Cobalt Sulphate Market – Global Industry Analysis and Forecast (2024-2030)


Cobalt Sulphate Market was valued at US$ 1.18 Bn in 2023 and is expected to reach US$ 1.81 Bn by 2030 at a CAGR of 6.2% during the forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.Cobalt Sulphate MarketTo know about the Research Methodology :- Request Free Sample Report

Cobalt Sulphate Market Dynamics:

Enhancement of hybrid and electric vehicles, usage of Li-ion batteries in vehicles and separating cobalt with restricted crude materials are main driving factors in Global Cobalt Sulphate Market.

Chemical manufacturers have promised support and adherence to governments & regional authorities that are committing towards green, sustainable initiatives. The development of bio-alternatives is gaining momentum. Research & academic institutes are teaming up with manufacturers to formulate sustainable substitutes for commonly-used chemical substrates. Many companies are keeping a close eye on advancements in “green chemistry.” The shift towards eco-friendly chemicals will gain momentum in the future on the back of government regulations and end-user preference. Rising costs of fossil fuels will also instrument the upsurge for sustainable chemicals manufacturing.

Cobalt Sulphate Market Segment Analysis:

The battery segment accounted for the highest share of cobalt sulphate market in 2023, owing to the highest consumption of batteries in passenger electric vehicles, consumer electronics, and stationary storage. The demand for lithium is expected to reach at 50,000 MT by 2030. 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.

Cobalt Sulphate Market Regional Insights:

Asia accounted for the highest market share in 2023 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 2023. Belgium & Finland are the major suppliers of cobalt sulphate in the region followed by Norway.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by solution type, end user, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the cobalt sulphate market.

Cobalt Sulphate Market, Key Highlights:

• Global Cobalt Sulphate Market analysis and forecast, in terms of value.

• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Cobalt Sulphate Market

• Global Cobalt Sulphate Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

• Global Cobalt Sulphate Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

• Global Cobalt Sulphate Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Cobalt Sulphate Market are also profiled.

Cobalt Sulphate Market Scope: Inquire before buying






Cobalt Sulphate Market




Report Coverage
Details




Base Year:
2023
Forecast Period:
2024-2030




Historical Data:
2018 to 2023
Market Size in 2023:
US $ 1.18 Bn.




Forecast Period 2024 to 2030 CAGR:
6.2%
Market Size in 2030:
US $ 1.81 Bn.




 Segments Covered:
by Application
Superalloy
Hard facing/HSS & Other Alloy
Magnet
Hard Material
Catalyst
Color
Battery
Others






Cobalt Sulphate Market, by Region

• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)

Cobalt Sulphate Market Key Players

Freeport-McMoRan
Huayou Cobalt
Nicomet
Norilsk Nickel
Umicore
Zhangjiagang Huayi Chemical
Jiayuan Cobalt Holdings
Shepherd Chemical
Flexsys
Katanga
Josephine Mining
PJSC MMC Norilsk Nickel
Freeport Cobalt Oy
Nantong Xinwei Nickel & Cobalt Hightech Development Co., Ltd.
ALT Cobalt & Nickel Products (Dalian) C o., Ltd.
Jiayuan Cobalt Holdings Limited
INCASA SA
Cangzhou Tengyuan Cobalt Industry Co., Ltd.
Zhangjiagang Huayi Chemical Co., Ltd.
MMC Norilsk Nickel
Dalian Ruiyuan
Hebei Kingway

Frequently Asked Questions:

1. Which region has the largest share in Global Cobalt Sulphate Market?
Ans: Asia Pacific region held the highest share in 2023.

