Cobalt Market Exclusive Report Study with Forecast to 2034
overview of the Cobalt Market Cobalt is a critical raw material used primarily in batteries, superalloys, and catalysts, playing a vital role in various industries, including electronics, aerospace, and renewable energy. The market for cobalt has seen significant growth in recent years, driven by the accelerating demand for electric vehicles (EVs), portable electronics, and renewable energy storage solutions. As industries transition toward cleaner and more sustainable technologies, cobalt has become an essential component in lithium-ion batteries, particularly in cathode materials like lithium-cobalt-oxide (LCO) and nickel-cobalt-manganese (NCM) chemistries. Supply Dynamics Cobalt production is highly concentrated, with over 70% of the global supply originating from the Democratic Republic of Congo (DRC). This geographic concentration poses risks to the supply chain, including political instability, unethical mining practices, and limited infrastructure. Artisanal mining ...