Global Cobalt Market 2025-2029

Cobalt Market 2025-2029

The cobalt market is forecasted to grow by USD 9169.6 mn during 2024-2029, accelerating at a CAGR of 12.9% during the forecast period. The report on the cobalt market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growth of electric vehicle industry, increasing demand for super alloys in aerospace industry, and rise in demand for lightweight materials.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.

Technavio's cobalt market is segmented as below:

By Type

  • Cobalt sulfate
  • Cobalt oxide
  • Cobalt metal
By Application
  • Batteries and electronics
  • Super alloys
  • Pigments
  • Hard materials
  • Others
By Form Factor
  • Chemical compound
  • Metal
  • Purchased scrap
By End-user
  • Electronics
  • Automotive
  • Aerospace
  • Medical
  • Others
By Geographical Landscape
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa
This study identifies the increasing cobalt mining projects as one of the prime reasons driving the cobalt market growth during the next few years. Also, growing focus on renewable energy and rising recyclability of cobalt will lead to sizable demand in the market.

The report on the cobalt market covers the following areas:
  • Cobalt Market sizing
  • Cobalt Market forecast
  • Cobalt Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading cobalt market vendors that include Ambatovy, Anglo American plc, BHP Group Ltd., China Group Ltd., Electra Battery Materials Corp., Eramet, Eurasian Resources Group Sarl, European Cobalt Ltd., Freeport McMoRan Inc., Glencore Plc, Huayou Cobalt Co. Ltd., Jervois Global Ltd., Missouri Cobalt LLC, MMG Ltd., PJSC MMC Norilsk Nickel, Red Rock Resources plc, Sherritt International Corp., Sumitomo Metal Mining Co. Ltd., Umicore SA, and Vale SA. Also, the cobalt market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.


