023-2031, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2031.
The global cobalt sulphate market was valued at $913 million in 2016, and is anticipated to reach $1,089 million by 2023, growing at a CAGR of 2.1% during the forecast period from 2017 to 2023. In terms of volume, the market is anticipated to grow at a CAGR of 4.6% during the forecast period. Cobalt sulphate market is segmented based on application and geography. The demand for cobalt sulphate has increased, owing to rise in use in the lithium ion batteries. In addition, the use of cobalt alloys in growing industries, such as aviation, consumer electronics, stationery storage & electric vehicles drive the market.
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Cobalt sulfate is an inorganic compound depicted by the chemical formula, CoSO4 (H2O) x. Cobalt sulfate refers to the hydrate, CoSO4.7 H2O, which is one of the most commonly available salts of cobalt. Cobalt sulfate heptahydrate appears as red monoclinic crystals, which liquefies at around 100?C, and becomes anhydrous at 250?C. It is soluble in water, slightly soluble in ethanol, and soluble in methanol. The salts of cobalt sulfate are paramagnetic.
Based on the application, the market is bifurcated into super alloys, hard facing/ HSS alloy, magnet, hard material, catalyst, color, and battery. The battery segment accounted for the highest share of cobalt sulphate market in 2015. Rechargeable lithium-ion batteries are used in passenger electric vehicles, consumer electronics, and stationery storage. The market for electric vehicles (EVs) was valued at 270,000 units in 2015, and propelled to 1 million units in 2017. The growth in the electric vehicles segment was attributed to the rise of cobalt sulphate industry. However, the growth of the market is restricted, owing to its fluctuating prices & unavailability in many countries. The prices for both lithium and cobalt have increased from to $20.5-24/kg in 2017 from $7/kg in June 2016, thereby restricting the market growth for cobalt sulphate.
Geographically, the market is analyzed across America, Europe (Excluding Russia), Asia, Africa, and rest of world. Asia led the market, both in terms of value & volume, in 2015, owing to large volumes of ore & concentrate is mined in China. The demand for cobalt sulphate is anticipated to be highest in Asia due to the rise in applications of cobalt sulphate. China Molybdenum Co. Ltd. acquired Africa’s largest copper mines to secure China’s supplies of cobalt for increased applications of cobalt sulphate
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KEY MARKET BENEFITS
The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global cobalt sulphate market to elucidate the prevailing opportunities and the probable investment pockets.
It offers qualitative trends and quantitative analysis from 2015 to 2023 to assist the stakeholders to understand the market scenario.
A detailed analysis of the key segments demonstrates the consumption of cobalt sulphate in different applications across various industries.
Competitive intelligence highlights the business practices, strategies, and developments followed by key business players globally.
The companies profiled in the report are as follows:
Freeport Cobalt Oy
Ganzhou Tengyuan Cobalt Industrial Co., Ltd.
Jiayuan Cobalt Holdings
Jilin Jien Nickel Industry Co., Ltd.
Jinchuan Group Co., Ltd.
Nantong Xinwei Nickel & Cobalt Hightech Development Co., Ltd.
Nicomet Industries Limited
MMC Norilsk Nickel
Umicore
Zhangjiagang Huayi Chemical Co. Ltd.,
OTHER KEY PLAYERS IN THE MARKET VALUE CHAIN INCLUDE THE FOLLOWING:
Dalian Ruiyuan
Hebei Kingway
Shanghai Qingong
Nantong Xinwei
Cobalt Sulphate Market Key Segments:
BY APPLICATION
Super Alloy
Hard Facing/ HSS & Other Alloy
Magnet
Hard Material
Catalyst
Colors (Glass, Enamel, Plastic, Ceramic, Artistic Color, Fabric, Tire Adhesive, Soap, and Drier)
Battery
Others (Feedstuff, Biotech, Anodizing, Recording Media, and Electrolysis)
BY GEOGRAPHY
America
Brazil
Canada
U.S.
Europe
Belgium
Finland
France
Norway
Asia
China
Japan
India
Africa
Madagascar
Morocco
South Africa
D.R. Congo
Zambia
RoW
Australia
Russia
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
What Are the Key Data Covered in This Market Report?
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- This data may be presented in terms of revenue, market share, or other relevant metrics.
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- Data on these challenges and opportunities can inform business decisions and strategies.
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- Regional data helps to understand market dynamics at a local level.
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- This data can provide insights into customer needs and expectations, helping businesses tailor their offerings accordingly.
- The report may provide forecasts for the future of the market based on historical data, market trends, and other factors.
- This data helps stakeholders understand the potential growth and opportunities in the market.
Questions & Answers Market Research/Analysis Report Contains to your following:
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