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Report
Cobalt Sulphate Market by Form (Powder, Solution), Application (Alloys, Magnets, Hard Materials, Catalyst, Inks and Dyes, Batteries, and Others), and Region 2023-2028
Market Report I 2023-05-29 I 134 Pages I IMARC Group
Market Overview:
The global cobalt sulphate market size reached US$ 1.17 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.65 Billion by 2028, exhibiting a growth rate (CAGR) of 5.75% during 2023-2028. The increasing sales of electric vehicles, the implementation of government initiatives to promote renewable energy, and the rising utilization of consumer electronics represent some of the key factors driving the market.
Cobalt sulfate, with the formula CoSO4, is a chemical compound that consists of cobalt, sulfur, and oxygen. It is mixed with sulfuric acid to form cobalt sulfate heptahydrate and can also be produced through a process known as electroplating, wherein cobalt is deposited onto a metal substrate using an electrolyte solution containing cobalt sulphate. It is highly soluble in water, stable at room temperature, and can withstand high temperatures without decomposition. It is widely used in the production of rechargeable batteries, particularly in lithium-ion batteries used in electric vehicles, portable electronic devices, and energy storage systems. It is also utilized as a feed additive for livestock and poultry to prevent cobalt deficiency, which can lead to health issues in animals. In recent years, cobalt sulphate has gained momentum as it finds extensive applications across various industrial verticals such as it is used as a drying agent for paints and inks, and as a feed supplement for livestock.
Cobalt Sulphate Market Trends:
The market is primarily driven by the surging sales of electric vehicles across the globe. Cobalt sulfate is used in manufacturing lithium-ion batteries, which are a key component of EVs. In addition, the increasing demand for consumer electronics represents another major growth-inducing factor. Cobalt sulfate is also used to produce rechargeable batteries for smartphones, laptops, and other electronic devices. Besides this, governments of numerous countries are promoting the use of renewable energy sources to reduce carbon emissions. This has led to increased production of solar panels and wind turbines, which use cobalt sulfate in their construction. This, coupled with the rising product adoption in the ceramic and glass industry, is contributing to the market growth. Cobalt sulphate is used as a colorant in ceramics and glass production to provide deep pigment. Moreover, emerging markets such as China and India are rapidly industrializing, which is increasing the demand for cobalt sulphate as a key raw material for various industrial applications. As these economies continue to grow, the demand for cobalt sulfate is expected to rise further. Furthermore, cobalt sulphate is widely used as a feed additive for livestock and poultry to prevent cobalt deficiency in animals which is also creating a favorable market outlook across the globe.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global cobalt sulphate market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on form and application.
Form Insights:
Powder
Solution
The report has provided a detailed breakup and analysis of the cobalt sulphate market based on the form. This includes powder and solution. According to the report, powder represented the largest segment.
Application Insights:
Alloys
Magnets
Hard Materials
Catalyst
Inks and Dyes
Batteries
Others
A detailed breakup and analysis of the cobalt sulphate market based on the application has also been provided in the report. This includes alloys, magnets, hard materials, catalyst, inks and dyes, batteries, and others. According to the report, batteries accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for cobalt sulphate. Some of the factors driving the Asia Pacific cobalt sulphate market include increasing sales of electric vehicles, escalating demand for consumer electronics, and rapid industrialization.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global cobalt sulphate market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Anglo American plc, Ganzhou Tengyuan Cobalt New Material Co. Ltd., GEM Co. Ltd., Hunter Chemical LLC, Incasa S.A., Jervois Finland, Merck KGaA, Nantong Xinwei Nickel & Cobalt Hightech Development Co. Ltd., Norilsk Nickel, Umicore N.V., Zhangjiagang Huayi Chemical Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global cobalt sulphate market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global cobalt sulphate market?
What is the impact of each driver, restraint, and opportunity on the global cobalt sulphate market?
What are the key regional markets?
Which countries represent the most attractive cobalt sulphate market?
What is the breakup of the market based on the form?
Which is the most attractive form in the cobalt sulphate market?
What is the breakup of the market based on the application?
Which is the most attractive application in the cobalt sulphate market?
What is the competitive structure of the global cobalt sulphate market?
