The North America Cobalt Sulphate Market would witness market growth of 5.5% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 215.2 Hundred Tonnes, showcasing a growth of 4.7% (2019-2022).
The automotive industry has been a key driver for adopting this compound. Electric vehicles, which rely heavily on lithium-ion batteries, have become more mainstream, and this compound is a key ingredient in the cathodes of these batteries. As an additional measure to promote the adoption of electric vehicles, governments are implementing policies that augment the need for this compound.
Additionally, this compound is also utilized in the agricultural sector as a micronutrient in animal feed and fertilizers. Cobalt is an essential element for ruminant animals, playing a crucial role in their metabolism. As agriculture faces the challenge of meeting the growing food demand, this compound as a micronutrient is expected to continue.
As per the data from the International Trade Administration, in 2022, the installed capacity of Mexico’s clean energy plants (renewable and non-renewable) was 31,369 MW, which represented an increase of 1.81 percent in comparison to the previous year, when the installed capacity of clean energy accounted for 30,812 MW. The installed renewable energy capacity mainly came from hydro, wind, and photovoltaic solar PV plants. Additionally, as per the article titled New Motor Vehicle Registrations, third quarter 2022, released by Statistics Canada, overall, 34,313 new zero-emission vehicles (ZEVs) were registered in the third quarter of 2022, comprising 8.7% of total new motor vehicle registrations. The number of new ZEVs registered continued to increase, up 43.2% year over year. Thus, North America’s growing renewable energy sector and electric vehicle sales will propel the demand.
The US market dominated the North America Cobalt Sulphate Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $296.8 million by 2030. The Canada market is experiencing a CAGR of 7.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.9% during (2023 - 2030).
Free Valuable Insights: The Cobalt Sulphate Market is Predict to reach $1.8 Billion by 2030, at a CAGR of 6.1%
Based on Application, the market is segmented into Batteries, Alloys, Magnets, Hard Materials, Catalyst, Inks & Dyes and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- JERVOIS GLOBAL LIMITED
- Shepherd Chemical Company
- Nantong Xinwei Nickel & Cobalt Hightech Development Co.,Ltd.
- Freeport-McMoRan Inc.
- Umicore NV-SA
- Hunter Chemical, LLC
- Merck KGaA
- Incasa S.A
North America Cobalt Sulphate Market Report Segmentation
By Application (Volume, Hundred Tonnes, USD Billion, 2019-2030)
- Batteries
- Alloys
- Magnets
- Hard Materials
- Catalyst
- Inks & Dyes
- Others
By Country (Volume, Hundred Tonnes, USD Billion, 2019-2030)
- US
- Canada
- Mexico
- Rest of North America
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Cobalt Sulphate Market, by Application
1.4.2 North America Cobalt Sulphate Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. North America Cobalt Sulphate Market by Application
