Global Cobalt Market Growth 2025-2031
Description
The global Cobalt market size is predicted to grow from US$ 11200 million in 2025 to US$ 18280 million in 2031; it is expected to grow at a CAGR of 8.5% from 2025 to 2031.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
Cobalt is a hard, lustrous, silver-gray metal. It is found only in chemically combined form in the Earth's crust, so cobalt metal is extracted by human from cobalt ore.
The cobalt market is a strategically vital component of the global metals industry, largely due to cobalt's essential role in the production of rechargeable lithium-ion batteries. These batteries power a wide range of applications, from smartphones and laptops to electric vehicles (EVs) and energy storage systems. As the world accelerates its transition toward clean energy and electric mobility, demand for cobalt has intensified, positioning it as a critical mineral in the push for decarbonization. Beyond batteries, cobalt is also used in high-performance alloys, catalysts, and magnets, supporting industries such as aerospace, defense, and chemical processing.
However, the cobalt market faces notable challenges tied to supply chain concentration and ethical sourcing concerns. A significant portion of global cobalt production originates from the Democratic Republic of the Congo, where issues related to labor practices, environmental degradation, and geopolitical risk are under increasing scrutiny. These factors have spurred efforts to diversify supply through recycling, new mining projects in other regions, and research into cobalt-free battery technologies. As a result, while demand for cobalt remains strong, the market is evolving under pressure to ensure both sustainability and supply security.
LP Information, Inc. (LPI) ' newest research report, the “Cobalt Industry Forecast” looks at past sales and reviews total world Cobalt sales in 2024, providing a comprehensive analysis by region and market sector of projected Cobalt sales for 2025 through 2031. With Cobalt sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Cobalt industry.
This Insight Report provides a comprehensive analysis of the global Cobalt landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Cobalt portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Cobalt market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Cobalt and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Cobalt.
This report presents a comprehensive overview, market shares, and growth opportunities of Cobalt market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Electrolytic Cobalt
Cobalt Powder
Segmentation by Application:
Cobalt-based Alloys
Permanent Magnetic Materials
Catalyst
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Green Eco-Manufacturer
Jinchuan Group
Hanrui Cobalt
Nantong Xinwei Nickel & Cobalt
Yantai CASH Industrial
Umicore
Shandong Jinling Mining
Green Eco-Manufacturer
Huayou Cobalt
Jinchuan Group
Hanrui Cobalt
Galico
Nantong Xinwei Nickel & Cobalt
Ganzhou Tengyuan Cobalt Industrial
ALT Cobalt & Nickel Products
Jilin Jien Nickel Industry
Key Questions Addressed in this Report
What is the 10-year outlook for the global Cobalt market?
What factors are driving Cobalt market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Cobalt market opportunities vary by end market size?
How does Cobalt break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
Cobalt is a hard, lustrous, silver-gray metal. It is found only in chemically combined form in the Earth's crust, so cobalt metal is extracted by human from cobalt ore.
The cobalt market is a strategically vital component of the global metals industry, largely due to cobalt's essential role in the production of rechargeable lithium-ion batteries. These batteries power a wide range of applications, from smartphones and laptops to electric vehicles (EVs) and energy storage systems. As the world accelerates its transition toward clean energy and electric mobility, demand for cobalt has intensified, positioning it as a critical mineral in the push for decarbonization. Beyond batteries, cobalt is also used in high-performance alloys, catalysts, and magnets, supporting industries such as aerospace, defense, and chemical processing.
However, the cobalt market faces notable challenges tied to supply chain concentration and ethical sourcing concerns. A significant portion of global cobalt production originates from the Democratic Republic of the Congo, where issues related to labor practices, environmental degradation, and geopolitical risk are under increasing scrutiny. These factors have spurred efforts to diversify supply through recycling, new mining projects in other regions, and research into cobalt-free battery technologies. As a result, while demand for cobalt remains strong, the market is evolving under pressure to ensure both sustainability and supply security.
LP Information, Inc. (LPI) ' newest research report, the “Cobalt Industry Forecast” looks at past sales and reviews total world Cobalt sales in 2024, providing a comprehensive analysis by region and market sector of projected Cobalt sales for 2025 through 2031. With Cobalt sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Cobalt industry.
This Insight Report provides a comprehensive analysis of the global Cobalt landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Cobalt portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Cobalt market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Cobalt and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Cobalt.
This report presents a comprehensive overview, market shares, and growth opportunities of Cobalt market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Electrolytic Cobalt
Cobalt Powder
Segmentation by Application:
Cobalt-based Alloys
Permanent Magnetic Materials
Catalyst
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Green Eco-Manufacturer
Jinchuan Group
Hanrui Cobalt
Nantong Xinwei Nickel & Cobalt
Yantai CASH Industrial
Umicore
Shandong Jinling Mining
Green Eco-Manufacturer
Huayou Cobalt
Jinchuan Group
Hanrui Cobalt
Galico
Nantong Xinwei Nickel & Cobalt
Ganzhou Tengyuan Cobalt Industrial
ALT Cobalt & Nickel Products
Jilin Jien Nickel Industry
Key Questions Addressed in this Report
What is the 10-year outlook for the global Cobalt market?
What factors are driving Cobalt market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Cobalt market opportunities vary by end market size?
How does Cobalt break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
143 Pages
- *This is a tentative TOC and the final deliverable is subject to change.*
- 1 Scope of the Report
- 2 Executive Summary
- 3 Global by Company
- 4 World Historic Review for Cobalt by Geographic Region
- 5 Americas
- 6 APAC
- 7 Europe
- 8 Middle East & Africa
- 9 Market Drivers, Challenges and Trends
- 10 Manufacturing Cost Structure Analysis
- 11 Marketing, Distributors and Customer
- 12 World Forecast Review for Cobalt by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
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