2. What is the growth rate of Global Cobalt Sulphate Market?
Ans: The Global Cobalt Sulphate Market is growing at a CAGR of 6.2% during forecasting period 2024-2030

3. What is scope of the Global Cobalt Sulphate Market report?
Ans: Global Cobalt Sulphate Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Cobalt Sulphate Market?
Ans: The important key players in the Global Cobalt Sulphate Market are – Freeport-McMoRan, Huayou Cobalt, Nicomet, Norilsk Nickel, Umicore, Zhangjiagang Huayi Chemical, Jiayuan Cobalt Holdings, Shepherd Chemical, Flexsys, Katanga, Josephine Mining, PJSC MMC Norilsk Nickel, Freeport Cobalt Oy, Nantong Xinwei Nickel & Cobalt Hightech Development Co., Ltd., ALT Cobalt & Nickel Products (Dalian) C o., Ltd., Jiayuan Cobalt Holdings Limited, INCASA SA, Cangzhou Tengyuan Cobalt Industry Co., Ltd., Zhangjiagang Huayi Chemical Co., Ltd., and MMC Norilsk Nickel.

5. What is the study period of this Market?
Ans: The Global Cobalt Sulphate Market is studied from 2023 to 2030 




1. Preface
1.1. Report Scope and Market Segmentation
1.2. Research Highlights
1.3. Research Objectives

2. Assumptions and Research Methodology
2.1. Report Assumptions
2.2. Abbreviations
2.3. Research Methodology
2.3.1. Secondary Research
2.3.1.1. Secondary data
2.3.1.2. Secondary Sources
2.3.2. Primary Research
2.3.2.1. Data from Primary Sources
2.3.2.2. Breakdown of Primary Sources

3. Executive Summary: Global Cobalt Sulphate Market, by Market Value (US$ Bn)

4. Market Overview
4.1. Introduction
4.2. Market Indicator
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. Porter’s Analysis
4.4. Value Chain Analysis
4.5. Market Risk Analysis
4.6. SWOT Analysis
4.7. Industry Trends in Global Cobalt Sulphate Market
4.8. Global Cobalt Sulphate Market Competitive Landscape
5. Supply Side and Demand Side Indicators

6. Global Cobalt Sulphate Market Analysis and Forecast
6.1. Global Cobalt Sulphate Market Size & Y-o-Y Growth Analysis
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Middle East & Africa
6.1.5. South America

7. Global Cobalt Sulphate Market Analysis and Forecast, by Application
7.1. Introduction and Definition
7.2. Key Findings
7.3. Global Cobalt Sulphate Market Value Share Analysis, by Application
7.4. Global Cobalt Sulphate Market Size (US$ Bn) Forecast, by Application
7.5. Global Cobalt Sulphate Market Analysis, by Application
7.6. Global Cobalt Sulphate Market Attractiveness Analysis, by Application

8. Global Cobalt Sulphate Market Analysis, by Region
8.1. Global Cobalt Sulphate Market Value Share Analysis, by Region
8.2. Global Cobalt Sulphate Market Size (US$ Bn) Forecast, by Region
8.3. Global Cobalt Sulphate Market Attractiveness Analysis, by Region

9. North America Cobalt Sulphate Market Analysis
9.1. Key Findings
9.2. North America Cobalt Sulphate Market Overview
9.3. North America Cobalt Sulphate Market Value Share Analysis, by Application
9.4. North America Cobalt Sulphate Market Forecast, by Application
9.4.1. Super alloy
9.4.2. Hard facing/HSS & Other Alloy
9.4.3. Magnet
9.4.4. Hard Material
9.4.5. Catalyst
9.4.6. Color
9.4.7. Battery
9.4.8. Others
9.5. North America Cobalt Sulphate Market Value Share Analysis, by Country
9.6. North America Cobalt Sulphate Market Forecast, by Country
9.6.1. U.S.
9.6.2. Canada
9.7. North America Cobalt Sulphate Market Analysis, by Country
9.8. U.S. Cobalt Sulphate Market Forecast, by Application
9.8.1. Super alloy
9.8.2. Hard facing/HSS & Other Alloy
9.8.3. Magnet
9.8.4. Hard Material
9.8.5. Catalyst
9.8.6. Color
9.8.7. Battery
9.8.8. Others
9.9. Canada Cobalt Sulphate Market Forecast, by Application
9.9.1. Super alloy
9.9.2. Hard facing/HSS & Other Alloy
9.9.3. Magnet
9.9.4. Hard Material
9.9.5. Catalyst
9.9.6. Color
9.9.7. Battery
9.9.8. Others
9.10. North America Cobalt Sulphate Market Attractiveness Analysis
9.10.1. By Application
9.11. PEST Analysis
9.12. Key Trends
9.13. Key Development

