The growth of China’s cobalt consumption mainly drove by battery market, particularly the power battery.
Albany, NY -- (SBWIRE) -- 08/25/2017 -- Cobalt is an important strategic metal used in lithium battery manufacturing, hard alloy smelting and superalloy production. With a prime focus on Chinese market, a new study titled "China Cobalt (Metal/Salt/Powder) Industry PEST Analysis and Top 12 Manufacturers in-depth Survey, 2017 to 2020 Forecast" has been broadcasted to the mega-repository of Market Research Hub (MRH). The report offers detailed PEST (Political, Economic, Social and Technological) analysis, which determines how major factors present in the market will affect the performance and activities of a business in the long-term. Moreover, this report explores China's top manufacturers of Cobalt listing their product specification, capacity, Production value, and market share etc.
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Cobalt is not found as a free metal and is normally found in the form of ores. It is located between iron and nickel and shares many chemical and physical properties of these two elements. Despite the many uses for cobalt metal, Cobalt's primary applications are in the chemical sector, which accounts for about half of the total global demand. At first, the report reviews the basic information of Cobalt including its classification, application and manufacturing technology. China is the world's largest producer of refined cobalt and contributed 49.7% to the global output in 2015.
According to the study findings, the growth of China's cobalt consumption mainly drove by battery market, particularly the power battery. Recently, the Chinese government has set up a 2 million sales target for electric cars by 2020, which will significantly stimulate the demand for cathode materials and further benefits refine cobalt demand. In next 3 to 5 years, due to limited newly build cobalt ore and refine cobalt capacities, the shortage of refining cobalt would maintain around 10000 tons.
The research study further describes that one of the more significant salts of cobalt is the sulfate CoSO4, which is employed in electroplating, in preparing drying agents and for pasture top-dressing in agriculture. Other cobaltous salts have significant applications in the production of catalysts, driers, cobalt metal powders, and other salts. At present, most Chinese refine cobalt manufacturers are concentrated in cobalt salt products, only a few of them have metal cobalt and cobalt powder products. Large parts of their capacities are Co3O4. There are 3 mainstream Co3O4 manufacturing technologies in China, including:
- Cobalt chloride from ore-compounded cobalt oxalate-calcine to Co3O4.
- Cobalt chloride or cobalt sulfate from ore-compounded cobalt carbonate-calcine to Co3O4
- Cobalt sulfate from ore-calcine cobalt sulfate to Co3O4
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The top 12 manufacturers profiled in this study include Huayou Cobalt Co., Ltd., Tianjin Maolian Science & Technology Co., Ltd., GEM Co., Ltd, Ganzhou Tengyuan Cobalt New Material Co., Ltd., Lanzhou Jinchuan Advanced Materials Technology Co. Ltd., New Era Group Zhejiang New Energy Material Co., LTD., Nanjing cold cobalt industry Limited, Jiayuan Cobalt Holdings, Guangdong Brunp Recycling Technology Co., Ltd., Zhuhai Kelixin Metal Materials Co. Ltd., Hunan Yarcher New Materials Development Co., Ltd., Hunan Hina Advanced Material Co., Ltd. and Jiangxi Tungsten Industry Co., Ltd. Among these players, Jinchuan and GEM are major metal cobalt manufacturers, Hanrui, Shanghai Bailuoda and Shenzhen GEM are major cobalt powder manufacturers.
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