Talk to our Consultant - Cobalt Market Analysis: Trends, Growth & Forecast 2024-2030

Global Cobalt Market Research Report: Forecast (2024-2030)

Global Cobalt Market Report - By Application (Battery Chemicals, Super Alloys, Catalyst, Ceramics & Pigments, Binder Materials), By Form (Chemical Compound, Metal, Purchased Scrap), By End User (Elect... ... , By End User (Electronics, Aerospace, Automotive, Chemical, Pharmaceutical, Others). Read more

Chemicals
Oct 2023
Pages 199
Report Format: PDF, Excel, PPT

Market Definition

Cobalt is a hard ferromagnetic, silver-white, hard, lustrous, brittle element obtained from the mining of nickel and copper ores. It has wide applications in the production of electric vehicles, aircraft engines, catalysts, ceramics, and pigments.

Market Insights & Analysis: Global Cobalt Market (2024-30):

The Global Cobalt Market size is estimated to grow at a CAGR of around 6.2% during the forecast period, i.e., 2024-30. The growing demand for electric vehicles is expected to increase the consumption of cobalt during the forecast period. The lithium-nickel-manganese-cobalt-oxide (NMC) batteries are often referred to as cobalt batteries. The cobalt used in batteries of laptops and smartphones positively impacts the market growth. The cobalt-based super-alloys are most often used in jet engines, gas turbine aircraft engines, and rocket motors, due to their stability at high temperatures.

Report Coverage	Details
Study Period	Historical Data: 2019-22
	Base Year: 2023
	Forecast Period: 2024-30
CAGR (2024-2030)	6.2%
Regions Covered	North America: US, Canada, Mexico
	Europe: The UK, Germany, France, Italy, Spain, The Netherlands, Belgium, Rest of Europe
	Asia-Pacific: China, Japan, India, South Korea, Australia, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific
	South America: Brazil, Argentina, Rest of South America
	Middle East & Africa: The UAE, Saudi Arabia, South Africa, Egypt, Turkey, Rest of the Middle East & Africa
Key Companies Profiled	Glencore Plc., Missouri Cobalt, Jinchuan Group International Ltd., CMOC Group, Eurasian Resources Group, Huayou Cobalt, Sumitomo Cobalt Mining, Cobalt Blue Holdings, Panoramic Resources Ltd., Sherritt International, Nornickel, Nickel 28 Capital Corp., Groupe Managem, Carter Alloy Company, Others
Unit Denominations	USD Million/Billion

The cobalt industry is also aided by the growing demand for metal in the production of high-speed cutting tools for cutting diamonds, which is extremely hard. The cobalt is used as a catalyst for many industrial applications such as removing sulfur moieties from petroleum and natural gas products. In recent years, lithium-ion batteries for electric vehicles (EVs) are increasingly driving the cobalt market and are likely to boost the market in the forecast period as well.

Cobalt Market Driver:

Escalating Demand for Electric Vehicles Augmenting the Market Growth – In the past few years, consumers have shifted towards electric vehicles due to the increase in price of petrol and diesel. Due to this, the demand for electric vehicles has increased, the batteries of electric vehicles have cobalt in them, which increases the demand for cobalt. According to the International Energy Agency (IEA), electric vehicles are seeing exponential growth and are expected to grow from approximately 140 million by 2030 and reach 900 million by 2050. This growing number of electric vehicles would increase the Global Cobalt Market Size in the forthcoming years.