4.1 North America Batteries Market by Country
4.2 North America Alloys Market by Country
4.3 North America Magnets Market by Country
4.4 North America Hard Materials Market by Country
4.5 North America Catalyst Market by Country
4.6 North America Inks & Dyes Market by Country
4.7 North America Others Market by Country
Chapter 5. North America Cobalt Sulphate Market by Country
5.1 US Cobalt Sulphate Market
5.1.1 US Cobalt Sulphate Market by Application
5.2 Canada Cobalt Sulphate Market
5.2.1 Canada Cobalt Sulphate Market by Application
5.3 Mexico Cobalt Sulphate Market
5.3.1 Mexico Cobalt Sulphate Market by Application
5.4 Rest of North America Cobalt Sulphate Market
5.4.1 Rest of North America Cobalt Sulphate Market by Application
Chapter 6. Company Profiles
6.1 JERVOIS GLOBAL LIMITED
6.1.1 Company Overview
6.1.2 Financial Analysis
6.2 Shepherd Chemical Company
6.2.1 Company Overview
6.3 Nantong Xinwei Nickel & Cobalt Hightech Development Co.,Ltd.
6.3.1 Company Overview
6.4 Umicore NV-SA
6.4.1 Company Overview
6.4.2 Financial Analysis
6.5 Hunter Chemical, LLC
6.5.1 Company Overview
6.6 Incasa S.A
6.6.1 Company Overview
6.7 Freeport-McMoRan Inc.
6.7.1 Company Overview
6.7.2 Financial Analysis
6.8 Merck KGaA
6.8.1 Company Overview
6.8.2 Financial Analysis
6.8.3 Segmental and Regional Analysis
6.8.4 Research & Development Expense
6.8.5 SWOT Analysis
TABLE 1 North America Cobalt Sulphate Market, 2019 - 2022, USD Million
TABLE 2 North America Cobalt Sulphate Market, 2023 - 2030, USD Million
TABLE 3 North America Cobalt Sulphate Market, 2019 - 2022, Hundred Tonnes
TABLE 4 North America Cobalt Sulphate Market, 2023 - 2030, Hundred Tonnes
TABLE 5 North America Cobalt Sulphate Market by Application, 2019 - 2022, USD Million
TABLE 6 North America Cobalt Sulphate Market by Application, 2023 - 2030, USD Million
TABLE 7 North America Cobalt Sulphate Market by Application, 2019 - 2022, Hundred Tonnes
TABLE 8 North America Cobalt Sulphate Market by Application, 2023 - 2030, Hundred Tonnes
TABLE 9 North America Batteries Market by Country, 2019 - 2022, USD Million
TABLE 10 North America Batteries Market by Country, 2023 - 2030, USD Million
TABLE 11 North America Batteries Market by Country, 2019 - 2022, Hundred Tonnes
TABLE 12 North America Batteries Market by Country, 2023 - 2030, Hundred Tonnes
TABLE 13 North America Alloys Market by Country, 2019 - 2022, USD Million
TABLE 14 North America Alloys Market by Country, 2023 - 2030, USD Million
TABLE 15 North America Alloys Market by Country, 2019 - 2022, Hundred Tonnes
TABLE 16 North America Alloys Market by Country, 2023 - 2030, Hundred Tonnes
TABLE 17 North America Magnets Market by Country, 2019 - 2022, USD Million
TABLE 18 North America Magnets Market by Country, 2023 - 2030, USD Million
TABLE 19 North America Magnets Market by Country, 2019 - 2022, Hundred Tonnes
TABLE 20 North America Magnets Market by Country, 2023 - 2030, Hundred Tonnes
TABLE 21 North America Hard Materials Market by Country, 2019 - 2022, USD Million
TABLE 22 North America Hard Materials Market by Country, 2023 - 2030, USD Million
TABLE 23 North America Hard Materials Market by Country, 2019 - 2022, Hundred Tonnes
TABLE 24 North America Hard Materials Market by Country, 2023 - 2030, Hundred Tonnes
TABLE 25 North America Catalyst Market by Country, 2019 - 2022, USD Million
TABLE 26 North America Catalyst Market by Country, 2023 - 2030, USD Million
TABLE 27 North America Catalyst Market by Country, 2019 - 2022, Hundred Tonnes
TABLE 28 North America Catalyst Market by Country, 2023 - 2030, Hundred Tonnes
TABLE 29 North America Inks & Dyes Market by Country, 2019 - 2022, USD Million
TABLE 30 North America Inks & Dyes Market by Country, 2023 - 2030, USD Million
TABLE 31 North America Inks & Dyes Market by Country, 2019 - 2022, Hundred Tonnes
TABLE 32 North America Inks & Dyes Market by Country, 2023 - 2030, Hundred Tonnes
TABLE 33 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 34 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 35 North America Others Market by Country, 2019 - 2022, Hundred Tonnes
