Loading...
0

Cobalt Sulphate Market Expected to Reach $1,089 Million, Globally, by 2023

 
 

quote Increased usage of cobalt sulphate in the rechargeable lithium-ion batteries is anticipated to drive the global cobalt sulphate market. quote

Eswara Prasad
Team Lead, Chemicals & Materials at AMR

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

Cobalt Sulphate Market Report, published by Allied Market Research, 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.

Access Full Summary at: https://www.alliedmarketresearch.com/cobalt-sulphate-market

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 stationary 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 stationary 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.
  • China 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 China. In addition, the demand from the passenger electric vehicles, consumer electronics, and stationary 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., Nantong Xinwei Nickel & Cobalt Hightech Development Co., Ltd., Nicomet Industries Limited, MMC Norilsk Nickel, Umicore, and Zhangjiagang Huayi Chemical Co. Ltd.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Shaun Godinho
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote 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 quote

View Report
 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Cobalt Sulphate Market"
Purchase Enquiry