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.
Market Analysis and Insights: Global Cobalt Sulphate Market
Due to the COVID-19 pandemic, the global Cobalt Sulphate market size is estimated to be worth US$ 777.4 million in 2022 and is forecast to a readjusted size of US$ 950.1 million by 2028 with a CAGR of 3.4% during the review period. Fully considering the economic change by this health crisis, Battery accounting for % of the Cobalt Sulphate global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Super Alloy segment is altered to an % CAGR throughout this forecast period.
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.
In terms of production side, this report researches the Cobalt Sulphate capacity, production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.
In terms of sales side, this report focuses on the sales of Cobalt Sulphate by region (region level and country level), by company, by Type and by Application. from 2017 to 2022 and forecast to 2028.
Global Cobalt Sulphate Scope and Segment
Cobalt Sulphate market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Cobalt Sulphate market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2017-2028.
Segment by Type
Battery
Pigment
Segment by Application
Super Alloy
Hard Facing/ HSS & Other Alloy
Magnet
Hard Material
Catalyst
Color
Battery
Others
By Company
Freeport Cobalt Oy
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
Nantong Xinwei
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E