The latest report titled “Cobalt Chloride Production” by Procurement Resource, a global procurement research and consulting firm, provides an in-depth cost analysis of the production process of Cobalt Chloride.
Procurement Resource study is based on the latest prices and other economic data available. It also offers additional analysis of the report with detailed breakdown of all cost components (capital investment details, production cost details, economics for another plant location, dynamic cost model). In addition, the report incorporates the production process with detailed process and material flow, capital investment, operating costs along with financial expenses and depreciation charges.
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Procurement Resource’s detailed report describes the stepwise consumption of material and utilities along with a detailed process flow diagram. Furthermore, the study assesses the latest developments within the industry that might influence Cobalt Chloride production cost, looking into capacity expansions, plant turnarounds, mergers, acquisitions, and investments.
Procurement Resource Assessment of Cobalt Chloride Production Process:
1. From Chemical Reaction of Cobalt, Oxides, Hydroxides or Carbonate with Hydrochloric acid: This report presents the detailed production methodology and cost analysis of Cobalt Chloride industrial production across Cobalt Chloride manufacturing plants. Cobalt chloride can be synthesized through various processes, including the reaction of cobalt metal, cobalt oxide, or cobalt hydroxide with hydrochloric acid. This reaction yields cobalt chloride as the end product, along with the formation of water. Similarly, when cobalt carbonate is subjected to hydrochloric acid, the result is the production of cobalt chloride, accompanied by the generation of water and carbon dioxide as final products.
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2. From Chemical Reaction of Cobalt metal with Chlorine: This report provides the thorough economics of Cobalt Chloride industrial production across Cobalt Chloride manufacturing plants. The manufacturing process initiates with the controlled reaction of the metal and chlorine gas. This reaction leads to the formation of cobalt chloride as the ultimate product.
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3. From Dehydration of Cobalt Hexahydrate using Thionyl Chloride: This report presents the extensive cost requirement of Cobalt Chloride industrial production across Cobalt Chloride manufacturing plants. The process is initiated by mixing cobalt hexahydrate with thionyl chloride. Thionyl chloride reacts with the compound, eliminating water molecules and yielding cobalt chloride as the end product.
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Product Definition:
Cobalt chloride, often known as cobalt(II) chloride, is a chemical compound composed of cobalt and chlorine atoms. It exists in various forms, with the pink hexahydrate being one of the most common. Cobalt chloride is widely used in a variety of applications, including as a humidity indicator due to its color-changing properties, in electroplating processes, and as a catalyst in chemical reactions. Additionally, it plays a role in certain industrial processes and as a source of cobalt for the production of other cobalt compounds. Its versatility and distinctive color make it a valuable compound in both industrial and laboratory settings.
Market Drivers:
The market drivers for cobalt chloride are influenced by its diverse applications across several industries. Firstly, the rapidly growing electric vehicle (EV) market is a major driver. Cobalt chloride is used in the production of lithium-ion batteries, which power EVs. As the demand for clean energy and electric vehicles surges, the need for efficient battery technologies, and subsequently cobalt chloride, increases. Secondly, the chemical industry relies on cobalt chloride as a catalyst in various processes, contributing to its demand. Lastly, cobalt chloride is also utilized in humidity-indicating products, which are essential for moisture-sensitive industries, including electronics and pharmaceuticals. These factors collectively drive the market for cobalt chloride as industries seek solutions for energy storage, chemical production, and moisture control.
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