Over the last few years, there has been significant growth in the cobalt industry. The rising need for new energy vehicle batteries is assisting the cobalt industry's global expansion. Batteries have become a major end-use for cobalt, which has recently expanded dramatically. The major application sector for cobalt is battery production, which uses 41% of the metal. Alloys and tool metals account for around a quarter of all product applications.
Frequently Asked Questions
The market is segmented based on Segmentation, By Form (Chemical Compound, Metal, Purchased Scrap), Application (Battery Chemicals, Super Alloy, Ceramic and Pigments, Hard Metals, Magnets, Life Science, Binder Material), End User (Electronics, Automotive, Aerospace, Medical) – Industry Trends and Forecast to 2032.
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The Global Cobalt Market size was valued at USD 12.42 USD Billion in 2024.
The Global Cobalt Market is projected to grow at a CAGR of 12.9% during the forecast period of 2025 to 2032.
The market report covers data from the U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
