Cobalt Sulfate Market 2022-2031
New Study Reports “Cobalt Sulfate Market 2022 Global Analysis By Key Regions, Production, Consumption, Revenue, Applications, Growth and Forecasts 2031” has been Added on PersistenceMarketResearch.
Report Details:
This report provides in depth study of “Cobalt Sulfate Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Cobalt Sulfate Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
The global cobalt sulfate market is expected to accelerate at a CAGR of 8.2% over the forecast period of 2022-2031, and be valued above US$ 7.8 Bn.
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Growth in demand for cobalt sulfate is due in major part to rising sales of electric vehicles in regions such as East Asia, North America, and Europe, as it is used in a big way in the batteries of EVs. Countries in Asia Pacific such as China, India, and ASEAN, among others, are expected to focus on supporting the manufacturing of vehicle batteries.
With a growing global population, demand for food products is also rapidly rising. As such, soil additives are being highly sought-after to increase crop yield through high soil nutrition. Growing need for agricultural and food products is set to surge the demand for soil nutrition products and animal feed additives, thus stimulating demand for cobalt sulfate in the process.
Key Players:
The report has profiled some of the important players prevalent in the global like – Umicore, PJSC MMC Norilsk Nickel, Freeport Cobalt Oy, Nicomet Industries Limited, Huayou Cobalt Co. Ltd., Nantong Xinwei Nickel & Cobalt Hightech Development Co., Ltd., Dalian Alt Cobalt & Nickel New Materials Manufacturing Co. Ltd, Jiayuan Cobalt Holdings Limited, INCASA SA, Ganzhou Tengyuan Cobalt New Material Co. Ltd, and Zhangjiagang Huayi Chemical Co., Ltd and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Cobalt Sulfate Market.
Key Takeaways from Market Study
- China is one of the largest markets for cobalt sulfate owing to the strong presence of key end-use sectors in the country.
- Battery grade cobalt sulfate is most the widely used type, while demand for industrial and agricultural grades is projected to grow at a fast pace.
- Demand for cobalt-based agriculture feed and soil additives is expected to witness substantial growth over the forecast years of 2021 to 2031.
“Demand for cobalt sulfate is estimated to be significantly driven by strong growth in EV sales and rising demand for lithium-ion batteries across the globe,” says a Persistence Market Research analyst.
Conclusion
Growth in electric vehicle sales, rising demand for batteries, and favorable governmental regulations, the global cobalt sulfate market is expected to witness substantial growth over the next ten years. However, limited availability of raw materials and fluctuations in pricing their raw materials are major concerns for market players.
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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Cobalt Sulfate Market Manufacturers
Cobalt Sulfate Market Distributors/Traders/Wholesalers
Cobalt Sulfate Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Cobalt Sulfate Market – Report Highlights
- A detailed overview of parent market of Cobalt Sulfate Market
- Changing Cobalt Sulfate Market dynamics in the industry
- In-depth segmentation of the Cobalt Sulfate Market
- Historical, current, and projected Cobalt Sulfate Market size regarding volume and value
- Recent industry trends and developments in Cobalt Sulfate Market
- Competitive landscape of the Cobalt Sulfate Market
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Cobalt Sulfate Market performance
- Must-have information for Cobalt Sulfate Market players to sustain and enhance their market footprint
Key Questions Answered in the Cobalt Sulfate Market Report
How is the Cobalt Sulfate Market expected to grow over the projected period?
What direction is the Cobalt Sulfate Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Cobalt Sulfate Market in future?
What are the key market drivers in the Cobalt Sulfate Market?
What are significant opportunities and improvement areas for Cobalt Sulfate Market manufacturers?
What are the key developments and trends taking over the Cobalt Sulfate Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Cobalt Sulfate Market?
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