10. Europe Cobalt Sulphate Market Analysis
10.1. Key Findings
10.2. Europe Cobalt Sulphate Market Overview
10.3. Europe Cobalt Sulphate Market Value Share Analysis, by Application
10.4. Europe Cobalt Sulphate Market Forecast, by Application
10.4.1. Super alloy
10.4.2. Hard facing/HSS & Other Alloy
10.4.3. Magnet
10.4.4. Hard Material
10.4.5. Catalyst
10.4.6. Color
10.4.7. Battery
10.4.8. Others
10.5. Europe Cobalt Sulphate Market Value Share Analysis, by Country
10.6. Europe Cobalt Sulphate Market Forecast, by Country
10.6.1. Germany
10.6.2. U.K.
10.6.3. France
10.6.4. Italy
10.6.5. Spain
10.6.6. Rest of Europe
10.7. Europe Cobalt Sulphate Market Analysis, by Country
10.8. Germany Cobalt Sulphate Market Forecast, by Application
10.8.1. Super alloy
10.8.2. Hard facing/HSS & Other Alloy
10.8.3. Magnet
10.8.4. Hard Material
10.8.5. Catalyst
10.8.6. Color
10.8.7. Battery
10.8.8. Others
10.9. U.K. Cobalt Sulphate Market Forecast, by Application
10.9.1. Super alloy
10.9.2. Hard facing/HSS & Other Alloy
10.9.3. Magnet
10.9.4. Hard Material
10.9.5. Catalyst
10.9.6. Color
10.9.7. Battery
10.9.8. Others
10.10. France Cobalt Sulphate Market Forecast, by Application
10.10.1. Super alloy
10.10.2. Hard facing/HSS & Other Alloy
10.10.3. Magnet
10.10.4. Hard Material
10.10.5. Catalyst
10.10.6. Color
10.10.7. Battery
10.10.8. Others
10.11. Italy Cobalt Sulphate Market Forecast, by Application
10.11.1. Super alloy
10.11.2. Hard facing/HSS & Other Alloy
10.11.3. Magnet
10.11.4. Hard Material
10.11.5. Catalyst
10.11.6. Color
10.11.7. Battery
10.11.8. Others
10.12. Spain Cobalt Sulphate Market Forecast, by Application
10.12.1. Super alloy
10.12.2. Hard facing/HSS & Other Alloy
10.12.3. Magnet
10.12.4. Hard Material
10.12.5. Catalyst
10.12.6. Color
10.12.7. Battery
10.12.8. Others
10.13. Rest of Europe Cobalt Sulphate Market Forecast, by Application
10.13.1. Super alloy
10.13.2. Hard facing/HSS & Other Alloy
10.13.3. Magnet
10.13.4. Hard Material
10.13.5. Catalyst
10.13.6. Color
10.13.7. Battery
10.13.8. Others
10.14. Europe Cobalt Sulphate Market Attractiveness Analysis
10.14.1. By Application
10.15. PEST Analysis
10.16. Key Trends
10.17. Key Development

