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Global and China Cobalt Industry Report, 2021-2026
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As a very rare metal and an important strategic resource for a country, cobalt gets typically utilized in battery materials, super heat-resistant alloys, tool steels, cemented carbides, and magnetic materials. Spurred by the sales boom of new energy vehicles and a rise in electricity of each vehicle, the demand from power batteries for cobalt has been growing steadily, while that from consumer batteries has plunged due to the COVID-19, resulting in global cobalt consumption with a year-on-year decrease of 0.6 % to 137,500 tons in 2020.
Although power battery cathode materials tend to feature high nickel and zero cobalt in the future, the unit cobalt consumption will edge down. With the explosive production and sales of new energy vehicle globally and the electricity increase per car, the global cobalt use in new energy vehicles will continue a bullish trend with an expected CAGR at least 30% by 2025. Benefiting from new trends like remote work and online education, the cobalt use in 3C consumer electronics is expected to grow stably or slightly. Besides, the cobalt used by cemented carbides and high-temperature alloys is projected to keep a CAGR of 3% to 4% driven by the high-end manufacturing.
Batteries are the largest consumer of cobalt with a share of about 57%, followed by nickel-based alloys with 14%.
On a regional basis, China is the largest and fastest-growing cobalt consumer, sweeping approximately 32% of global consumption in 2020 when the second-ranked Europe seized about 23% and the No.3 United States 18%.
The global cobalt resource reserves are roughly 7.1 million tons, as is revealed by the data from USGS. Congo-Kinshasa boasts the most abundant resources, with 3.6 million tons of cobalt reserves (nearly a half of the world’s total); the follower Australia has 1.4 million tons of cobalt resources as a percentage of about 20%; China holds about 80,000 tons of cobalt resources, sharing only 1.12% of the world's total, and has to rely heavily on imports to meet its own demand annually.
Concerning output, the global cobalt metal output fell 6% year-on-year to about 145,000 tons in 2020, mainly because Mutanda, the world's largest cobalt mine, was closed at the end of 2019. By country, Congo-Kinshasa took a lion’s share 66% of the global total with the output about 96,000 tons, while other countries had small shares like Australia 5%, Russia 4%, the Philippines 4%, Cuba 3%, Canada 3%, etc.
Notably, Glencore became the world's largest cobalt ore manufacturer in 2020 by 31,800 tons as a percentage of 23.7% of the world's total, followed by China Molybdenum Co., Ltd. (“CMOC”) (which acquired cobalt ore resources from Freeport-McMoRan in 2017) 11.2% and Vale 3.3%.
Glencore, headquartered in Baar, Switzerland, is the world's largest commodity trader, dedicates itself to the production and marketing of metals & minerals, energy products and agricultural products. Its metals & minerals mainly include copper, zinc, cobalt, lead, nickel, ferrochrome, gold, silver, etc., among which zinc, cobalt and copper are the fields where Glencore remains superior. Glencore owns the Mutanda Mine and Katanga Mining as its core cobalt assets. The Mutanda Mine is an open-pit copper mine in the Katanga Province of the Democratic Republic of the Congo. Katanga Mining operates a major mine complex in the Congo's Katanga Province, producing refined copper and cobalt. The Mutanda Mine ceased production in late 2019. Katanga Mining resumed production in early 2018. Also, Glencore possesses INO (Integrated Nickel Operations) in Canada and Murrin Murrin (100%) in Australia.
Headquartered in Luoyang city, China, CMOC is devoted to the mining, smelting, deep processing, trade and scientific research of rare and noble metals such as molybdenum, tungsten and gold. In 2016, CMOC acquired an 80% stake in Tenke Fungrume Mining (TFM), a copper-cobalt mine owned by Freeport-McMoRan in the United States for US$2.65 billion. The mine's cobalt output was about 15,000 tons in 2020. On December 31, 2020, CMOC acquired a 95% indirect interest in the Kisanfu copper-cobalt mine in Congo-Kinshasa from Freeport-McMoRan for US$550 million; the Congo-Kinshasa government holds the rest 5% in the mine. In April 2021, CMOC signed a "Strategic Cooperation Agreement" with Brunp Times, an indirect holding company of CATL, allowing Brunp Times to acquire a 25% stake in KFM at a total consideration of US$137.5 million through its wholly-owned subsidiary Hongkong Brunp and CATL Co., Limited. As yet, the mine has not been put into production. According to the latest estimates, the average grade of cobalt in the mine is about 0.85%, and the amount of cobalt-containing metals hits about 3.1 million tons.
