MarkNtel Advisors, a leading market research and consulting firm, has announced the release of its latest study titled Cobalt Market Research Report: Forecast (2024–2030). This report provides a detailed assessment of the Cobalt, covering its evolving dynamics, emerging trends, key growth drivers, major challenges, and competitive landscape.
Designed to guide investors, stakeholders, and business leaders, the research aims to deliver valuable insights for strategic planning, risk assessment, and investment decision-making in the years ahead.
Market Timeline Overview
- Historical Years: 2019–22
- Base Year: 2023
- Forecast Years: 2024–30
This helps businesses identify emerging opportunities, assess market risks, and develop data-driven strategies for long-term success.
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In case you missed it, we are currently revising our reports. Click on the below to get the latest research data with forecast for years 2026 to 2032, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report.
Cobalt Market Outlook
The Global Cobalt Market size is estimated to grow at a CAGR of around 6.2% during the forecast period, i.e., 2024-30. The growing demand for electric vehicles is expected to increase the consumption of cobalt during the forecast period. The lithium-nickel-manganese-cobalt-oxide (NMC) batteries are often referred to as cobalt batteries. The cobalt used in batteries of laptops and smartphones positively impacts the market growth. The cobalt-based super-alloys are most often used in jet engines, gas turbine aircraft engines, and rocket motors, due to their stability at high temperatures.
Cobalt Market Drivers:
Escalating Demand for Electric Vehicles Augmenting the Market Growth – In the past few years, consumers have shifted towards electric vehicles due to the increase in price of petrol and diesel. Due to this, the demand for electric vehicles has increased, the batteries of electric vehicles have cobalt in them, which increases the demand for cobalt. According to the International Energy Agency (IEA), electric vehicles are seeing exponential growth and are expected to grow from approximately 140 million by 2030 and reach 900 million by 2050. This growing number of electric vehicles would increase the Global Cobalt Market Size in the forthcoming years.
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Cobalt Market Trends:
The Increasing Inclination of the Aerospace Industry Towards Cobalt-Based Alloys for Engines – In recent years, there has been a rise in the usage of cobalt metal to make super alloys in the aerospace industry for making gas turbines aircraft engines, rocket motors, etc. Cobalt is widely employed in jet aircraft, such as in brakes and wheels, due to its stability at high temperatures, corrosion, and wear-and-tear resistance. The aviation industry is using cobalt to make parts that are frequently exposed to high concentrations of heat. Due to these factors, the aviation industry is widely deploying cobalt in aircraft. Hence, as a result, the demand for cobalt in the aviation industry is increasing and will continue to increase in the forthcoming years due to its several properties.
Cobalt Market Segmentation
The study categorizes the Cobalt into various segments and sub-segments, each analyzed for its size, growth potential, and contribution to the overall industry.
By Application
- Battery Chemicals - Market Size & Forecast 2019-2030F, Thousand Tons
- Super Alloys- Market Size & Forecast 2019-2030F, Thousand Tons
- Catalyst - Market Size & Forecast 2019-2030F, Thousand Tons
- Ceramics & Pigments- Market Size & Forecast 2019-2030F, Thousand Tons
- Binder Materials- Market Size & Forecast 2019-2030F, Thousand Tons
By Form
- Chemical Compound- Market Size & Forecast 2019-2030F, Thousand Tons
- Metal- Market Size & Forecast 2019-2030F, Thousand Tons
- Purchased Scrap- Market Size & Forecast 2019-2030F, Thousand Tons
By End User
- Electronics- Market Size & Forecast 2019-2030F, Thousand Tons
- Aerospace- Market Size & Forecast 2019-2030F, Thousand Tons
- Automotive- Market Size & Forecast 2019-2030F, Thousand Tons
- Chemical- Market Size & Forecast 2019-2030F, Thousand Tons
- Pharmaceutical- Market Size & Forecast 2019-2030F, Thousand Tons
- Others (Oil & Gas)- Market Size & Forecast 2019-2030F, Thousand Tons
Geographical Analysis
The report presents detailed insights into the market’s geographical expansion, highlighting key trends and opportunities across the following geographies:
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
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Leading Companies in Cobalt Market Worldwide: Players, Analysis & Future Outlook
- Glencore Plc
- Missouri Cobalt
- Jinchuan Group International Co., Ltd
- CMOC Group
- Eurasian Resources Group
- Huayou Cobalt
- Sumitomo Cobalt Mining
- Cobalt Blue Holdings Limited
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Panoramic Resources Ltd.
- Sherritt International
- Nornickel
- Nickel 28 Capital Corp.
- Groupe Managem
- Carter Alloy Company
Key Highlights of the Report
- Comprehensive Market Overview: In-depth analysis of market size, share, and forecasts from 2024 to 2030.
- Growth Drivers & Challenges: Clear insights into factors feeling or restraining market expansion.
- Investment & Regulatory Insights: Evaluation of key policies, funding trends, and collaborations influencing industry performance.
- Competitive Landscape: Detailed profiles of leading companies, including product portfolios, business strategies, financials, and recent developments such as mergers & acquisitions.
Analytical Tools: Application of SWOT Analysis, PESTEL Analysis, and Porter’s Five Forces Model to assess competition and external influences
Browse through our flexible pricing plans and choose the package that best fits your business needs whether you require a single-user license, corporate access, or customized insights. Once you select the plan that suits your requirements, you can purchase and instantly access the full report online – https://www.marknteladvisors.com/pricing/cobalt-market.html
Frequently Asked Questions (FAQ)
- What is the projected growth rate of the Cobalt?
2. What are the major factors driving this market’s growth?
3. Which regions are expected to lead the Cobalt?
4. Who are the prominent players in the Cobalt?
5. How is the competition structured in this market?
6. How can I access the full report?
About Us
MarkNtel Advisors is a premier market research and consulting firm specializing in the chemical industry, with expertise across specialty chemicals, petrochemicals, industrial chemicals, and chemical processing technologies. Our research solutions guide manufacturers, suppliers, and investors in tracking innovation, pricing trends, and sustainability initiatives. Through Custom Market Analysis, we deliver precise, business-specific intelligence, helping clients optimize production efficiency, manage volatility, and capture new opportunities within the global chemicals ecosystem.
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