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

Paints, Coatings and Additives	MA_172149	Pages: 149	Apr 2017 \| 3599 Views
Author(s) : Ashmita Roy	Tables: 84	Charts: 25	Formats*:

Cobalt Sulphate Market Overview:

Global Cobalt Sulphate Market size is expected to reach at $1,089 million by 2023 from $913 million in 2015, and, growing at a CAGR of 1.8% during the forecast period 2017-2023. Cobalt sulfate is an inorganic, divalent cobalt salt of sulfuric acid, represented by the chemical formula, CoSO4. It is an odorless reddish metallic salt, which is readily soluble in water and methanol. Cobalt oxide or other cobalt derivatives are dissolved in dilute sulfuric acid, which crystallizes to form cobalt sulfate. In addition, large amount of cobalt sulfate is produced as a by-product during the manufacturing of various metals, such as nickel and copper. The global cobalt sulphate market is segmented based on application and region. Based on application, it is bifurcated into super alloy, hard facing/HSS & other alloy, magnet, hard material, catalyst, color, and battery, and others. Super alloys are high-performance alloys, used in situations that require exceptional properties, such as high mechanical strength, resistance to high temperatures, corrosion, and other stress situations. Besides the batteries segment, a major share of the cobalt sulphate industry has accounted by the super alloys segment due to their applications in aircraft manufacturing.

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Top Investment Pocket

Hard facing is a process of applying a tougher material to the base metal to enhance their resistance to heat, wear & tear, and corrosion. HSS or High Speed Steel refers to steel containing refractory carbides in larger amounts for enhanced properties, such as high temperature strength, hardness, wear resistance to tempering, and several others. Cobalt sulphate is used in HSS as it significantly enhances the temperature strength of the material. The consumption and demand for cobalt sulphate for HSS and hard facing are highest during the forecast period due to the high temperature strength of cobalt containing HSS and materials over others.

Segment Review

The most common use of cobalt sulphate is in batteries. Cobalt sulphate is widely used a precursor for battery cathodes in storage batteries, employed in electric vehicles (EV). Cobalt is one of the major element used for manufacturing Lithium-ion (Li-ion) rechargeable batteries. Employing cobalt as the cathode of rechargeable batteries efficiently improves their energy density, power, and performance as compared to batteries that lacks cobalt. The cobalt industry is expected to be driven by the investments by market players and demand for cobalt containing Li-ion batteries for EVs. For instance, an investment of USD 5 billion by Tesla in its Li-ion giga factory in Nevada, USD1.06 billion investment by Porsche for EV production, investment of $1 billion by Faraday Future for the development of EVs, and several others.

Africa Review

Madagascar and D.R. Congo are the most active players for cobalt sulphate market in the African region. At present, the cobalt sulphate supply was done from the copper belt of the D.R. Congo and Zambia. The government of D.R. Congo have regularly imposed restriction on the export of ores & concentrates to encourage the downstream processing in the country. The country has negotiating mining contracts with other countries.

The key players operating in the global cobalt sulphate market are 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, and Zhangjiagang Huayi Chemical Co. Ltd.

The other players (not profiled in the report) operating in this market are Dalian Ruiyuan, Hebei Kingway, Shanghai Qingong, and Nantong Xinwei.

Key Benefits

This report provides an extensive analysis of the current cobalt sulphate industry trends, future estimations, and dynamics from 2015 to 2023, which assist to identify the prevailing opportunities.
Geographically, the cobalt sulphate market is analyzed across America, Europe, Asia, Africa, and rest of world.
Extensive market analysis predicts the applications that are currently used and the variants that are expected to gain prominence in the future.
Detailed analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
Key players are profiled and their strategies are analyzed thoroughly, which portrays the competitive market outlook.

