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China Cobalt Market Report 2021: China Only Accounted for 1% of Reserves in 2020 - Forecast to 2025

·5-min read

Dublin, June 02, 2021 (GLOBE NEWSWIRE) -- The "Investigation Report on the Chinese Cobalt Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.

By the end of 2020, global cobalt reserves totaled about 7 million tons, 3.60 million tons, or 50% of which were in Congo (Kinshasa). Australia, Cuba. Etc. accounted for 5% to 20% respectively while China only accounted for only about 1%.

The industry chain of cobalt mainly includes cobalt ore mining and dressing (upstream), cobalt smelting and processing (midstream) and terminal utilization of cobalt (downstream). In the upstream, Congo (Kinshasa) accounts for nearly half of the global cobalt ore reserves and production; in the midstream, China contributes nearly half to global production capacity and production volume of cobalt salts, cobalt and cobalt powder; in the downstream, cobalt is applied in batteries, high-temperature alloys, cemented carbides, magnetic materials, etc.

In 2020, the global production volume of cobalt was about 140,000 tons, decreasing by nearly 3% YOY. The production volume of cobalt in Congo (Kinshasa) was about 95,000 tons, decreasing by nearly 5% YOY. Cobalt production declined consecutively in Congo (Kinshasa) from 2018 to 2020 because Luoyang Molybdenum' TFM copper and cobalt mine, the world's third largest cobalt mine, has reduced its production from 2019. Glencore' Mutanda, the world's largest mine, has been shut down for technical reforms for three consecutive years since 2020. At the same time, the new crown epidemic has affected the cobalt mining industry, resulting in insufficient cobalt supply, stimulating the rise of cobalt prices.

In recent years, global cobalt production stay above 130,000 tons per year and cobalt demand is also small. Therefore, cobalt prices can be easily manipulated to soar or slump, which is different from copper, aluminum, lead, zinc and other bulk commodities.

It is estimated that in 2020, more than 60% of global cobalt consumption was attributable to the materials for 3C batteries, energy storage batteries, power batteries for new energy vehicles and other batteries. With the advent of 5G smart phones, 3C electronic shipments and unit charge will increase in the future. Mobile phones and new energy vehicles will account for about 70% of China's cobalt applications.

If there is no major technological innovation, the cobalt demand from cemented carbides, high-temperature alloys and magnetic materials will remain stable in the next few years. And battery materials will be the largest growth driver for the cobalt demand from 2021 to 2025.

It is expected that li-ion batteries for electric vehicles will be the largest growth area for cobalt consumption in the battery sector. In recent years, the global production volume of electric vehicles has been growing fast at a growth rate far exceeding that of traditional vehicles.

In 2020, the production volume of electric vehicles in China reached about 1.456 million units, increasing by 22% as compared to 2019. The demand for cobalt, an important raw material for electric vehicle batteries, will continue to grow. Power batteries have taken up the largest proportion of the downstream applications of cobalt.

As global new energy vehicle industry is developing rapidly, the global cobalt demand will also continue to rise. It is expected that from 2021 to 2025, the global production volume of new energy vehicles will grow at a CAGR of around 40%, the cobalt demand from ternary materials will grow at a CAGR of about 50% and the demand for energy storage lithium batteries will grow at a CAGR of nearly 50%.

Meanwhile, ternary batteries will see an increase in penetration rate and their demand for cobalt will grow at a CAGR of 80%. The cobalt demand from 3C batteries and industrial batteries will maintain a CAGR of about 5%. Overall, the CAGR of global cobalt demand will stay around 10% from 2021 to 2025.

Key Topics Covered:

1. Basic Concepts of the Cobalt Industry

2. Development Environment for Global and China's Cobalt Industries
2.1. Economic Environment
2.1.1. Global Economy
2.1.2. China's Economy
2.1.3. Development of Global and China's New Energy Vehicle Industries
2.2. Policy Environment
2.3. Resource Environment
2.4. Development Environment for China's Non-ferrous Metal Industry
2.5. Major Downstream Applications of Cobalt
2.5.1. Li-ion Power Batteries (New Energy Vehicles)
2.5.2. Magnetic Materials
2.5.3. Alloys

3. Analysis on Global and China's Cobalt Industries
3.1. Analysis on Cobalt Supply
3.1.1. Cobalt Supply in the World, 2016-2020
3.1.2. Cobalt Supply in China
3.2. Analysis on Cobalt Demand
3.3. Analysis on Import and Export of Cobalt in China
3.4. Price Trend of Cobalt, 2021-2025

4. Analysis of Industry Chain of Cobalt
4.1. Composition of Industry Chain of Cobalt
4.2. Upstream Raw Materials
4.3. Cobalt Smelting
4.4. Downstream Industries

5. Analysis of Competition in the Cobalt Industry
5.1. Barriers to Entry in the Cobalt Industry
5.1.1. Fund Barrier
5.1.2. Technical Barrier
5.1.3. Policy Barrier
5.1.4. Raw Material Barrier
5.2. Competitive Landscape of the Cobalt Industry

6. Major Cobalt Smelters in China and the World, 2020-2021
6.1. Major Cobalt Mining and Smelting Enterprises
6.2. Downstream Material Producers

7. Prospect of Global and China's Cobalt Industries, 2021-2025
7.1. Factors Influencing Development of the Cobalt Industry
7.1.1. Driving Forces and Market Opportunities
7.1.2. Threats and Challenges
7.2. Forecast on Cobalt Supply, 2021-2025
7.3. Forecast on Cobalt Demand, 2021-2025
7.4. Trends of the Cobalt Industry

Companies Mentioned

  • Beijing Easpring Material Technology Co., Ltd.

  • China Molybdenum Co., Ltd.

  • China Railway Resources Group Co., Ltd.

  • Eurasian Resources Group

  • GEM Co., Ltd.

  • Glencore PLC

  • Hunan Brunp Recycling Technology Co., Ltd.

  • Hunan Changyuan Lico Co., Ltd.

  • Hunan Shenghua Technology Co., Ltd.

  • Jiangsu Cobalt Nickel Metal Co., Ltd.

  • Jinchuan Group Co., Ltd.

  • Nanjing Hanrui Cobalt Co., Ltd.

  • Ningbo Jinhe New Materials Co., Ltd.

  • Ningbo Shanshan Co., Ltd.

  • Ramu Nico Management (MCC) Limited

  • Shen Zhen BTR New Energy Materials Inc.

  • Vale S.A.

  • Xiamen Tungsten Co., Ltd.

  • Zhejiang Huayou Cobalt Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/shtwkh

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900