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.