Cobalt Sulphate Market Key Segments

By Application

Super Alloy
Hard Facing/ HSS & Other Alloy
Magnet
Hard Material
Catalyst
Color (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.
- Canada
Europe
- Belgium
- Finland
- France
- Norway
Asia
- China
- Japan
- India
Africa
- Madagascar
- Morocco
- South Africa
- D.R. Congo
- Zambia
RoW
- Australia
- Russia

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

List of Tables

TABLE 1. GLOBAL COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 2. GLOBAL COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 3. GLOBAL SUPERALLOY MARKET, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 4. GLOBAL SUPERALLOY MARKET, BY GEOGRAPHY, 2015-2023 (TONS)
TABLE 5. GLOBAL HARDFACING/HSS & OTHER ALLOYS MARKET, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 6. GLOBAL HARDFACING/HSS & OTHER ALLOYS MARKET, BY GEOGRAPHY, 2015-2023 (TONS)
TABLE 7. GLOBAL COBALT SULPHATE MARKET IN MAGNETS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 8. GLOBAL COBALT SULPHATE MARKET IN MAGNETS, BY GEOGRAPHY, 2015-2023 (TONS)
TABLE 9. GLOBAL COBALT SULPHATE MARKET IN CATALYSTS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 10. GLOBAL COBALT SULPHATE MARKET IN CATALYSTS, BY GEOGRAPHY, 2015-2023 (TONS)
TABLE 11. GLOBAL COBALT SULPHATE MARKET IN COLORS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 12. GLOBAL COBALT SULPHATE MARKET IN COLORS, BY GEOGRAPHY, 2015-2023 (TONS)
TABLE 13. GLOBAL COBALT SULPHATE MARKET IN BATTERY, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 14. GLOBAL COBALT SULPHATE MARKET IN BATTERY, BY GEOGRAPHY, 2015-2023 (TONS)
TABLE 15. GLOBAL COBALT SULPHATE MARKET IN OTHER APPLICATION, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 16. GLOBAL COBALT SULPHATE MARKET IN OTHER APPLICATION, BY GEOGRAPHY, 2015-2023 (TONS)
TABLE 17. AMERICA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 18. AMERICA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 19. AMERICA COBALT SULPHATE MARKET, BY COUNTRY, 2015-2023 ($MILLION)
TABLE 20. AMERICA COBALT SULPHATE MARKET, BY COUNTRY, 2015-2023 TONS)
TABLE 21. U.S. COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 22. U.S. COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 23. CANADA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 24. CANADA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 25. MEXICO COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 26. MEXICO COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 27. BRAZIL COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 28. BRAZIL COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 29. EUROPE COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 30. EUROPE COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 31. EUROPE COBALT SULPHATE MARKET, BY COUNTRY, 2015-2023 ($MILLION)
TABLE 32. EUROPE COBALT SULPHATE MARKET, BY COUNTRY, 2015-2023 (TONS)
TABLE 33. BELGIUM COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 34. BELGIUM COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 35. FINLAND COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 36. FINLAND COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 37. FRANCE COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 38. FRANCE COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 39. NORWAY COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 40. NORWAY COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 41. ASIA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 42. ASIA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 43. ASIA-PACIFIC COBALT SULPHATE MARKET, BY COUNTRY, 2015-2023 ($MILLION)
TABLE 44. ASIA-PACIFIC COBALT SULPHATE MARKET, BY COUNTRY, 2015-2023 (TONS)
TABLE 45. CHINA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 46. CHINA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 47. JAPAN COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 48. JAPAN COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 49. INDIA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 50. INDIA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 51. AFRICA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 52. AFRICA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 53. AFRICA COBALT SULPHATE MARKET, BY COUNTRY, 2015-2023 ($MILLION)
TABLE 54. AFRICA COBALT SULPHATE MARKET, BY COUNTRY, 2015-2023 (TONS)
TABLE 55. MADAGASCAR COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 56. MADAGASCAR COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 1(TONS)
TABLE 57. MOROCCO COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 58. MOROCCO COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 59. SOUTH AFRICA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 60. SOUTH AFRICA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 61. D.R.CONGO COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 62. D.R.CONGO COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 63. ZAMBIA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 ($MILLION)
TABLE 64. ZAMBIA COBALT SULPHATE MARKET, BY APPLICATION, 2015-2023 (TONS)
TABLE 65. FREEPORT COBALT OY: COMPANY SNAPSHOT
TABLE 66. FREEPORT COBALT OY: OPERATING SEGMENTS
TABLE 67. GANZHOU TENGYUAN COBALT INDUSTRIAL CO., LTD. : COMPANY SNAPSHOT
TABLE 68. GANZHOU TENGYUAN COBALT INDUSTRIAL CO., LTD. : OPERATING SEGMENTS
TABLE 69. JIAYUAN COBALT HOLDINGS: COMPANY SNAPSHOT
TABLE 70. JIAYUAN COBALT HOLDINGS: OPERATING SEGMENTS
TABLE 71. JILIN JIEN NICKEL INDUSTRY CO., LTD. : COMPANY SNAPSHOT
TABLE 72. JILIN JIEN NICKEL INDUSTRY CO., LTD. : OPERATING SEGMENTS
TABLE 73. JINCHUAN GROUP CO., LTD. : COMPANY SNAPSHOT
TABLE 74. JINCHUAN GROUP CO., LTD. : OPERATING SEGMENTS
TABLE 75. NANTONG XINWEI NICKEL & COBALT HIGHTECH DEVELOPMENT CO., LTD. : COMPANY SNAPSHOT
TABLE 76. NANTONG XINWEI NICKEL & COBALT HIGHTECH DEVELOPMENT CO., LTD. : OPERATING SEGMENTS
TABLE 77. NICOMET INDUSTRIES LIMITED : COMPANY SNAPSHOT
TABLE 78. NICOMET INDUSTRIES LIMITED : OPERATING SEGMENTS
TABLE 79. MMC NORILSK NICKEL : COMPANY SNAPSHOT
TABLE 80. MMC NORILSK NICKEL : OPERATING SEGMENTS
TABLE 81. UMICORE : COMPANY SNAPSHOT
TABLE 82. UMICORE : OPERATING SEGMENTS
TABLE 83. ZHANGJIAGANG HUAYI CHEMICAL CO. LTD.,: COMPANY SNAPSHOT
TABLE 84. ZHANGJIAGANG HUAYI CHEMICAL CO. LTD.,: OPERATING SEGMENTS

