The Market Reports

Synopsis
The global market for Cobalt was estimated to be worth US$ 10830 million in 2024 and is forecast to a readjusted size of US$ 18380 million by 2031 with a CAGR of 8.2% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Cobalt cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
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.
This report aims to provide a comprehensive presentation of the global market for Cobalt, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Cobalt by region & country, by Type, and by Application.
The Cobalt market size, estimations, and forecasts are provided in terms of sales volume (MT) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Cobalt.
Market Segmentation
By Company
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
Segment by Type
Electrolytic Cobalt
Cobalt Powder
Segment by Application
Cobalt-based Alloys
Permanent Magnetic Materials
Catalyst
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Cobalt manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Cobalt in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Cobalt in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index