openPR Logo
Press release

Cobalt Sulfate Market is expected to reach a valuation of US$ 9,523.5 Mn by the end of 2025 by Umicore, Freeport Cobalt Oy, Huayou Cobalt Co., Ltd., Jiayuan Cobalt Holdings Limited, INCASA SA

Cobalt Sulfate Market is expected to reach a valuation of US$

Persistence Market Research (PMR) has published a new research report on the cobalt sulfate market titled “Cobalt Sulfate Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025.” The report states that the growing shift from the cobalt-rich NMC111 to the NMC811 cathode configuration is moderately driven by the higher energy density of the 811 and another core concern is the limited cobalt supply. According to the USGS, around 123 KT of cobalt was mined in 2016 and it was projected that there will be insufficient supply to meet the required demands in 2017. Currently, over one-fourth of the cobalt use is in several chemical applications, including material used for EV batteries. Its use is expected to grow rapidly, with demand likely outstripping supply.

Henceforth, this is expected to result in a rapid increase in price. Supply constraints are likely to persist in the coming years as approximately 60% of cobalt production comes from the Democratic Republic of Congo, which presents both operational as well as reputational risk for mining companies. Furthermore, it is mostly produced as a by-product of copper and nickel.

Request for Report Sample@ https://www.persistencemarketresearch.com/samples/4418

In order to address these issues, companies operating in the market are pulling up their socks and are developing advanced products in order to balance the consumption of cobalt. For instance, in January 2017, Umicore acquired the Nickel Manganese Cobalt (NMC) battery material patents from 3M. The NMC cathode materials covered by the different patent families offer an exceptional balance of energy, power, safety features, and low cost. Companies are also getting into partnerships with leading firms in order to acquire their technology, such as in November 2017, Umicore and Voxdale announced a partnership with Mahindra Racing in the Formula E Championship.

With the help of this agreement, Umicore and Mahindra Racing showed that top electric car performance can be achieved using recycled materials for battery storage. Some of the other companies operating in the cobalt sulfate market are PJSC MMC Norilsk Nickel, Freeport Cobalt Oy, Huayou Cobalt Co., Ltd., ALT Cobalt & Nickel Products (Dalian) Co., Ltd., and INCASA SA.

1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. Analysis and Recommendations
1.4. Wheel of Fortune

2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
2.3. Parent Market Overview

3. Market Background
3.1. Macro-Economic Factors
3.2. Cobalt Supply Overview, 2016
3.3. Global Cobalt Production Overview, 2016
3.4. Global Cobalt Production by Manufacturers, 2016
3.5. Global Electric Vehicle Market Outlook, 2016
3.6. Global Electric Vehicle Battery Market Outlook and Forecast
3.7. Global Electric Vehicle Battery Market Volume Projections
3.8. Global Lithium-Ion Battery Production Overview, 2016-2020
3.9. Introduction to Lithium-Ion Battery Technologies
3.10. Cobalt Composition in Li-ion Batteries
3.11. Market Dynamics
3.11.1. Drivers
3.11.2. Restraints
3.11.3. Trends
3.12. Cobalt Sulfate Market: Current Scenario

4. Market Forecast
4.1. Market Volume Projections
4.2. Market Size Projections
4.2.1. Y-o-Y Projections
4.2.2. Absolute $ Opportunity Analysis
4.3. Supply-Demand Analysis
4.4. Value Chain Analysis
4.5. Historical Cobalt Price Overview
4.6. Reasons for Surging Prices of Cobalt Sulfate
4.7. Forecast Factors
4.8. Key Developments

5. Global Cobalt Sulfate Market Analysis By Grade
According to the report, the global cobalt sulfate market is expected to exhibit a CAGR of 8.0% from 2017 to 2025. The market was worth US$ 2,745.9 Mn in 2017 and is expected to reach a valuation of US$ 9,523.5 Mn by the end of 2025.

Request for Report Table of Content (TOC) @ https://www.persistencemarketresearch.com/methodology/4418

Government Subsidies and Initiatives to Accelerate Sales
Several governments worldwide are focusing on the development of incentives and subsidies to promote the sales of electric vehicles as well as batteries, which is likely to push the demand for cobalt sulfate in the coming years. Governments of various economies in Europe are offering attractive incentives to customers who choose to purchase electric vehicles over conventional IC engine vehicles. This has promoted an increase in sales of electric powered vehicles, especially in Switzerland, Norway, etc. Further, consumers are exempted from vehicle fees, such as purchase taxes and VAT, which sometimes make up for 25% of the total cost.