List of Figures

FIGURE 1. GLOBAL COBALT SULPHATE MARKET: SEGMENTATION
FIGURE 2. GLOBAL COBALT SULPHATE MARKET SHARE, BY APPLICATION, 2015 (%)
FIGURE 3. TOP INVESTMENT POCKETS, BY APPLICATION
FIGURE 4. TOP WINNING STRATEGIES
FIGURE 5. BARGAINING POWER OF SUPPLIERS
FIGURE 6. BARGAINING POWER OF BUYERS
FIGURE 7. THREAT OF NEW ENTRANTS
FIGURE 8. THREAT OF SUBSTITUTES
FIGURE 9. COMPETITIVE RIVALRY
FIGURE 10. U.S. COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 11. CANADA COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 12. MEXICO COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 13. BRAZIL COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 14. BELGIUM COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 15. FINLAND COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 16. FRANCE COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 17. NORWAY COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 18. CHINA COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 19. JAPAN COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 20. INDIA COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 21. MADAGASCAR COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 22. MOROCCO COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 23. SOUTH AFRICA COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 24. D.R.CONGO COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 25. ZAMBIA COBALT SULPHATE MARKET VALUE, 2015-2023 ($MILLION)

Cobalt sulfate is one of the most commonly occurring salts of cobalt, and is usually present as a hydrate, CoSO4.xH2O. It has been used as a pigment to impart blue color to porcelain and glass since 14th century BC. It was originally mined along with silver and arsenic in Saxony and Bohemia. Cobalt was earlier obtained from its major ores, i.e. cobaltite, erythrite, skutterudite, and glaucodot. However, it is obtained as a by-product from nickel & copper mining. Congo has been the largest producer of cobalt since the 1920s, and accounted for approximately two-thirds share of the global production. The other major producers include China, Canada, Russia, and Australia. The major manufacturing technologies used for obtaining cobalt sulfate are cobalt concentrate method, crude cobalt hydroxide method, nickel ore method, and recycled materials method.

The electric vehicle (EV) sector is expected to fuel the demand for cobalt in the form of battery grade cobalt sulfate. As per the global electric vehicle (EV) outlook 2016, more than 550,000 electric vehicles were sold globally, in 2015, registering an annual growth of 70% as compared to 2014. Significant number of global EVs are expected to adopt the cobalt sulfate bearing battery technology. China, U.S., the Netherlands, Norway, UK, Japan, Germany, and France are the eight key markets, which use cobalt bearing batteries in electric vehicles (EVs).