my country’s cobalt carbonate industry is developing rapidly, with new energy vehicles being the main driving force

Cobalt is a shiny silver-white metal with a slightly pale pink surface, hard and brittle, and ferromagnetic. Cobalt carbonate is an inorganic compound that is toxic and can irritate the eyes, skin and respiratory system. It is usually in the form of pink or light red crystalline powder with the chemical formula CoCO3. It is almost insoluble in organic solvents such as alcohol, ether methyl ester, and ammonia. Soluble in acid and sodium hydroxide.

Cobalt carbonate has the advantages of long service life and high energy density. It is an important cobalt chemical raw material and is widely used in pigments, alloys, metallurgy, catalysts, mineral processing agents, cosmetics, agriculture, feed, trace fertilizers, ceramics, battery materials, and magnetic materials. , cobalt oxide production, electric vehicles and other fields.

Cobalt carbonate can be produced by reacting metallic cobalt or cobalt-containing waste with hydrochloric acid to form cobalt chloride, and then reacting with sodium carbonate. From the perspective of cobalt production, Congo, China, Russia, Australia, Canada, and Cuba are the main producers of cobalt globally. Among them, my country’s cobalt production accounts for about 7% of the world’s cobalt production, ranking second in the world, and there is an adequate supply of raw materials for cobalt carbonate production.

According to the “Cobalt Carbonate Industry In-depth Market Research and Investment Strategy Suggestions Report 2023-2027” released by the Industrial Research Center, my country is The world’s largest producer and consumer of cobalt carbonate is also the largest exporter of cobalt carbonate. my country’s cobalt carbonate production accounts for more than 60% of the world’s cobalt carbonate production. Yunnan, Guangdong, Guizhou and other provinces are the main producing areas of cobalt carbonate in my country. Among them, Yunnan’s cobalt carbonate production ranks first in the country, accounting for more than 50% of my country’s total cobalt carbonate production.

In recent years, my country’s cobalt carbonate industry has developed rapidly and the market size has continued to expand. New energy vehicles are the main driving force. Under the background of “carbon neutrality” and “carbon peak”, as government support increases, my country’s new energy vehicles develop rapidly. According to data published in the “Statistical Bulletin of National Economic and Social Development of the People’s Republic of China in 2022”, my country’s new energy vehicles in 2022 The production of new energy vehicles was 7.003 million units, an increase of 91% compared with 2019. The rapid growth of new energy vehicle production has driven rising demand for lithium-ion batteries. Cobalt carbonate is an important material for the production of lithium-ion batteries. With the rapid growth of the lithium-ion battery market, cobalt carbonate has broad development prospects.

At present, globally, multinational mining companies such as Glencore, Eurasian Resources, and China Molybdenum occupy the main market share of cobalt carbonate. my country’s cobalt carbonate industry has both large-scale enterprises with leading technologies and large production scales, and there is also a lack of production. Small-scale enterprises have uneven strengths in R&D technology, product quality, and product development capabilities.

Industrial analysts said that competition in my country’s cobalt carbonate industry is fierce, and there are problems such as product homogeneity and lack of high-end products. In addition, the production process of cobalt carbonate will produce a large amount of waste water and waste gas, causing pollution to the environment. As the government’s environmental supervision becomes increasingly strict, my country’s cobalt carbonate companies urgently need to explore cleaner and more environmentally friendly production methods.