Global and China Cobalt Industry Report, 2018-2023 highlights the following:
 The cobalt industry (definition, classifications, development trends, industry policies, etc.);
Global cobalt industry (reserves, output, demand, and competitive landscape, etc.);
China's cobalt industry (output, demand, import and export, competitive landscape, etc.);
Output, sales volume, import and export, etc. of global and Chinese cobalt segments;
The cobalt application market, covering lithium batteries, high temperature metals, hard metals, magnetic materials, etc.;
18 cobalt-related manufacturers in the world and China, including Glencore, Umicore, Vale, Freeport, CMOC, Huayou Cobalt, GEM, Jinchuan, etc. (profiles, financials, output, sales volume, hit products, production base distribution and the latest dynamics).
1. Cobalt
1.1 Definitions
1.2 Industry Chain
2. Status Quo of Global Cobalt Market
2.1 Cobalt Ore Reserves
2.2 Market Supply
2.2.1 Production of Cobalt Ores
2.2.2 Cobalt Recycling
2.2.3 Refined Production
2.3 Demand
2.4 Price
2.5 Competition Pattern
2.6 Development Trend
3. Cobalt Market Development in China
3.1 Overview
3.2 Policy
3.3 Cobalt Ore Resources
3.4 Market Supply and Demand
3.4.1 Supply
3.4.2 Demand
3.5 Price
3.6 Product Structure
3.7 Competition Pattern
4. China’s Import and Export of Cobalt by Product
4.1 Cobalt Ores and Concentrates
4.1.1 Import
4.1.2 Export
4.2 Cobaltosic Oxide
4.2.1 Import
4.2.2 Export
4.3 Cobalt Chloride
4.3.1 Import and Export
4.3.2 Regional Structure
4.4 Cobalt Carbonate
4.4.1 Import and Export
4.4.2 Regional Structure
4.5 Cobalt Nitrate
4.5.1 Import and Export
4.5.2 Regional Structure
4.6 Cobalt Oxalate
5. Demand of Main Cobalt Downstream Industries
5.1 Battery Materials
5.1.1 Market Development
5.1.2 Demand for Cobalt
5.2 Hard Alloy
5.2.1 Market Development
5.2.2 Demand for Cobalt
5.3 Magnetic Materials
5.3.1 Market Development
5.3.2 Demand for Cobalt
5.4 Superalloy
5.4.1 Market Development
5.4.2 Demand for Cobalt
6. Major Global Cobalt Manufacturers
6.1 Umicore
6.1.1 Profile
6.1.2 Operation
6.1.3 Cobalt Business (Cobalt Specialty Materials)
6.1.4 Business in China
6.1.5 Development Prospect
6.2 Glencore
6.2.1 Profile
6.2.2 Operation
6.2.3 Cobalt Business
6.3 Vale
6.3.1 Profile
6.3.2 Operation
6.3.3 Cobalt Business
6.3.4 Business in China
6.4 Freeport-McMoRan
6.4.1 Profile
6.4.2 Operation
6.4.3 Cobalt Business
6.4.4 Business in China
6.5 Sherritt International
6.5.1 Profile
6.5.2 Operation
6.5.3 Cobalt Business
7. Major Chinese Cobalt Producers
7.1 GEM
7.1.1 Profile
7.1.2 Operation
7.1.3 Revenue Structure
7.1.4 Cobalt Business
7.2 Huayou Cobalt
7.2.1 Profile
7.2.2 Operation
7.2.3 Revenue Structure
7.2.4 Cobalt Business
7.3 Jinchuan International
7.3.1 Profile
7.3.2 Operation
7.3.3 Cobalt Business
7.4 Tengyuan Cobalt
7.4.1 Profile
7.4.2 Operation
7.4.3 Cobalt Business
7.4.4 IPO
7.5 Easpring Material
7.5.1 Profile
7.5.2 Operation
7.5.3 Cobalt Business
7.6 Hanrui Cobalt
7.6.1 Profile
7.6.2 Operation
7.6.3 Cobalt Business
7.7 China Molybdenum
7.7.1 Profile
7.7.2 Operation
7.7.3 Cobalt Business
7.7.4 Acquisition of Kisanfu
7.8 Guangdong Silver
7.8.1 Profile
7.8.2 Operation
7.8.3 Cobalt Business
7.9 Jiana Energy
7.9.1 Profile
7.9.2 Operation
7.9.3 Cobalt Business
7.9.4 Fundraising Projects
7.10 Ramu Nico Management (Mcc)
7.10.1 Profile
7.10.2 Operation
7.11 Jiangxi Tungsten
