Cobalt Sulfate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026


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Global Cobalt Sulfate Market: Overview

Cobalt sulfate is defined as any of the inorganic compounds with the formula CoSO4(H2O)x. Cobalt sulfate usually refers to the hydrate CoSO4.7H2O, which is one of the most commonly available salts of cobalt. Cobalt (II) sulfate heptahydrate appears as a red monoclinic crystal that liquefies at around 100°C and becomes anhydrous at 250°C. It is soluble in water, slightly soluble in ethanol, and especially soluble in methanol. The salts are paramagnetic in nature. Its formation takes place by the reaction of metallic cobalt, its oxide, hydroxide, or carbonate with aqueous sulfuric acid. In hydrated form, cobalt sulfate is used in the preparation of pigments. It is also used in the manufacture of other cobalt salts. Cobalt sulfate pigments are also employed in porcelain and glass. Cobalt (II) sulfate has wide applications in storage batteries and electroplating baths, sympathetic inks, and as additive to soils and animal feeds. Cobalt sulfate is obtained by the treatment of cobalt oxide with sulfuric acid for such purposes.

Global Cobalt Sulfate Market: Key Segments

Development of electric and hybrid vehicles is one of the major factors propelling the cobalt sulfate market. Rise in use of Li-ion batteries in vehicles is also augmenting the cobalt sulfate market. On the other hand, rise in pressure of extracting cobalt with limited raw materials is one of the key factors hampering the cobalt sulfate market. Furthermore, surge in pricing owing to democratic imbalance in most of the major economies is acting as a hurdle in the growth of the cobalt sulfate market.

Based on product, the cobalt sulfate market can be segmented into powder form and solution form.

In terms of end-use industry, the cobalt sulfate market can be divided into coating, energy, chemical, super alloy, hard facing/HSS & other alloy, color (glass, enamel, plastic, ceramic, artistic color, fabric, tire adhesive, soap, and drier), battery, and others (feedstuff, biotech, anodizing, recording media, and electrolysis).

Based on geography, the cobalt sulfate market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Led by China, Asia Pacific is the leading consumer of cobalt sulfate. The cobalt sulfate market in Asia Pacific is followed by that in Europe owing to the strong automotive base.

Global Cobalt Sulfate Market: Key Players

Key players operating in the cobalt sulfate market include Freeport Cobalt Oy, Ganzhou Tengyuan Cobalt Industrial Company Limited, Jiayuan Cobalt Holdings Limited, Jilin Jien Nickel Industry Company Limited, Jinchuan Group Company Limited, Nantong Xinwei Nickel & Cobalt Hightech Development Company Limited, Nicomet Industries Limited, Umicore, and Zhangjiagang Huayi Chemical Company Limited.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

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