Cobalt Free Batteries Market Report 2026

The cobalt free batteries market size has grown rapidly in recent years. It will grow from $1.49 billion in 2025 to $1.69 billion in 2026 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to expansion of lithium-ion battery manufacturing capacity, volatility in cobalt supply chains, rising demand for electric vehicles, early adoption of lfp batteries in energy storage, increased focus on battery safety standards.

The cobalt free batteries market size is expected to see rapid growth in the next few years. It will grow to $2.79 billion in 2030 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to expansion of electric mobility adoption, rising investments in next-generation battery chemistries, increasing demand for stationary energy storage, growing focus on ethical sourcing, technological improvements in battery energy density. Major trends in the forecast period include increasing adoption of lfp battery chemistries, rising focus on thermal safety improvements, growing demand for cost-stable battery materials, expansion of cobalt-free ev battery platforms, enhanced focus on supply chain ethics.

The increasing adoption of electric vehicles (EVs) is expected to drive growth in the cobalt-free battery market going forward. EVs are powered by electric motors using rechargeable batteries instead of traditional internal combustion engines. Adoption is rising due to environmental awareness, government incentives, advancements in battery technology, and expanding charging infrastructure. Cobalt-free batteries use alternative chemistries to reduce reliance on cobalt, addressing ethical sourcing concerns and lowering EV production costs. These innovations improve sustainability and performance, making EVs more affordable and appealing to environmentally conscious consumers. For instance, in January 2024, according to Kelley Blue Book, a US-based vehicle valuation and automotive research company, a record 1.2 million U.S. car buyers chose electric vehicles in 2023, representing 7.6% of the total U.S. vehicle market, up from 5.9% in 2022. Therefore, growing EV adoption is driving the cobalt-free battery market.

Leading companies in the cobalt-free battery market are developing advanced solutions such as high-power performance cobalt-free batteries to address environmental and efficiency challenges associated with traditional battery technologies. High-power performance cobalt-free batteries are energy storage systems that deliver high power output without using cobalt. For instance, in November 2023, Toshiba Corporation, a Japan-based electronics company, launched a new cobalt-free lithium-ion battery featuring a 5V-class high-potential cathode with low nickel content. This battery delivers over 3V, enables rapid charging up to 80% in just five minutes, operates efficiently at temperatures up to 60°C, reduces gas generation through advanced cathode surface modifications, and improves durability while minimizing battery swelling.

In February 2025, Altech Batteries Limited, an Australia-based provider of advanced battery technologies and energy storage solutions, acquired CERENERGY(R) Battery Project and Silumina Anodes™ Project for A$23.3 million. This acquisition consolidates Altech’s ownership of its core battery technology platforms, streamlining governance and accelerating the development and commercialization of next-generation sodium-based and high-capacity anode batteries. CERENERGY(R) is a Germany-based project developing sodium-chloride solid-state battery systems for grid-scale energy storage, while Silumina Anodes™ is a Germany-based project producing high-purity alumina-coated silicon/anode materials to enhance lithium-ion battery energy density and cycle life.

Major companies operating in the cobalt free batteries market are Stellantis NV, BYD Company Ltd., Panasonic Corporation, SK Innovation Co. Ltd., Contemporary Amperex Technology Co. Ltd., Toshiba Corporation, LG Energy Solution, Samsung SDI Co. Ltd., Murata Manufacturing Co. Ltd., EVE Energy Co. Ltd., Northvolt AB, QuantumScape Battery Inc., Sila Nanotechnologies Inc., China Aviation Lithium Battery Co. Ltd., Solid Power Inc., Bharat Power Solutions, Tianjin Lishen Battery Joint-Stock Co. Ltd., Conamix Inc., Ufine Battery, Karacus Energy Pvt. Ltd.

North America was the largest region in the cobalt-free batteries market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cobalt free batteries market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cobalt free batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cobalt-free batteries market consists of sales of nickel manganese (NMC) batteries, sodium-ion batteries, and solid-state batteries. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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