7.11.1 Profile
7.11.2 Jiangxi Jiangwu Cobalt Co., Ltd.
7.11.3 Jiangxi Jiangwu Nickel and Cobalt New Materials Co., Ltd.
7.11.4 Jiangxi Jiangwu International Nickel and Cobalt New Materials Co., Ltd.
7.12 Huayi Chemical
7.12.1 Profile
7.12.2 Operation
7.12.3 Nantong Xinwei Nickel & Cobalt Hightech Development Co., Ltd.
7.13 Tianjin Maolian Technology Co., Ltd
7.13.1 Profile
7.13.2 Cobalt Business
Cobalt Production Process
Cobalt Product Process
Cobalt Industry Chain
Products of Major Cobalt Downstream Industries
Cobalt Reserves in Major Countries, 2020
Global Cobalt Mine Production, 2013-2020
Cobalt Mine Production of the World excluding DRC, 2013-2020
Cobalt Output in Democratic Republic of the Congo, 2013-2021
Recycling Period and Rate of Cobalt Products
Global Estimated Recycling of Cobalt by Source, 2013-2020
Global Refined Cobalt Output, 2011-2020
Global Cobalt Consumption, 2013-2020
Consumption of cobalt in non-battery applications, 2013-2020
Cobalt Demand Structure Worldwide, 2020
Cobalt Demand Structure by Region, 2020
Global Cobalt Price, 2017-2021
Global MB Cobalt Price, 2015-2021
Changes in Global Cobalt Inventory by Region, 2020-2021
Supply of Main Cobalt Ore Companies Worldwide, 2017-2025
Global Cobalt Supply Trend, 2020-2025E
Cobalt Demand & Supply Balance in Worldwide, 2020-2025E
Chinese Companies’ Layout of Cobalt Industry Chain
Policies on Cobalt Industry in China, 2013-2021
Cobalt Reserves Distribution in China (by Province)
Cobalt Mines Invested by Chinese Companies in Democratic Republic of the Congo
China’s Refined Cobalt Output, 2015-2021
China’s Cobalt Consumption, 2016-2021
Cobalt Demand Structure in China, 2021
Cobalt Price Trend in China, 2017-2021
Cobalt Price by Product in China, 2021
China's Electrolytic Cobalt Output and Operating Rate by Month, 2020-2021
China's CoSO4 Output and Operating Rate by Month, 2020-2021
China's Co3O4 Output and Operating Rate by Month, 2020-2021
China's CoO Output and Operating Rate by Month, 2020-2021
Capacity and Operation of Major Cobalt Companies in China, 2021
Revenue and Gross Margin of China’s Major Cobalt Producers, 2020
Import Volume and Import Value of Cobalt Ores and Concentrates in China, 2014-2020
Export Volume and Export Value of Cobalt Ores and Concentrates in China, 2014-2020
China’s Import Volume and Import Value of Cobaltosic Oxide, 2015-2020
China’s Export Volume and Export Value of Cobaltosic Oxide, 2014 -2021
China’s Import Volume and Import Value of Cobalt Chloride, 2016 -2021
China’s Export Volume and Export Value of Cobalt Chloride, 2014-2021
Structure (%) of China’s Export Volume of Cobaltosic Oxide by Country, 2021
China’s Import Volume and Import Value of Cobalt Carbonate, 2011-2021
China’s Export Volume and Export Value of Cobalt Carbonate, 2014-2021
Structure (%) of China’s Export Volume of Cobalt Carbonate by Country, 2021
China’s Import Volume and Import Value of Cobalt Nitrate, 2012 -2021
China’s Export Volume and Export Value of Cobalt Nitrate, 2014-2021
Structure (%) of China’s Export Volume of Cobalt Nitrate by Country, 2015-2016
China’s Export Volume and Export Value of Cobalt Oxalate, 2012-2021
Global Lithium Battery Shipments by Type, 2016-2020
China’s Lithium Battery Shipments by Type, 2016-2020
Global Top10 Power Lithium Battery Companies by Shipment/Market Share, 2020
Global Lithium Battery Cathode Material Sales, 2016-2025