11. Asia Pacific Cobalt Sulphate Market Analysis
11.1. Key Findings
11.2. Asia Pacific Cobalt Sulphate Market Overview
11.3. Asia Pacific Cobalt Sulphate Market Value Share Analysis, by Application
11.4. Asia Pacific Cobalt Sulphate Market Forecast, by Application
11.4.1. Super alloy
11.4.2. Hard facing/HSS & Other Alloy
11.4.3. Magnet
11.4.4. Hard Material
11.4.5. Catalyst
11.4.6. Color
11.4.7. Battery
11.4.8. Others
11.5. Asia Pacific Cobalt Sulphate Market Value Share Analysis, by Country
11.6. Asia Pacific Cobalt Sulphate Market Forecast, by Country
11.6.1. China
11.6.2. India
11.6.3. Japan
11.6.4. ASEAN
11.6.5. Rest of Asia Pacific
11.7. Asia Pacific Cobalt Sulphate Market Analysis, by Country
11.8. China Cobalt Sulphate Market Forecast, by Application
11.8.1. Super alloy
11.8.2. Hard facing/HSS & Other Alloy
11.8.3. Magnet
11.8.4. Hard Material
11.8.5. Catalyst
11.8.6. Color
11.8.7. Battery
11.8.8. Others
11.9. India Cobalt Sulphate Market Forecast, by Application
11.9.1. Super alloy
11.9.2. Hard facing/HSS & Other Alloy
11.9.3. Magnet
11.9.4. Hard Material
11.9.5. Catalyst
11.9.6. Color
11.9.7. Battery
11.9.8. Others
11.10. Japan Cobalt Sulphate Market Forecast, by Application
11.10.1. Super alloy
11.10.2. Hard facing/HSS & Other Alloy
11.10.3. Magnet
11.10.4. Hard Material
11.10.5. Catalyst
11.10.6. Color
11.10.7. Battery
11.10.8. Others
11.11. ASEAN Cobalt Sulphate Market Forecast, by Application
11.11.1. Super alloy
11.11.2. Hard facing/HSS & Other Alloy
11.11.3. Magnet
11.11.4. Hard Material
11.11.5. Catalyst
11.11.6. Color
11.11.7. Battery
11.11.8. Others
11.12. Rest of Asia Pacific Cobalt Sulphate Market Forecast, by Application
11.12.1. Super alloy
11.12.2. Hard facing/HSS & Other Alloy
11.12.3. Magnet
11.12.4. Hard Material
11.12.5. Catalyst
11.12.6. Color
11.12.7. Battery
11.12.8. Others
11.13. Asia Pacific Cobalt Sulphate Market Attractiveness Analysis
11.13.1. By Application
11.14. PEST Analysis
11.15. Key Trends
11.16. Key Development

12. Middle East & Africa Cobalt Sulphate Market Analysis
12.1. Key Findings
12.2. Middle East & Africa Cobalt Sulphate Market Overview
12.3. Middle East & Africa Cobalt Sulphate Market Value Share Analysis, by Application
12.4. Middle East & Africa Cobalt Sulphate Market Forecast, by Application
12.4.1. Super alloy
12.4.2. Hard facing/HSS & Other Alloy
12.4.3. Magnet
12.4.4. Hard Material
12.4.5. Catalyst
12.4.6. Color
12.4.7. Battery
12.4.8. Others
12.5. Middle East & Africa Cobalt Sulphate Market Value Share Analysis, by Country
12.6. Middle East & Africa Cobalt Sulphate Market Forecast, by Country
12.6.1. GCC
12.6.2. South Africa
12.6.3. Rest of Middle East & Africa
12.7. Middle East & Africa Cobalt Sulphate Market Analysis, by Country
12.8. GCC Cobalt Sulphate Market Forecast, by Application
12.8.1. Super alloy
12.8.2. Hard facing/HSS & Other Alloy
12.8.3. Magnet
12.8.4. Hard Material
12.8.5. Catalyst
12.8.6. Color
12.8.7. Battery
12.8.8. Others
12.9. South Africa Cobalt Sulphate Market Forecast, by Application
12.9.1. Super alloy
12.9.2. Hard facing/HSS & Other Alloy
12.9.3. Magnet
12.9.4. Hard Material
12.9.5. Catalyst
12.9.6. Color
12.9.7. Battery
12.9.8. Others
12.10. Rest of Middle East & Africa Cobalt Sulphate Market Forecast, by Application
12.10.1. Super alloy
12.10.2. Hard facing/HSS & Other Alloy
12.10.3. Magnet
12.10.4. Hard Material
12.10.5. Catalyst
12.10.6. Color
12.10.7. Battery
12.10.8. Others
12.11. Middle East & Africa Cobalt Sulphate Market Attractiveness Analysis
12.11.1. By Application
12.12. PEST Analysis
12.13. Key Trends
12.14. Key Development

