[nickel-cobalt-lithium summit] supply of battery-grade cobalt sulfate in North America and Europe

SMM May 21: although, First Cobalt Crop CEO Trent Mell could not be present at the 2021 China International Nickel-Cobalt-Lithium Summit Forum hosted by SMM, First Cobalt Crop CEO Trent Mell still shared the supply of battery-grade cobalt sulfate in North America and Europe for the guests through recording. He believes that demand for cobalt will grow by 14 per cent by 2030. And by 2023, first Cobalt will account for 1/4 of the global output of cobalt sulfate excluding China. Cobalt demand in batteries will account for more than 90 per cent of total growth in 2015-2030, with a compound annual growth rate of 19 per cent in 2020-2030.

Demand for cobalt will increase by 14% by 2030

Demand for cobalt will increase by 14% by 2030

First, let's take a look at Trent Mell's view of the current cobalt market. He speculates that demand for cobalt will grow by 14% by 2030. And by 2023, first Cobalt will account for 1/4 of the global output of cobalt sulfate excluding China.

Cobalt demand growth (kt Co) in 2015-2030

Cobalt demand in batteries will account for more than 90 per cent of total growth, with a compound annual growth rate of 19 per cent between 2020 and 2030.

As can be seen from the relevant statistical pictures, the overall demand for cobalt has shown a strong growth trend since 2015. Judging from the current situation, cobalt demand in the battery sector is expected to account for more than 90 per cent of the total growth in the future, with a compound annual growth rate of 19 per cent from 2020 to 2030.

Cobalt demand growth (kt Co) in 2015-2030

As for battery-grade sulfate, at present, China's battery-grade sulfate refinery is very strong in the world. it is speculated that in the future, the first cobalt industry will become the second largest non-Chinese battery-grade sulfate refinery in the world and the only refinery in North America.

Battery recycling technology in other markets

Next, we can briefly take a look at the battery recycling process in other markets. After a series of previous treatments, there are two results: one is that through the heating process, the final product is the main source of battery raw materials in North America and Europe; and the other is that black Americans collect used batteries, Discharge them, disassemble them, and finally crush the cathode into black sand or black lumps.

Battery recycling principle and market scale

1. By 2035, there will be 4.1 million metric tons of scrapped electric vehicles and storage bags available worldwide.

two。 The legal recovery rate of nickel, cobalt and manganese in China is 98% (North America and Europe are expected to follow);

3. At present, the gross profit of recycling a lOOkWh NCA bag in the United States is $2 / kWh.

4. Using recyclable materials can reduce the carbon footprint of batteries by 85%.

It is worth mentioning that, from the current overall development of the market, it is expected that in the next 15 years, North America and Europe will account for no more than 50% of the global battery scrap market, but the development momentum is strong enough.