Market Overview:
The global battery grade cobalt sulfate market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles and batteries across the globe. In addition, the growing awareness about environment-friendly and sustainable practices is also fueling the demand for recycled battery grade cobalt sulfate. Based on type, virgin material accounted for a larger share of the global battery grade cobalt sulfate market in 2017. However, recycled material is expected to grow at a higher CAGR during the forecast period as it is more environment-friendly and economical as compared to virgin material. Based on application, power battery materials accounted for a major share of the global battery grade cobalt sulfate market in 2017.
Product Definition:
A battery grade cobalt sulfate is a chemical compound that is used in the manufacturing of batteries. It is a white powder that dissolves in water.
Virgin Material:
The global battery market is witnessing a change in trend with growing demand for Electric Vehicles (EVs) and hybrid electric vehicles. The primary reason behind this shift is the depletion of conventional sources such as crude oil and natural gas.
Growing environmental concerns owing to high carbon emissions from conventional batteries have resulted in increased focus on alternative sources such as lithium, sodium, potassium, lead acid and others which are non-toxic in nature.
Recycled Material:
Recycled material is used in the battery industry to manufacture lithium-ion batteries. Lithium cobalt oxide (LCO) is a key raw material used in the production of these batteries. The primary reason for using recycled materials as a source for LCO supply is due to their low cost compared to virgin materials and their abundance globally.
Application Insights:
The power battery materials application segment led the global market in 2017 and is projected to witness significant growth over the forecast period. This can be attributed to growing demand for automotive, consumer electronics and renewable energy storage products. Power batteries are used in various applications including electric vehicles, grid storage systems, UPS systems and emergency lighting. The increasing number of EVs on account of government incentives is expected to drive the demand for high-grade cobalt sulfate during the forecast period.
Increasing use of recycled material in manufacturing EV batteries is expected to reduce production costs which will result in increased penetration rate globally over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The presence of key battery manufacturers such as Panasonic, LG Chem, Samsung SDI, and others have resulted in high production capacity of batteries across this region. Furthermore, favorable government policies promoting investments for manufacturing electric vehicles are anticipated to drive demand for these products which will further propel product consumption over the next eight years.
North America emerged as a significant consumer due to growing demand from portable devices including smartphones and laptops along with increasing renewable energy usage across this region. Growing preference for electric vehicles is also likely to augment regional growth over the coming years on account of rising lithium-ion battery production capacities by companies such as Tesla Motors Inc., Panasonic Corporation, and others coupled with rising sales of EVs in U.S.
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 20% during the forecast period. This will lead to an increase in the demand for battery grade cobalt sulfate, as it is used in the manufacturing of lithium-ion batteries.
- Growing investment in renewable energy: Governments and private investors are increasingly investing in renewable energy sources such as solar and wind power. This will lead to an increase in the demand for battery grade cobalt sulfate, as it is used in the manufacturing of solar panels and wind turbines.
- Rising disposable income: The rising disposable income of consumers across emerging markets is leading to an increase in their spending on luxury goods such as electric vehicles and solar panels. This will result in an increased demand for battery grade cobalt sulfate from these markets.
Scope Of The Report
Report Attributes
Report Details
Report Title
Battery Grade Cobalt Sulfate Market Research Report
By Type
Virgin Material, Recycled Material
By Application
Power Battery Materials, Plating, Other
By Companies
Huayou Cobalt, GME, Ganzhou Tengyuan Cobalt Industrial Co., Ltd, Jiayuan Cobalt Holdings, Jilin Jien Nickel Industry Co., Ltd., Jinchuan Group Co., Ltd., Nickel & Cobalt Hightech Development, Nicomet Industries Limited, MMC Norilsk Nickel, Umicore, Zhangjiagang Huayi Chemical Co. Ltd., Dalian Ruiyuan, Hebei Kingway, Shanghai Qingong, Nantong Xinwei, Freeport Cobalt
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Battery Grade Cobalt Sulfate Market Report Segments:
The global Battery Grade Cobalt Sulfate market is segmented on the basis of:
Types
Virgin Material, Recycled Material
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power Battery Materials, Plating, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Huayou Cobalt
- GME
- Ganzhou Tengyuan Cobalt Industrial Co., Ltd
- Jiayuan Cobalt Holdings
- Jilin Jien Nickel Industry Co., Ltd.
- Jinchuan Group Co., Ltd.
