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Cobalt Sulphate Market - Global Opportunity Analysis and Industry Forecast, 2017-2023

Cobalt Sulphate Market - Global Opportunity Analysis and Industry Forecast, 2017-2023

  • April 2017
  • 149 pages
  • ID: 4930927
  • Format: PDF
  • By Allied Market Research


Table of Contents

Cobalt Sulphate Market by Application (Super alloy, Hard facing/HSS & Other Alloy, Magnet, Hard Material, Catalyst, Color, Battery) - Global Opportunity Analysis and Industry Forecast, 2017-2023

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.

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.

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

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
Zhangjiagang Huayi Chemical Co. Ltd.,

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.

Cobalt Sulphate Market Key Segments:

Super Alloy
Hard Facing/ HSS & Other Alloy
Hard Material
Colors (Glass, Enamel, Plastic, Ceramic, Artistic Color, Fabric, Tire Adhesive, Soap, and Drier)
Others (Feedstuff, Biotech, Anodizing, Recording Media, and Electrolysis)

South Africa
D.R. Congo


Dalian Ruiyuan
Hebei Kingway
Shanghai Qingong
Nantong Xinwei

*The above list of companies is not profiled, but can be profiled based on client request.

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