13. South America Cobalt Sulphate Market Analysis
13.1. Key Findings
13.2. South America Cobalt Sulphate Market Overview
13.3. South America Cobalt Sulphate Market Value Share Analysis, by Application
13.4. South America Cobalt Sulphate Market Forecast, by Application
13.4.1. Super alloy
13.4.2. Hard facing/HSS & Other Alloy
13.4.3. Magnet
13.4.4. Hard Material
13.4.5. Catalyst
13.4.6. Color
13.4.7. Battery
13.4.8. Others
13.5. South America Cobalt Sulphate Market Value Share Analysis, by Country
13.6. South America Cobalt Sulphate Market Forecast, by Country
13.6.1. Brazil
13.6.2. Mexico
13.6.3. Rest of South America
13.7. South America Cobalt Sulphate Market Analysis, by Country
13.8. Brazil Cobalt Sulphate Market Forecast, by Application
13.8.1. Super alloy
13.8.2. Hard facing/HSS & Other Alloy
13.8.3. Magnet
13.8.4. Hard Material
13.8.5. Catalyst
13.8.6. Color
13.8.7. Battery
13.8.8. Others
13.9. Mexico Cobalt Sulphate Market Forecast, by Application
13.9.1. Super alloy
13.9.2. Hard facing/HSS & Other Alloy
13.9.3. Magnet
13.9.4. Hard Material
13.9.5. Catalyst
13.9.6. Color
13.9.7. Battery
13.9.8. Others
13.10. Rest of South America Cobalt Sulphate Market Forecast, by Application
13.10.1. Super alloy
13.10.2. Hard facing/HSS & Other Alloy
13.10.3. Magnet
13.10.4. Hard Material
13.10.5. Catalyst
13.10.6. Color
13.10.7. Battery
13.10.8. Others
13.11. South America Cobalt Sulphate Market Attractiveness Analysis
13.11.1. By Application
13.12. PEST Analysis
13.13. Key Trends
13.14. Key Development

14. Company Profiles
14.1. Market Share Analysis, by Company
14.2. Competition Matrix
14.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment
14.2.2. New Product Launches and Product Enhancements
14.2.3. Market Consolidation
14.2.3.1. M&A by Regions, Investment and Applications
14.2.3.2. M&A Key Players, Forward Integration and Backward
Integration
14.3. Company Profiles: Key Players
14.3.1. Freeport-McMoRan
14.3.1.1. Company Overview
14.3.1.2. Financial Overview
14.3.1.3. Product Portfolio
14.3.1.4. Business Strategy
14.3.1.5. Recent Developments
14.3.1.6. Company Footprint
14.3.2. Huayou Cobalt
14.3.3. Nicomet
14.3.4. Norilsk Nickel
14.3.5. Umicore
14.3.6. Zhangjiagang Huayi Chemical
14.3.7. Jiayuan Cobalt Holdings
14.3.8. Shepherd Chemical
14.3.9. Flexsys
14.3.10. Katanga
14.3.11. Josephine Mining
14.3.12. PJSC MMC Norilsk Nickel
14.3.13. Freeport Cobalt Oy
14.3.14. Nantong Xinwei Nickel & Cobalt Hightech Development Co., Ltd.
14.3.15.ALT Cobalt & Nickel Products (Dalian) C o., Ltd.
14.3.16.Jiayuan Cobalt Holdings Limited
14.3.17.INCASA SA
14.3.18. Cangzhou Tengyuan Cobalt Industry Co., Ltd.
14.3.19.Zhangjiagang Huayi Chemical Co., Ltd.
14.3.20.MMC Norilsk Nickel
14.3.21. Dalian Ruiyuan
14.3.22. Hebei Kingway

15. Primary Key Insights
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