The global market for Cobalt is estimated at 169.8 Thousand Tons in 2023 and is projected to reach 301.0 Thousand Tons by 2030, growing at a CAGR of 8.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The importance of cobalt extends beyond the EV market; it is also considered vital for national defense and other industrial applications in the US and EU. This broad utility underscores the potential for continued investments in the cobalt supply chain, ranging from exploration and mining to processing and recycling, ensuring a sustainable and ethically responsible supply of cobalt in the future. A key strend influencing the cobalt market is the ethical sourcing and sustainability of cobalt mining. Cobalt mining at various mining zone, has been associated with significant human rights and environmental concerns. This has led to increased scrutiny and a push towards more ethical sourcing practices. Companies are being compelled to establish transparent supply chains and are exploring recycling technologies to recover cobalt from used batteries, which not only addresses ethical concerns but also helps in managing supply security amid growing demand. This shift is expected to influence market dynamics significantly, as stakeholders across the supply chain implement more sustainable and responsible mining practices.
The importance of cobalt extends beyond the EV market; it is also considered vital for national defense and other industrial applications in the US and EU. This broad utility underscores the potential for continued investments in the cobalt supply chain, ranging from exploration and mining to processing and recycling, ensuring a sustainable and ethically responsible supply of cobalt in the future. A key strend influencing the cobalt market is the ethical sourcing and sustainability of cobalt mining. Cobalt mining at various mining zone, has been associated with significant human rights and environmental concerns. This has led to increased scrutiny and a push towards more ethical sourcing practices. Companies are being compelled to establish transparent supply chains and are exploring recycling technologies to recover cobalt from used batteries, which not only addresses ethical concerns but also helps in managing supply security amid growing demand. This shift is expected to influence market dynamics significantly, as stakeholders across the supply chain implement more sustainable and responsible mining practices.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Batteries segment, which is expected to reach 106.7 Thousand Tons by 2030 with a CAGR of a 9.1%. The Alloys segment is also set to grow at 10.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at 44.4 Thousand Tons in 2023, and China, forecasted to grow at an impressive 12.6% CAGR to reach 76.1 Thousand Tons by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Cobalt Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Cobalt Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Cobalt Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as China Molybdenum Co., Ltd., Glencore International AG, Jinchuan Group International Resources Co., Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 126 Featured):
- China Molybdenum Co., Ltd.
- Glencore International AG
- Jinchuan Group International Resources Co., Ltd.
- PJSC MMC Norilsk Nickel
- Sherritt International Corporation
- Vale SA
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISSOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- China Molybdenum Co., Ltd.
- Glencore International AG
- Jinchuan Group International Resources Co., Ltd.
- PJSC MMC Norilsk Nickel
- Sherritt International Corporation
- Vale SA
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 209 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value in 2023 | 169.8 Thousand Tons |
| Forecasted Market Value by 2030 | 301 Thousand Tons |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Global |