Lithium Battery Cathode Material Sales of China, 2016-2025
Competitive Pattern of Chinese Lithium Battery Cathode Material Market, 2020
Global Shipment of Ternary Materials and Ternary Precursors, 2016-2025E
Product Structure Comparison of Ternary Precursors in China, 2020-2021
Global and China Ternary Precursor Capacity
Production of Main Ternary Precursor Companies in China, 2021
Amount of Cobalt Consumed by Different Ternary Cathode Materials
Cobalt Demand Structure in Battery Industry
Metal Demand from Different Cathode Materials (Per Ton)
Demand for Cobalt from New Energy Vehicles
Global Demand for Cobalt from Battery Industry, 2020-2025E
Classification of Cemented Carbide (by Component)
Global Cemented Carbide Output, 2017-2020
China’s Cemented Carbide Output, 2010-2020
China's Cemented Carbide Output Distribution, 2020
China's Cemented Carbide Import and Export, 2017-2021
China’s Cemented Carbide -use Cobalt Demand, 2016-2026E
Classification of Magnetic Materials
Global Rare Earth Permanent Magnet Output and Growth Rate, 2015-2025E
China’s Rare Earth Permanent Magnet Output and Growth Rate, 2015-2025E
Global Magnetic Materials-use Cobalt Demand, 2017-2023E
China’s Magnetic Materials-use Cobalt Demand, 2016-2023E
Main Applications of Superalloy
Global Superalloy Consumption Structure by Application
Application of Superalloy in Aerospace Engine Thermal End Bearing Parts
Main Structure of Aerospace Engine
Superalloy Development Course in China
China’s Superalloy Output, 2014-2020
Global Superalloy-use Cobalt Demand, 2012-2020
China’s Superalloy-use Cobalt Demand, 2012-2020
Key Business of Umicore, 2021
Business Layout of Umicore, 2021
Revenue and Net income of Umicore, 2014-2021
Revenue of Umicore by Business, 2015-2021
Energy & Surface Technologies Business Group Profile
Growth and Profitability Drivers of Energy & Surface Technologies Business Group
Total Revenue Structure (%) of Umicore by Region, 2015-2020
R&D Costs and % of Total Revenue of Umicore, 2013-2021
Revenue and Profit from Energy & Surface Technologies Business of Umicore, 2017-2021
Umicore’s Subsidiaries in China, by the End of 2020
Outlook of Umicore, 2021
Global Presence of Glencore
Revenue and Net income of Glencore, 2012-2018
Revenue Structure (%) of Glencore Xstrata by Business, 2015-2021
Revenue Structure of Glencore by region, 2019-2020
Cobalt Output of Glencore from own sources, 2017-2020
Glencore's Cobalt Mine Output, 2015-2021
Global Presence of Vale, 2021
Revenue and Net Income of VALE, 2016-2021
Revenue Structure of VALE by Business, 2019-2020
Revenue Breakdown of Vale by Region, 2019-2020
Cobalt Output of Vale by Mine Area, 2018-2020
Cobalt Product Sales Volume and Revenue of Vale, 2013-2020
Cobalt Ore Reserves and Grades of Vale, 2019-2020
Cobalt Ore Mines of Vale, 2020
Vale in China
Vale’s Revenue and YoY Growth in China, 2014-2020
Mineral Distribution of Freeport-McMoRan, 2020
Revenue and Net income of Freeport-McMoRan, 2014-2021
Revenue Structure of Freeport-McMoRan by Product, 2018-2020
Revenue Breakdown of Freeport-McMoRan by Country/Region, 2018-2020
Revenue and YoY Growth of Freeport-McMoRan in China, 2008-2020
Global Presence of Sherritt International
Key Business of Sherritt International
Sherritt’s Main Subsidiaries
Sherritt’s Key Operational Indicators, 2019-2020