Who are the key players/companies in the global cobalt sulphate market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Cobalt Sulphate Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Form
6.1 Powder
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Solution
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Application
7.1 Alloys
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Magnets
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Hard Materials
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Catalyst
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Inks and Dyes
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Batteries
7.6.1 Market Trends
7.6.2 Market Forecast
7.7 Others
7.7.1 Market Trends
7.7.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 Drivers, Restraints, and Opportunities
9.1 Overview
9.2 Drivers
9.3 Restraints
9.4 Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Anglo American plc
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.1.3 Financials
13.3.1.4 SWOT Analysis
13.3.2 Ganzhou Tengyuan Cobalt New Material Co. Ltd.
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 Financials
13.3.3 GEM Co. Ltd.
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.3.3 Financials
13.3.4 Hunter Chemical LLC
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5 Incasa S.A.
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.6 Jervois Finland
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.7 Merck KGaA
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.7.3 Financials
13.3.7.4 SWOT Analysis
13.3.8 Nantong Xinwei Nickel & Cobalt Hightech Development Co. Ltd.
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.9 Norilsk Nickel
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.9.3 Financials
13.3.9.4 SWOT Analysis
13.3.10 Umicore N.V.
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.10.3 Financials
13.3.10.4 SWOT Analysis
13.3.11 Zhangjiagang Huayi Chemical Co. Ltd.
13.3.11.1 Company Overview
13.3.11.2 Product PortfolioKindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Figure 1: Global: Cobalt Sulphate Market: Major Drivers and Challenges
Figure 2: Global: Cobalt Sulphate Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Cobalt Sulphate Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Cobalt Sulphate Market: Breakup by Form (in %), 2022
Figure 5: Global: Cobalt Sulphate Market: Breakup by Application (in %), 2022
Figure 6: Global: Cobalt Sulphate Market: Breakup by Region (in %), 2022
Figure 7: Global: Cobalt Sulphate (Powder) Market: Sales Value (in Million US$), 2017 & 2022
Figure 8: Global: Cobalt Sulphate (Powder) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 9: Global: Cobalt Sulphate (Solution) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Cobalt Sulphate (Solution) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Cobalt Sulphate (Alloys) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Cobalt Sulphate (Alloys) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Cobalt Sulphate (Magnets) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Cobalt Sulphate (Magnets) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Cobalt Sulphate (Hard Materials) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Cobalt Sulphate (Hard Materials) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Cobalt Sulphate (Catalyst) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Cobalt Sulphate (Catalyst) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Cobalt Sulphate (Inks and Dyes) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Cobalt Sulphate (Inks and Dyes) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Cobalt Sulphate (Batteries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Cobalt Sulphate (Batteries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Cobalt Sulphate (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Cobalt Sulphate (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: North America: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: North America: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: United States: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: United States: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Canada: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Canada: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Asia-Pacific: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Asia-Pacific: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: China: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: China: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Japan: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Japan: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: India: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: India: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: South Korea: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: South Korea: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Australia: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Australia: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Indonesia: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Indonesia: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Others: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Others: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Europe: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Europe: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Germany: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Germany: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: France: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: France: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: United Kingdom: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: United Kingdom: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Italy: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Italy: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Spain: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Spain: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Russia: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Russia: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Others: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Others: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Latin America: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Latin America: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Brazil: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Brazil: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Mexico: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Mexico: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Others: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Others: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Middle East and Africa: Cobalt Sulphate Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Middle East and Africa: Cobalt Sulphate Market: Breakup by Country (in %), 2022
Figure 73: Middle East and Africa: Cobalt Sulphate Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Global: Cobalt Sulphate Industry: Drivers, Restraints, and Opportunities
Figure 75: Global: Cobalt Sulphate Industry: Value Chain Analysis
Figure 76: Global: Cobalt Sulphate Industry: Porter's Five Forces Analysis
Table 1: Global: Cobalt Sulphate Market: Key Industry Highlights, 2022 & 2028
Table 2: Global: Cobalt Sulphate Market Forecast: Breakup by Form (in Million US$), 2023-2028
Table 3: Global: Cobalt Sulphate Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: Cobalt Sulphate Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: Cobalt Sulphate Market: Competitive Structure
Table 6: Global: Cobalt Sulphate Market: Key Players
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