  • Executive Summary
    • Market overview
      • Table Executive Summary - Data Table on Market Overview
      • Table Executive Summary - Data Table on Incremental Growth
  • Technavio Analysis
    • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
    • Criticality of inputs and Factors of differentiation
    • Factors of disruption
    • Impact of drivers and challenges
  • Market Landscape
    • Market ecosystem
      • Table Data Table on - Parent Market
    • Market characteristics
    • Value chain analysis
  • Market Sizing
    • Market definition
    • Market segment analysis
    • Market size 2024
    • Market outlook: Forecast for 2024-2029
      • Table Data Table on Global - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Global Market: Year-over-year growth 2024-2029 (%)
  • Historic Market Size
    • Global Cobalt Market 2019 - 2023
      • Table Historic Market Size - Data Table on Global Cobalt Market 2019 - 2023 ($ million)
    • Type segment analysis 2019 - 2023
    • Application segment analysis 2019 - 2023
    • Form Factor segment analysis 2019 - 2023
    • End-user segment analysis 2019 - 2023
    • Geography segment analysis 2019 - 2023
    • Country segment analysis 2019 - 2023
  • Qualitative Analysis
    • Impact of AI on global cobalt market
  • Five Forces Analysis
    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition
  • Market Segmentation by Type
    • Market segments
      • Table Data Table on Type - Market share 2024-2029 (%)
    • Comparison by Type
      • Table Data Table on Comparison by Type
    • Cobalt sulfate - Market size and forecast 2024-2029
      • Table Data Table on Cobalt sulfate - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Cobalt sulfate - Year-over-year growth 2024-2029 (%)
    • Cobalt oxide - Market size and forecast 2024-2029
      • Table Data Table on Cobalt oxide - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Cobalt oxide - Year-over-year growth 2024-2029 (%)
    • Cobalt metal - Market size and forecast 2024-2029
      • Table Data Table on Cobalt metal - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Cobalt metal - Year-over-year growth 2024-2029 (%)
    • Market opportunity by Type
      • Table Data Table on Market opportunity by Type ($ million)
  • Market Segmentation by Application
    • Market segments
      • Table Data Table on Application - Market share 2024-2029 (%)
    • Comparison by Application
      • Table Data Table on Comparison by Application
    • Batteries and electronics - Market size and forecast 2024-2029
      • Table Data Table on Batteries and electronics - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Batteries and electronics - Year-over-year growth 2024-2029 (%)
    • Super alloys - Market size and forecast 2024-2029
      • Table Data Table on Super alloys - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Super alloys - Year-over-year growth 2024-2029 (%)
    • Pigments - Market size and forecast 2024-2029
      • Table Data Table on Pigments - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Pigments - Year-over-year growth 2024-2029 (%)
    • Hard materials - Market size and forecast 2024-2029
      • Table Data Table on Hard materials - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Hard materials - Year-over-year growth 2024-2029 (%)
    • Others - Market size and forecast 2024-2029
      • Table Data Table on Others - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Others - Year-over-year growth 2024-2029 (%)
    • Market opportunity by Application
      • Table Data Table on Market opportunity by Application ($ million)
  • Market Segmentation by Form Factor
    • Market segments
      • Table Data Table on Form Factor - Market share 2024-2029 (%)
    • Comparison by Form Factor
      • Table Data Table on Comparison by Form Factor
    • Chemical compound - Market size and forecast 2024-2029
      • Table Data Table on Chemical compound - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Chemical compound - Year-over-year growth 2024-2029 (%)
    • Metal - Market size and forecast 2024-2029
      • Table Data Table on Metal - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Metal - Year-over-year growth 2024-2029 (%)
    • Purchased scrap - Market size and forecast 2024-2029
      • Table Data Table on Purchased scrap - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Purchased scrap - Year-over-year growth 2024-2029 (%)
    • Market opportunity by Form Factor
      • Table Data Table on Market opportunity by Form Factor ($ million)
  • Market Segmentation by End-user
    • Market segments
      • Table Data Table on End-user - Market share 2024-2029 (%)
    • Comparison by End-user
      • Table Data Table on Comparison by End-user
    • Electronics - Market size and forecast 2024-2029
      • Table Data Table on Electronics - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Electronics - Year-over-year growth 2024-2029 (%)
    • Automotive - Market size and forecast 2024-2029
      • Table Data Table on Automotive - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Automotive - Year-over-year growth 2024-2029 (%)
    • Aerospace - Market size and forecast 2024-2029
      • Table Data Table on Aerospace - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Aerospace - Year-over-year growth 2024-2029 (%)
    • Medical - Market size and forecast 2024-2029
      • Table Data Table on Medical - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Medical - Year-over-year growth 2024-2029 (%)
    • Others - Market size and forecast 2024-2029
      • Table Data Table on Others - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Others - Year-over-year growth 2024-2029 (%)
    • Market opportunity by End-user
      • Table Data Table on Market opportunity by End-user ($ million)
  • Customer Landscape
    • Customer landscape overview
  • Geographic Landscape
    • Geographic segmentation
      • Table Data Table on Market share by geography 2024-2029 (%)
    • Geographic comparison
      • Table Data Table on Geographic comparison
    • APAC - Market size and forecast 2024-2029
      • Table Data Table on APAC - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on APAC - Year-over-year growth 2024-2029 (%)
    • North America - Market size and forecast 2024-2029
      • Table Data Table on North America - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on North America - Year-over-year growth 2024-2029 (%)
    • Europe - Market size and forecast 2024-2029
      • Table Data Table on Europe - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Europe - Year-over-year growth 2024-2029 (%)
    • South America - Market size and forecast 2024-2029
      • Table Data Table on South America - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on South America - Year-over-year growth 2024-2029 (%)
    • Middle East and Africa - Market size and forecast 2024-2029
      • Table Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)
    • China - Market size and forecast 2024-2029
      • Table Data Table on China - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on China - Year-over-year growth 2024-2029 (%)
    • US - Market size and forecast 2024-2029
      • Table Data Table on US - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on US - Year-over-year growth 2024-2029 (%)
    • Japan - Market size and forecast 2024-2029
      • Table Data Table on Japan - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Japan - Year-over-year growth 2024-2029 (%)
    • Russia - Market size and forecast 2024-2029
      • Table Data Table on Russia - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Russia - Year-over-year growth 2024-2029 (%)
    • India - Market size and forecast 2024-2029
      • Table Data Table on India - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on India - Year-over-year growth 2024-2029 (%)
    • Australia - Market size and forecast 2024-2029
      • Table Data Table on Australia - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Australia - Year-over-year growth 2024-2029 (%)
    • Brazil - Market size and forecast 2024-2029
      • Table Data Table on Brazil - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Brazil - Year-over-year growth 2024-2029 (%)
    • South Korea - Market size and forecast 2024-2029
      • Table Data Table on South Korea - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on South Korea - Year-over-year growth 2024-2029 (%)
    • UK - Market size and forecast 2024-2029
      • Table Data Table on UK - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on UK - Year-over-year growth 2024-2029 (%)
    • Canada - Market size and forecast 2024-2029
      • Table Data Table on Canada - Market size and forecast 2024-2029 ($ million)
      • Table Data Table on Canada - Year-over-year growth 2024-2029 (%)
    • Market opportunity by geography
      • Table Data Tables on Market opportunity by geography ($ million)
  • Drivers, Challenges, and Opportunity/Restraints
    • Market drivers
      • Growth of electric vehicle industry
      • Increasing demand for super alloys in aerospace industry
      • Rise in demand for lightweight materials
    • Market challenges
      • Harmful effects of cobalt
      • Increasing dependency on cobalt primary products and major reserve
      • Availability of substitutes for cobalt
    • Impact of drivers and challenges
    • Market opportunities/restraints
      • Increasing cobalt mining projects
      • Growing focus on renewable energy
      • Rising recyclability of cobalt
  • Competitive Landscape
    • Overview
    • Competitive Landscape
    • Landscape disruption
    • Industry risks
  • Competitive Analysis
    • Companies profiled
    • Company ranking index
    • Market positioning of companies
    • Ambatovy
    • BHP Group Ltd.
    • China Group Ltd.
    • Electra Battery Materials Corp.
    • Eramet
    • Eurasian Resources Group Sarl
    • European Cobalt Ltd.
    • Freeport McMoRan Inc.
    • Glencore Plc
    • Jervois Global Ltd.
    • Missouri Cobalt LLC
    • Red Rock Resources plc
    • Sherritt International Corp.
    • Sumitomo Metal Mining Co. Ltd.
    • Umicore SA
  • Appendix
    • Scope of the report
      • Market definition
      • Objectives
      • Notes and caveats
    • Inclusions and exclusions checklist
    • Currency conversion rates for US$
    • Research methodology
    • Data procurement
    • Data validation
    • Validation techniques employed for market sizing
    • Data synthesis
    • 360 degree market analysis
    • List of abbreviations

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