Revenue Breakdown of Sherritt International by Business, 2020
Revenue Breakdown of Sherritt International by Country/Region, 2019-2020
Sherritt’s Cobalt Output and Sales, 2019-2020
Revenue and Net income of GEM, 2014-2021
Revenue Breakdown of GEM by Product, 2020-2021
Revenue Breakdown of GEM by Region, 2014-2021
Procurement from Top 5 Suppliers of GEM, 2013-2020
R&D Costs and % of Total Revenue of GEM, 2014-2020
Capacity of GEM’s Main Products until Dec, 2020
Cobalt Industry Recycling Production Mode of Shenzhen Green Eco-Manufacture
Downstream Customers for Cobalt Lithium Battery Materials of GEM
Main Products of Huayou Cobalt
Revenue and Net income of Huayou Cobalt, 2014-2021
Operating Revenue of Huayou Cobalt by Product, 2017-2020
Operating Revenue of Huayou Cobalt by Region, 2014-2020
Gross Margin of Huayou Cobalt by Product, 2014-2020
Major Customers of Huayou Cobalt
Production and Sales Volume of Cobalt Products of Huayou Cobalt, 2016-2020
Revenue and Net income of Jinchuan International, 2016-2021
Revenue Breakdown of Jinchuan International, 2021
Specification of Ruashi Mine
Specification of Musonoi Project
Revenue and Net income of Tengyuan Cobalt, 2018-2021
Revenue Breakdown of Tengyuan Cobalt by Product, 2018-2020
Revenue Breakdown of Tengyuan Cobalt by Region, 2018-2020
Gross Margin of Tengyun Cobalt by Product, 2019-2021
Capacity and Output of Tengyuan Cobalt, 2018-2020
TOP Customers of Tengyuan Cobalt, 2020
Proposed Project of Tengyuan Cobalt, 2021
Development Course of Easpring Material, 1992-2021
Revenue and Net Income of Easpring Material, 2012-2021
Revenue of Easpring Material by Business, 2019-2021
Revenue of Easpring Material by Region, 2014-2021
Gross Margin of Easpring Material by Business, 2019-2021
Key Lithium Battery Materials of Easpring Material
Capacity of Cathode Materials of Easpring Material, 2015-2021
Capacity Distribution of Easpring Material, 2021
Capacity Expansion Plan of Easpring Material, 2019-2023
Revenue and Net income of Hanrui Cobalt, 2014-2021
Revenue Breakdown of Hanrui Cobalt by Product, 2018-2021
Gross Margin of Hanrui Cobalt by Product, 2017-2021
Industrial Chain of Hanrui Cobalt
Capacity of Major Products and Capacity Planning of Hanrui Cobalt, 2021
Output of Hanrui Cobalt by Product, 2016-2020
Global Presence of China Molybdenum
Revenue and Net income of China Molybdenum, 2014-2021
Revenue and Gross Margin of China Molybdenum by Product, 2019-2021
Revenue and Gross Margin of China Molybdenum by Region, 2019-2021
Cobalt Metal Sales Volume of China Molybdenum’s TFM, 2017-2021
Revenue and Net Income of China Molybdenum’s TFM, 2019-2021
Kisanfu’s Shareholding Structure
CMOC’s Resource Reserves in TFM and KFM
Revenue and Net Income of Guangdong Silver, 2014-2021
Operating Revenue and Gross Margin of Guangdong Silver by Product, 2019-2021
Proposed Cobalt Project of Guangdong Silver, 2021H1
Major Subsidiaries of Jiana Energy
Revenue and Net Income of Jiana Energy, 2016-2021
Main Products of Jiana Energy
Production of Dowstone's Cobalt Products, 2018-2021
Sales Volume of Dowstone's Cobalt Products, 2018-2021
Purposes of Funds Raised by Dowstone through Non-public Offering of Shares
Shareholding Structure of Projects of Ramu Nico Management Limited, 2017
Nickel Cobalt Companies of Jiangxi Tungsten
Cobalt Related Products of Huayi Chemical
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