Electric vehicle batteries are gaining traction in the global market and with it, the demand for cobalt sulfate is growing. Moreover, in the last couple of years, chemical applications have accounted for a significant share in total cobalt demand across the globe. Likewise, the demand for cobalt is expected to be driven by increasing production of lithium ion batteries for electric storage systems and electric vehicles.

Limited Raw Material Availability to Hinder Market Growth
Declining copper and nickel prices have challenged the supply of cobalt. Cobalt is primarily produced as a by-product in copper and nickel mines. Nevertheless, only ~2.0% of the global supply is from primary cobalt mines. Cobalt supply growth is largely dependent on the new copper and nickel mines as both the metals have been witnessing significant decline in prices since 2011.

ABOUT US:
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

CONTACT:
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sumit@tmr.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Cobalt Sulfate Market is expected to reach a valuation of US$ 9,523.5 Mn by the end of 2025 by Umicore, Freeport Cobalt Oy, Huayou Cobalt Co., Ltd., Jiayuan Cobalt Holdings Limited, INCASA SA here

News-ID: 1761315 • Views:

More Releases from Persistence Market Research

Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Persistence Market Research
Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by Sustainability and Supply Chain Efficiency
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Growth - Persistence Market Research
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Healthcare Demand
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained

All 5 Releases


More Releases for Cobalt

Cobalt Powder Market Growth Opportunities And Forecast to 2033 Hanrui Cobalt, Um …
Cobalt powder is a fine, metallic powder derived from the element cobalt, which is a transition metal. It is commonly used in various industrial applications, such as the production of high-performance alloys, magnets, and catalysts. Cobalt powder is known for its ability to withstand high temperatures and corrosion, making it crucial in aerospace, electronics, and battery technologies. It is also used in the manufacturing of rechargeable batteries, particularly in lithium-ion
Global Cobalt Hydroxide Market 2024 Targets Impressive Growth of 8.97% CAGR (202 …
The global Cobalt Hydroxide Market size reached 163.84 USD Million in 2023. Looking forward, MarketsGlob expects the market to reach 325.74 USD Million by 2031, exhibiting a growth rate (CAGR) of 8.97% during 2024-2031. The worldwide market research report for Cobalt Hydroxide presents a thorough examination of the market environment. This includes a detailed evaluation of prominent industry leaders, pricing patterns, as well as the broader factors influencing the market, both
Cobalt Powder Market 2023 Leading Competitors - Umicore, Freeport Cobalt, Hanrui …
Global Cobalt Powder Market prepared by MarketsandResearch.biz features a detailed overview of different industry segments, including influential leading players and their visions, to assist readers in evaluating growth opportunities. The report provides many business organizations with the required information to proliferate their business' reach within the global Cobalt Powder market. The report is the collection of all the market-related details right from the finances, regional development to the future market
Cobalt Powder Market Upcoming Trends, Top Company Analysis and Forecast by 2028 …
The Cobalt Powder global market is thoroughly researched in this report, noting important aspects like market competition, global and regional growth, market segmentation and market structure. The report author analysts have estimated the size of the global market in terms of value and volume using the latest research tools and techniques. The report also includes estimates for market share, revenue, production, consumption, gross profit margin, CAGR, and other key factors.
Cobalt Hydroxide Oxide (CAS 12016-80-7) Market Actual Need Outlook, Supportive J …
Report Ocean releases a new report about Global Cobalt Hydroxide Oxide (CAS 12016-80-7) Market analysis and insights, which aims to provide deep insight into numerous factors that are vital to the growth of this industry. The information presented in this report will chart trends in the market, analyst opinions and views, competitive landscapes, and key regions from a systematic perspective. A report on the Global Cobalt Hydroxide Oxide (CAS 12016-80-7) Market
Cobalt Sulphate Market to see 1.8% CAGR till 2023 | Freeport Cobalt Oy, Ganzhou …
The research offers a detailed segmentation of the global sulphate market. Key segments analyzed in the research include type, process, shell material, application, end user and geography. Extensive analysis of sales, revenue, growth rate, and market share of each type, process, shell material, application and end user for the historic period and the forecast period is offered with the help of tables. The market is analyzed based on regions and competitive