Cobalt Sulfate Market Size to Garner 5.74% CAGR | 43% of the market growth will originate from APAC | 17,000+ Technavio Reports

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NEW YORK, May 25, 2022 /PRNewswire/ -- The latest market analysis report titled Cobalt Sulfate Market by Application and Geography - Forecast and Analysis 2022-2026 is now available at Technavio. The report predicts the market size to grow by 7617.48 million tonnes per annum from 2021 to 2026. The cobalt sulfate market analysis study also provides comprehensive insights on factors influencing the market growth.

Technavio has announced its latest market research report titled Cobalt Sulfate Market by Application and Geography - Forecast and Analysis 2022-2026
Technavio has announced its latest market research report titled Cobalt Sulfate Market by Application and Geography - Forecast and Analysis 2022-2026

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Cobalt Sulfate Market Dynamics

  • The growth of the electric vehicle industry is one of the key drivers anticipated to influence the market growth positively during the forecast period. The global electric vehicle market has recorded a 160% growth in the first half of 2021 when compared to 2020. This will lead to an increase in electric vehicle battery production, which, in turn, would spur the demand for cobalt, boosting the market growth.

  • Primary cobalt mines emerging is one of the key cobalt sulfate market trends contributing to the market growth.
    The increasing demand for EVs and energy storage devices is increasing the demand for nickel, cobalt, and aluminum lithium-ion batteries.

  • The increasing price of cobalt sulfate is one of the limitations likely to hinder the market growth. Primarily, there is an imbalance in the demand-supply ratio in the cobalt market. At the beginning of 2020, the cost of cobalt was much lower than the current prices. Thus, such an increase in the price of cobalt sulfate will hinder the CoSO4(H2O)x market growth during the forecast period.

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Cobalt Sulfate Market: Application Landscape

  • Battery: The battery application segment held the largest cobalt sulfate market share in 2021. The segment will continue to retain its market dominance during the forecast period. Batteries, especially lithium-ion batteries, will hold a major share of the global cobalt sulfate market during the forecast period. The major driver for the high demand for batteries is the increasing demand for EVs across the world.

  • Pigment

  • Others

Cobalt Sulfate Market Regional Opportunities

  • APAC: 43% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the cobalt sulfate market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The EV sales in India are expected to increase by the end of 2022, which will facilitate the cobalt sulfate market growth in APAC over the forecast period.

  • Europe

  • North America

  • MEA

  • South America

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Companies Covered:

  • Anglo American Plc

  • Australian Mines Ltd.

  • Dalian Aote Cobalt Nickel New Material Manufacturing Co.

  • Freeport McMoRan Inc.

  • Ganzhou Tengyuan Cobalt New Materials Co. Ltd.

  • GEM Co. Ltd.

  • Hunter Chemical LLC

  • INCASA SA

  • Jervois Global Ltd.

  • Jinchuan Group International Resources Co. Ltd.

  • Merck KGaA

  • Nantong Xinwei Nickel and Cobalt Hightech Development Co. Ltd.

  • PJSC MMC Norilsk Nickel

  • Umicore NV

  • Vedanta Ltd.

  • Zhangjiagang Huayi Chemical Co. Ltd.

  • Zhejiang Huayou Cobalt Co. Ltd.

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What our reports offer:

  • Market share assessments for the regional and country-level segments

  • Strategic recommendations for the new entrants

  • Covers market data for 2020, 2021, until 2025

  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)

  • Strategic recommendations in key business segments based on the market estimations

  • Competitive landscaping mapping the key common trends

  • Company profiling with detailed strategies, financials, and recent developments

  • Supply chain trends mapping the latest technological advancements

Related Reports:

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Cobalt Sulfate Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.74%

Market growth 2022-2026

7617.48 MTPA

Market structure

Fragmented

YoY growth (%)

4.7

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 43%

Key consumer countries

US, China, Japan, India, and Russia

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Anglo American Plc, Australian Mines Ltd., Dalian Aote Cobalt Nickel New Material Manufacturing Co., Freeport McMoRan Inc., Ganzhou Tengyuan Cobalt New Materials Co. Ltd., GEM Co. Ltd., Hunter Chemical LLC, INCASA SA, Jervois Global Ltd., Jinchuan Group International Resources Co. Ltd., Merck KGaA, Nantong Xinwei Nickel and Cobalt Hightech Development Co. Ltd., PJSC MMC Norilsk Nickel, Umicore NV, Vedanta Ltd., Zhangjiagang Huayi Chemical Co. Ltd., and Zhejiang Huayou Cobalt Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Content

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Application

  • 5.1 Market segments

  • 5.2 Comparison by Application

  • 5.3 Battery - Market size and forecast 2021-2026

  • 5.4 Pigment - Market size and forecast 2021-2026

  • 5.5 Others - Market size and forecast 2021-2026

  • 5.6 Market opportunity by Application

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 APAC - Market size and forecast 2021-2026

  • 7.4 Europe - Market size and forecast 2021-2026

  • 7.5 North America - Market size and forecast 2021-2026

  • 7.6 Middle East and Africa - Market size and forecast 2021-2026

  • 7.7 South America - Market size and forecast 2021-2026

  • 7.8 China - Market size and forecast 2021-2026

  • 7.9 US - Market size and forecast 2021-2026

  • 7.10 Russia - Market size and forecast 2021-2026

  • 7.11 Japan - Market size and forecast 2021-2026

  • 7.12 India - Market size and forecast 2021-2026

  • 7.13 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Anglo American Plc

  • 10.4 Dalian Aote Cobalt Nickel New Material

  • 10.5 Freeport McMoRan Inc.

  • 10.6 Ganzhou Tengyuan Cobalt New Materials

  • 10.7 INCASA SA

  • 10.8 PJSC MMC Norilsk Nickel

  • 10.9 Umicore NV

  • 10.10 Vedanta Ltd.

  • 10.11 Zhangjiagang Huayi Chemical Co. Ltd.

  • 10.12 Zhejiang Huayou Cobalt Co. Ltd.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

About Us
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