- Nickel & Cobalt Hightech Development
- Nicomet Industries Limited
- MMC Norilsk Nickel
- Umicore
- Zhangjiagang Huayi Chemical Co. Ltd.
- Dalian Ruiyuan
- Hebei Kingway
- Shanghai Qingong
- Nantong Xinwei
- Freeport Cobalt
Highlights of The Battery Grade Cobalt Sulfate Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Virgin Material
- Recycled Material
- By Application:
- Power Battery Materials
- Plating
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Battery Grade Cobalt Sulfate Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Battery grade cobalt sulfate is a type of cobalt compound that is used in the production of rechargeable batteries. It is a white to off-white powder that can be easily dispersed in water or other liquids.
Some of the major companies in the battery grade cobalt sulfate market are Huayou Cobalt, GME, Ganzhou Tengyuan Cobalt Industrial Co., Ltd, Jiayuan Cobalt Holdings, Jilin Jien Nickel Industry Co., Ltd., Jinchuan Group Co., Ltd., Nickel & Cobalt Hightech Development, Nicomet Industries Limited, MMC Norilsk Nickel, Umicore, Zhangjiagang Huayi Chemical Co. Ltd., Dalian Ruiyuan, Hebei Kingway, Shanghai Qingong, Nantong Xinwei, Freeport Cobalt.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Battery Grade Cobalt Sulfate Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Battery Grade Cobalt Sulfate Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Battery Grade Cobalt Sulfate Market - Supply Chain
4.5. Global Battery Grade Cobalt Sulfate Market Forecast
4.5.1. Battery Grade Cobalt Sulfate Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Battery Grade Cobalt Sulfate Market Size (000 Units) and Y-o-Y Growth
4.5.3. Battery Grade Cobalt Sulfate Market Absolute $ Opportunity
5. Global Battery Grade Cobalt Sulfate Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Type
5.3.1. Virgin Material
5.3.2. Recycled Material
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Battery Grade Cobalt Sulfate Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Application
6.3.1. Power Battery Materials
6.3.2. Plating
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Battery Grade Cobalt Sulfate Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Battery Grade Cobalt Sulfate Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Battery Grade Cobalt Sulfate Demand Share Forecast, 2019-2026
9. North America Battery Grade Cobalt Sulfate Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Application
9.4.1. Power Battery Materials
9.4.2. Plating
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Type
9.7.1. Virgin Material
9.7.2. Recycled Material
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Battery Grade Cobalt Sulfate Demand Share Forecast, 2019-2026
10. Latin America Battery Grade Cobalt Sulfate Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Application
10.4.1. Power Battery Materials
10.4.2. Plating
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Type
10.7.1. Virgin Material
10.7.2. Recycled Material
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Battery Grade Cobalt Sulfate Demand Share Forecast, 2019-2026
11. Europe Battery Grade Cobalt Sulfate Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Application
11.4.1. Power Battery Materials
11.4.2. Plating
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Type
11.7.1. Virgin Material
11.7.2. Recycled Material
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attrctiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Battery Grade Cobalt Sulfate Demand Share, 2019-2026
12. Asia Pacific Battery Grade Cobalt Sulfate Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Application
12.4.1. Power Battery Materials
12.4.2. Plating
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Type
12.7.1. Virgin Material
12.7.2. Recycled Material
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Battery Grade Cobalt Sulfate Demand Share, 2019-2026
13. Middle East & Africa Battery Grade Cobalt Sulfate Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Application
13.4.1. Power Battery Materials
13.4.2. Plating
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Battery Grade Cobalt Sulfate Market Size and Volume Forecast by Type
13.7.1. Virgin Material
13.7.2. Recycled Material
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Battery Grade Cobalt Sulfate Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Battery Grade Cobalt Sulfate Market: Market Share Analysis
14.2. Battery Grade Cobalt Sulfate Distributors and Customers
14.3. Battery Grade Cobalt Sulfate Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Huayou Cobalt
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. GME
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Ganzhou Tengyuan Cobalt Industrial Co., Ltd
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Jiayuan Cobalt Holdings
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Jilin Jien Nickel Industry Co., Ltd.
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Jinchuan Group Co., Ltd.
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Nickel & Cobalt Hightech Development
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Nicomet Industries Limited
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. MMC Norilsk Nickel
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Umicore
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Zhangjiagang Huayi Chemical Co. Ltd.
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Dalian Ruiyuan
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Hebei Kingway
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Shanghai Qingong
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Nantong Xinwei
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Freeport Cobalt
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
