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

  • ID: 4612669
  • Report
  • April 2017
  • Region: Global
  • 149 pages
  • Allied Analytics LLP
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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.

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
Umicore
Zhangjiagang Huayi Chemical Co. Ltd.,

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.

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

OTHER KEY PLAYERS IN THE MARKET VALUE CHAIN INCLUDE THE FOLLOWING:

Dalian Ruiyuan
Hebei Kingway
Shanghai Qingong
Nantong Xinwei

*The above list of companies is not profiled, but can be profiled based on client request.
Note: Product cover images may vary from those shown
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CHAPTER 1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENT
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tool & Model

CHAPTER 2. EXECUTIVE SUMMARY
2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVES

CHAPTER 3. MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top Investment Pockets
3.2.2. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET DYNAMICS
3.4.1. Drivers
3.4.1.1. Rise in the end-use industries
3.4.2. Restraints
3.4.2.1. Health concerns related to cobalt sulphate industry
3.4.3. Opportunities
3.4.3.1. Acquisition & Mergers to expand the geographic reach of market players
3.5. MARKET SHARE ANALYSIS, 2016 (%)

CHAPTER 4. GLOBAL COBALT SULPHATE MARKET, BY APPLICATION
4.1. INTRODUCTION
4.1.1. Market Size and Forecast
4.2. SUPERALLOY
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast
4.3. HARDFACING/HSS & OTHER ALLOYS
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast
4.4. MAGNETS
4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast
4.5. HARD MATERIALS
4.5.1. Key Market Trends, Growth Factors and Opportunities
4.5.2. Market Size and Forecast
4.6. CATALYSTS
4.6.1. Key Market Trends, Growth Factors and Opportunities
4.6.2. Market Size and Forecast
4.7. COLORS
4.7.1. Key Market Trends, Growth Factors and Opportunities
4.7.2. Market Size and Forecast
4.8. BATTERY
4.8.1. Key Market Trends, Growth Factors and Opportunities
4.8.2. Market Size and Forecast
4.9.. OTHERS
4.9.1. Key Market Trends, Growth Factors and Opportunities
4.9.2. Market Size and Forecast

CHAPTER 5. GLOBAL COBALT SULPHATE MARKET, BY GEOGRAPHY
5.1. INTRODUCTION
5.1.1. Market Size and Forecast
5.2. AMERICA
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast
5.2.3. U.S.
5.2.3.1. Market size and forecast, by resin type
5.2.3.2. Market size and forecast, by end-use industry
5.2.4. Brazil
5.2.4.1. Market size and forecast, by resin type
5.2.4.2. Market size and forecast, by end-use industry
5.2.5. Mexico
5.2.5.1. Market size and forecast, by resin type
5.2.5.2. Market size and forecast, by end-use industry
5.2.6. Canada
5.2.6.1. Market size and forecast, by resin type
5.2.6.2. Market size and forecast, by end-use industry
5.3. EUROPE
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast
5.3.3. Belgium
5.3.3.1. Market size and forecast, by resin type
5.3.3.2. Market size and forecast, by end-use industry
5.3.4. Finland
5.3.4.1. Market size and forecast, by resin type
5.3.4.2. Market size and forecast, by end-use industry
5.3.5. France
5.3.5.1. Market size and forecast, by resin type
5.3.5.2. Market size and forecast, by end-use industry
5.3.6. Norway
5.3.6.1. Market size and forecast, by resin type
5.3.6.2. Market size and forecast, by end-use industry
5.4. ASIA-PACIFIC
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast
5.4.3. China
5.4.3.1. Market size and forecast, by resin type
5.4.3.2. Market size and forecast, by end-use industry
5.4.4. Japan
5.4.4.1. Market size and forecast, by resin type
5.4.4.2. Market size and forecast, by end-use industry
5.4.5. India
5.4.5.1. Market size and forecast, by resin type
5.4.5.2. Market size and forecast, by end-use industry
5.5. AFRICA
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast
5.5.3. Madagascar
5.5.3.1. Market size and forecast, by resin type
5.5.3.2. Market size and forecast, by end-use industry
5.5.4. Morocco
5.5.4.1. Market size and forecast, by resin type
5.5.4.2. Market size and forecast, by end-use industry
5.5.5. South Africa
5.5.5.1. Market size and forecast, by resin type
5.5.5.2. Market size and forecast, by end-use industry
5.5.6. D.R. Congo
5.5.6.1. Market size and forecast, by resin type
5.5.6.2. Market size and forecast, by end-use industry
5.5.7. Zambia
5.5.7.1. Market size and forecast, by resin type
5.5.7.2. Market size and forecast, by end-use industry
5.5. ROW
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast
5.5.3. Russia
5.5.3.1. Market size and forecast, by resin type
5.4.3.2. Market size and forecast, by end-use industry
5.5.4. Australia
5.5.4.1. Market size and forecast, by resin type
5.5.4.2. Market size and forecast, by end-use industry

