As the main raw material for lithium cobalt oxide, the market competition for cobalt tetroxide is fierce.

The chemical formula of cobalt tetroxide is Co3O4, which is an inorganic compound synthesized from cobalt oxide (Co2O3) and cobalt oxide (CoO). Cobalt tetroxide appears as black or gray-black particles, is slightly soluble in inorganic acid, and insoluble in water. Cobalt tetroxide has the advantages of uniform particle size, good dispersion, high purity, and high surface activity. It is mainly used to produce lithium cobalt oxide, the battery cathode material.

The production process of cobalt tetroxide is relatively complex and requires processes such as dissolution, filtration and iron removal, synthesis, washing, oxidation and calcination. The synthesis reaction is a key link in the production of cobalt tetroxide and plays a decisive role in product performance. At present, my country’s synthesis process of cobalt tetroxide mainly includes two types: one uses ethylenediaminetetraacetic acid, cobalt chloride and sodium hydroxide as raw materials, adding air during the synthesis process, and finally produces spherical cobalt tetroxide. The products produced by this method It has high tap density and good sphericity, and is favored by many manufacturers; the other uses ammonium bicarbonate and cobalt chloride as raw materials, and is calcined at high temperature to obtain cobalt tetroxide.

Cobalt chloride is the main raw material of cobalt tetroxide and accounts for a large part of its production cost. In recent years, due to the impact of the COVID-19 epidemic, my country’s production companies have suspended production, resulting in a continuous decline in cobalt chloride production. From January to June 2022, my country’s cobalt chloride output reached 22,000 metal tons, a year-on-year decrease of 16.5%. Affected by factors such as insufficient supply of raw materials and weak market demand, the development of my country’s cobalt tetroxide industry has been hindered. According to the “2022-2026 Cobalt Tetroxide Industry Market In-depth Research and Investment Prospect Forecast Analysis Report released by the Industrial Research Center, in 2022 From January to June, my country’s cobalt tetroxide output reached 40,000 tons, a year-on-year decrease of 4.8%.

Lithium cobalt oxide is the largest demand end for cobalt tetroxide. As one of the common lithium battery cathode materials, lithium cobalt oxide has the advantages of long service life, high voltage, and high energy density, and is widely used in the field of consumer electronics. Benefiting from the rapid development of downstream industries, my country’s lithium cobalt oxide shipments continue to increase. In 2021, my country’s lithium cobalt oxide shipments reached 115,000 tons, a year-on-year increase of 32.7%. In this context, cobalt tetroxide, as the main raw material of lithium cobalt oxide, has continued to expand its market size.

my country’s cobalt tetroxide industry is highly concentrated and the market competition is fierce. my country’s leading cobalt tetraoxide companies include Zhejiang Huayou Cobalt Co., Ltd., Hunan Zhongwei New Materials Co., Ltd., and Shenzhen GEM Co., Ltd. The above three companies account for nearly 90.0% of the Chinese market.

Industry analysts said that cobalt tetroxide has excellent performance and is the main raw material of lithium cobalt oxide. As the update and iteration of consumer electronics products continues to accelerate, the market demand for lithium cobalt oxide is increasingly strong, which will provide driving force for the development of my country’s cobalt tetroxide industry. As the severe epidemic situation is gradually brought under control and production companies resume work and production, my country’s cobalt tetroxide output will continue to pick up. Driven by the technological innovation of leading enterprises, the concentration of cobalt tetraoxide industry in my country will continue to increase.