Global Cobalt Market Research Report (2024-2030) - Table of Contents

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
Global Cobalt Market Trends & Insights
Global Cobalt Market Import/Export Analyses
Global Cobalt Market Dynamics
1. Drivers
2. Challenges
Global Cobalt Market Policies & Regulations
Global Cobalt Market Hotspot & Opportunities
Global Cobalt Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. Quantity Sold (Thousand Tons)
2. Market Share & Analysis
  1. By Application
    1. Battery Chemicals - Market Size & Forecast 2019-2030F, Thousand Tons
    2. Super Alloys- Market Size & Forecast 2019-2030F, Thousand Tons
    3. Catalyst - Market Size & Forecast 2019-2030F, Thousand Tons
    4. Ceramics & Pigments- Market Size & Forecast 2019-2030F, Thousand Tons
    5. Binder Materials- Market Size & Forecast 2019-2030F, Thousand Tons
  2. By Form
    1. Chemical Compound- Market Size & Forecast 2019-2030F, Thousand Tons
    2. Metal- Market Size & Forecast 2019-2030F, Thousand Tons
    3. Purchased Scrap- Market Size & Forecast 2019-2030F, Thousand Tons
  3. By End User
    1. Electronics- Market Size & Forecast 2019-2030F, Thousand Tons
    2. Aerospace- Market Size & Forecast 2019-2030F, Thousand Tons
    3. Automotive- Market Size & Forecast 2019-2030F, Thousand Tons
    4. Chemical- Market Size & Forecast 2019-2030F, Thousand Tons
    5. Pharmaceutical- Market Size & Forecast 2019-2030F, Thousand Tons
    6. Others (Oil & Gas)- Market Size & Forecast 2019-2030F, Thousand Tons
  4. By Region
    1. North America
    2. South America
    3. Europe
    4. The Middle East & Africa
    5. Asia-Pacific
  5. By Company
    1. Competition Characteristics
    2. Market Share of Leading Companies
North America Cobalt Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. Quantity Sold (Thousand Tons)
2. Market Share & Analysis
  1. By Application- Market Size & Forecast 2019-2030, Thousand Tons
  2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
  3. By End User- Market Size & Forecast 2019-2030, Thousand Tons
  4. By Country
    1. The US
    2. Canada
    3. Mexico
3. The US Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
4. Canada Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
5. Mexico Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
South America Cobalt Market Outlook, 2019-2030Fpro
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. Quantity Sold (Thousand Tons)
2. Market Share & Analysis
  1. By Application- Market Size & Forecast 2019-2030, Thousand Tons
  2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
  3. By End User- Market Size & Forecast 2019-2030, Thousand Tons
  4. By Country
    1. Brazil
    2. Argentina
    3. Rest of South America
3. Brazil Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
4. Argentina Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
Europe Cobalt Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. Quantity Sold (Thousand Tons)
2. Market Share & Analysis
  1. By Application- Market Size & Forecast 2019-2030, Thousand Tons
  2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
  3. By End User- Market Size & Forecast 2019-2030, Thousand Tons
  4. By Country
    1. The UK
    2. Germany
    3. France
    4. Italy
    5. Spain
    6. The Netherlands
    7. Belgium
    8. Rest of Europe
3. The UK Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
4. Germany Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
5. France Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
6. Italy Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
7. Spain Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application- Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
8. Belgium Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application- Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
9. The Netherlands Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application- Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
The Middle East & Africa Cobalt Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. Quantity Sold (Thousand Tons)
2. Market Share & Analysis
  1. By Application- Market Size & Forecast 2019-2030, Thousand Tons
  2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
  3. By End User- Market Size & Forecast 2019-2030, Thousand Tons
  4. By Country
    1. The UAE
    2. Saudi Arabia
    3. South Africa
    4. Egypt
    5. Turkey
    6. Rest of the Middle East & Africa
3. The UAE Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
4. Saudi Arabia Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
5. South Africa Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
6. Egypt Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
7. Turkey Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
Asia-Pacific Cobalt Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. Quantity Sold (Thousand Tons)
2. Market Share & Analysis
  1. By Application- Market Size & Forecast 2019-2030, Thousand Tons
  2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
  3. By End User- Market Size & Forecast 2019-2030, Thousand Tons
  4. By Country
    1. China
    2. Japan
    3. India
    4. South Korea
    5. Australia
    6. Malaysia
    7. Thailand
    8. Indonesia
    9. Philippines
    10. Rest of Asia-Pacific
3. China Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application- Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
4. Japan Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application- Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
5. India Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application- Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
6. South Korea Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
7. Australia Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
8. Malaysia Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
9. Thailand Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
10. Indonesia Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thousand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
11. Philippines Cobalt Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
    2. Quantity Sold (Thou sand Tons)
  2. Market Share & Analysis
    1. By Application - Market Size & Forecast 2019-2030, Thousand Tons
    2. By Form- Market Size & Forecast 2019-2030, Thousand Tons
Global Cobalt Market Strategic Imperatives for Success & Growth
Competitive Outlook
1. Company Profiles
  1. Glencore Plc
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. Missouri Cobalt
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Jinchuan Group International Co., Ltd
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. CMOC Group
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. Eurasian Resources Group
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  6. Huayou Cobalt
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  7. Sumitomo Cobalt Mining
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  8. Cobalt Blue Holdings Limited
    1. Product Portfolio
    2. Strategic Alliances or Partnerships
    3. Recent Developments
    4. Financial Details
    5. Others
  9. Panoramic Resources Ltd.
    1. Product Portfolio
    2. Strategic Alliances or Partnerships
    3. Recent Developments
    4. Financial Details
    5. Others
  10. Sherritt International
    1. Product Portfolio
    2. Strategic Alliances or Partnerships
    3. Recent Developments
    4. Financial Details
    5. Others
  11. Nornickel
    1. Product Portfolio
    2. Strategic Alliances or Partnerships
    3. Recent Developments
    4. Financial Details
    5. Others
  12. Nickel 28 Capital Corp.
    1. Product Portfolio
    2. Strategic Alliances or Partnerships
    3. Recent Developments
    4. Financial Details
    5. Others
  13. Groupe Managem
    1. Product Portfolio
    2. Strategic Alliances or Partnerships
    3. Recent Developments
    4. Financial Details
    5. Others
  14. Carter Alloy Company
    1. Product Portfolio
    2. Strategic Alliances or Partnerships
    3. Recent Developments
    4. Financial Details
    5. Others
  15. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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