CHAPTER 6. COMPANY PROFILES
6.1. NICOMET INDUSTRIES LIMITED
6.1.1. Company Overview
6.1.2. Company Snapshot
6.1.3. Operating Business Segments
6.1.4. Business Performance
6.1.5. Key Strategic Moves and Developments
6.2. MMC NORILSK NICKEL
6.2.1. Company Overview
6.2.2. Company Snapshot
6.2.3. Operating Business Segments
6.2.4. Business Performance
6.2.5. Key Strategic Moves and Developments
6.3. UMICORE
6.3.1. Company Overview
6.3.2. Company Snapshot
6.3.3. Operating Business Segments
6.3.4. Business Performance
6.3.5. Key Strategic Moves and Developments
6.4. NANTONG XINWEI NICKEL & COBALT HIGHTECH DEVELOPMENT CO. LTD.
6.4.1. Company Overview
6.4.2. Company Snapshot
6.4.3. Operating Business Segments
6.4.4. Business Performance
6.4.5. Key Strategic Moves and Developments
6.5. JINCHUAN GROUP CO., LTD
6.5.1. Company Overview
6.5.2. Company Snapshot
6.5.3. Operating Business Segments
6.5.4. Business Performance
6.5.5. Key Strategic Moves and Developments
6.6. JILIN JIEN NICKEL INDUSTRY CO., LTD.
6.6.1. Company Overview
6.6.2. Company Snapshot
6.6.3. Operating Business Segments
6.6.4. Business Performance
6.6.5. Key Strategic Moves and Developments
6.7. JIAYUAN COBALT HOLDINGS
6.7.1. Company Overview
6.7.2. Company Snapshot
6.7.3. Operating Business Segments
6.7.4. Business Performance
6.7.5. Key Strategic Moves and Developments
6.8. GANZHOU TENGYUAN COBALT INDUSTRIAL CO. LTD.
6.8.1. Company Overview
6.8.2. Company Snapshot
6.8.3. Operating Business Segments
6.8.4. Business Performance
6.8.5. Key Strategic Moves and Developments
6.9. FREEPORT COBALT OY
6.9.1. Company Overview
6.9.2. Company Snapshot
6.9.3. Operating Business Segments
6.9.4. Business Performance
6.9.5. Key Strategic Moves and Developments
6.10. ZHANGJIAGANG HUAYI CHEMICAL CO. LTD.,
6.10.1. Company Overview
6.10.2. Company Snapshot
6.10.3. Operating Business Segments
6.10.4. Business Performance
6.10.5. Key Strategic Moves and Developments
Note: Product cover images may vary from those shown
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Cobalt Sulphate Market Report, projects that the global market was valued at $913 million in 2016, and is expected to reach at $1,089 million by 2023, growing at a CAGR of 2.1% during the forecast period 2017-2023. The battery segment was the highest revenue contributor to the global cobalt sulphate market in 2016. Asia accounted the lead position, both in terms of value & volume, in 2015, and is expected to grow at the highest rate during the study period.

The battery segment accounted for the highest share of cobalt sulphate market in 2016, owing to the highest consumption of batteries in passenger electric vehicles, consumer electronics, and statiory storage. As per industry experts, the demand for lithium is expected to reach at 50,000 MT by 2020. At present, there are around 350 lithium mining projects active to accomplish the rise in demand for lithium batteries in various applications. The growth in end-use industries such as pigment, ceramic, glass, and battery drives the market for cobalt sulphate. However, the growth for cobalt sulphate market is expected to get affected, owing to the health concerns related to cobalt sulphate industry.

The rechargeable battery segment accounted for more than 40% of the share in the global cobalt sulphate market in 2016, as is employed in the growth of applications, such as passenger electric vehicles, consumer electronics, and statiory storage. Segments such as hard facing/HSS alloy and catalyst are projected to grow at a significant growth rate during the forecast period.

Key findings of the Cobalt Sulphate Market:

The battery segment occupied the highest share in 2016, and is expected to grow at a CAGR of 3.8%, in terms of volume, during the forecast period.
Asia is the leading consumer of cobalt sulphate, accounting for approximately half of the share of the global market in 2016, followed by Europe.
Magnets segment is expected to register the highest CAGR of 2.6% in terms of value, during the forecast period.
D.R. Congo and Madagascar are the leading cobalt sulphate supplier for Africa region.
Chi is the leading market in the Asia region, accounting for approximately two-third of the share of the global cobalt sulphate market in 2016.

Asia accounted for the highest market share in 2016, and is projected to grow at the highest CAGR of 2.4%, owing to the presence of major manufacturers in Chi. In addition, the demand from the passenger electric vehicles, consumer electronics, and statiory storage sector are expected to drive the market growth in Asia. Europe was estimated to be the second highest consumer for cobalt sulphate in 2015. Belgium & Finland are the major suppliers of cobalt sulphate in the region followed by Norway.

The key players profiled in this report are Freeport Cobalt Oy, Ganzhou Tengyuan Cobalt Industrial Co., Ltd., Jiayuan Cobalt Holdings, Jilin Jien Nickel Industry Co., Ltd., Jinchuan Group Co., Ltd., ntong Xinwei Nickel & Cobalt Hightech Development Co., Ltd., Nicomet Industries Limited, MMC Norilsk Nickel, Umicore, and Zhangjiagang Huayi Chemical Co. Ltd.
Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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