TABLE 36 North America Others Market by Country, 2023 - 2030, Hundred Tonnes
TABLE 37 North America Cobalt Sulphate Market by Country, 2019 - 2022, USD Million
TABLE 38 North America Cobalt Sulphate Market by Country, 2023 - 2030, USD Million
TABLE 39 North America Cobalt Sulphate Market by Country, 2019 - 2022, Hundred Tonnes
TABLE 40 North America Cobalt Sulphate Market by Country, 2023 - 2030, Hundred Tonnes
TABLE 41 US Cobalt Sulphate Market, 2019 - 2022, USD Million
TABLE 42 US Cobalt Sulphate Market, 2023 - 2030, USD Million
TABLE 43 US Cobalt Sulphate Market, 2019 - 2022, Hundred Tonnes
TABLE 44 US Cobalt Sulphate Market, 2023 - 2030, Hundred Tonnes
TABLE 45 US Cobalt Sulphate Market by Application, 2019 - 2022, USD Million
TABLE 46 US Cobalt Sulphate Market by Application, 2023 - 2030, USD Million
TABLE 47 US Cobalt Sulphate Market by Application, 2019 - 2022, Hundred Tonnes
TABLE 48 US Cobalt Sulphate Market by Application, 2023 - 2030, Hundred Tonnes
TABLE 49 Canada Cobalt Sulphate Market, 2019 - 2022, USD Million
TABLE 50 Canada Cobalt Sulphate Market, 2023 - 2030, USD Million
TABLE 51 Canada Cobalt Sulphate Market, 2019 - 2022, Hundred Tonnes
TABLE 52 Canada Cobalt Sulphate Market, 2023 - 2030, Hundred Tonnes
TABLE 53 Canada Cobalt Sulphate Market by Application, 2019 - 2022, USD Million
TABLE 54 Canada Cobalt Sulphate Market by Application, 2023 - 2030, USD Million
TABLE 55 Canada Cobalt Sulphate Market by Application, 2019 - 2022, Hundred Tonnes
TABLE 56 Canada Cobalt Sulphate Market by Application, 2023 - 2030, Hundred Tonnes
TABLE 57 Mexico Cobalt Sulphate Market, 2019 - 2022, USD Million
TABLE 58 Mexico Cobalt Sulphate Market, 2023 - 2030, USD Million
TABLE 59 Mexico Cobalt Sulphate Market, 2019 - 2022, Hundred Tonnes
TABLE 60 Mexico Cobalt Sulphate Market, 2023 - 2030, Hundred Tonnes
TABLE 61 Mexico Cobalt Sulphate Market by Application, 2019 - 2022, USD Million
TABLE 62 Mexico Cobalt Sulphate Market by Application, 2023 - 2030, USD Million
TABLE 63 Mexico Cobalt Sulphate Market by Application, 2019 - 2022, Hundred Tonnes
TABLE 64 Mexico Cobalt Sulphate Market by Application, 2023 - 2030, Hundred Tonnes
TABLE 65 Rest of North America Cobalt Sulphate Market, 2019 - 2022, USD Million
TABLE 66 Rest of North America Cobalt Sulphate Market, 2023 - 2030, USD Million
TABLE 67 Rest of North America Cobalt Sulphate Market, 2019 - 2022, Hundred Tonnes
TABLE 68 Rest of North America Cobalt Sulphate Market, 2023 - 2030, Hundred Tonnes
TABLE 69 Rest of North America Cobalt Sulphate Market by Application, 2019 - 2022, USD Million
TABLE 70 Rest of North America Cobalt Sulphate Market by Application, 2023 - 2030, USD Million
TABLE 71 Rest of North America Cobalt Sulphate Market by Application, 2019 - 2022, Hundred Tonnes
TABLE 72 Rest of North America Cobalt Sulphate Market by Application, 2023 - 2030, Hundred Tonnes
TABLE 73 Key Information – JERVOIS GLOBAL LIMITED
TABLE 74 Key Information – Shepherd Chemical Company
TABLE 75 Key Information – Nantong Xinwei Nickel & Cobalt Hightech Development CO., LTD.
TABLE 76 Key Information – Umicore NV-SA
TABLE 77 Key Information – Hunter Chemical, LLC
TABLE 78 Key Information – Incasa S.A
TABLE 79 Key Information – Freeport-McMoRan Inc.
TABLE 80 key Information – Merck KGaA
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Cobalt Sulphate Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Cobalt Sulphate Market
FIG 4 Porter’s Five Forces Analysis – Cobalt Sulphate Market
FIG 5 North America Cobalt Sulphate Market share by Application, 2022
FIG 6 North America Cobalt Sulphate Market share by Application, 2030
FIG 7 North America Cobalt Sulphate Market by Application, 2019 - 2030, USD Million
FIG 8 North America Cobalt Sulphate Market share by Country, 2022
FIG 9 North America Cobalt Sulphate Market share by Country, 2030
FIG 10 North America Cobalt Sulphate Market by Country, 2019 - 2030, USD Million
FIG 11 Swot Analysis: Merck KGaA