Global Cobalt Sulfate Market Analysis Report 2022Posted by sandeep gade on August 29th, 2022 The global cobalt sulfate market is expected to accelerate at a CAGR of 8.2% over the forecast period of 2021-2031, and be valued above US$ 7.8 Bn. 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. Request For Free Sample Report of Cobalt Sulfate Market @ https://www.persistencemarketresearch.com/samples/4418 Key Takeaways from Market Study
“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. For critical insights on this market, request for customization here@ https://www.persistencemarketresearch.com/request-customization/4418 Competitive Landscape According to the market research analysis, 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 are identified as key cobalt sulfate manufacturers. Market players are involved in strengthening the supply chain and entering into long-term strategic partnerships with raw material suppliers for continuous supply to counter fluctuations in the pricing of products. 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. Buy The Complete Report to read the analysed strategies adopted by the top vendors either to retain or gain market share@ https://www.persistencemarketresearch.com/checkout/4418 About Us Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs. Contact Us: Persistence Market Research Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States U.S. Ph. – +1-646-568-7751 USA-Canada Toll-free – +1 800-961-0353 Like it? Share it! More by this author |