Cobalt traded flat at 33,335 USD/T on July 10, 2025. Over the past month, Cobalt's price has remained flat, but it is still 22.78% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Cobalt - values, historical data, forecasts and news - updated on July of 2025.

The Myanmar's cobalt oxides and hydroxides market reduced to $1.6K in 2024, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $9.2K. From 2017 to 2024, the growth of the market remained at a lower figure.

Gain in-depth insights into High Rate Lithium Cobalt Oxide Market Report from Market Research Intellect, valued at USD 1.2 billion in 2024, and projected to grow to USD 2.5 billion by 2033 with a CAGR of 9.2% from 2026 to 2033.

The global lithium cobalt oxide market size was over USD 5.53 billion in 2024 and is poised to exceed USD 17.57 billion by 2037, witnessing over 9.3% CAGR during the forecast period i.e., between 2025-2037. Asia Pacific industry is expected to account for largest revenue share of 38.9% by 2037, influenced by robust industrial expansion in the region.

Cobalt Oxide Market Outlook

The global cobalt oxide market size was valued at approximately USD 3.5 billion in 2023 and is projected to reach nearly USD 5.9 billion by 2032, growing at a CAGR of 5.6% during the forecast period from 2024 to 2032. The growth of this market is driven primarily by the increasing demand for cobalt oxide in the battery industry, which is buoyed by the rising global adoption of electric vehicles (EVs). The push for cleaner energy solutions and the transition towards sustainable transportation are among the key factors propelling the cobalt oxide market forward, as cobalt oxide serves as a critical component in lithium-ion batteries used in EVs.

One of the significant growth factors in the cobalt oxide market is its vital role in battery technology. With the global shift towards renewable energy sources and the reduction of carbon footprints, the demand for electric vehicles and energy storage systems has soared. Cobalt oxide, used in lithium-ion batteries, enhances energy density and improves battery life, making it indispensable in the automotive and electronics industries. The increasing investments in research and development to improve battery efficiency and performance further stimulate the growth of the cobalt oxide market. Moreover, government initiatives and subsidies in favor of electric mobility across various countries have significantly boosted market demand for cobalt oxide.

Additionally, the diverse application of cobalt oxide in various industries such as ceramics, paints, and coatings contributes to market growth. In the ceramics industry, cobalt oxide is highly valued for its coloring properties. It is used to produce vibrant blues in pottery and glass. Similarly, in paints and coatings, cobalt oxide acts as a pigment and drier, enhancing the performance and appearance of products. The growing construction industry, particularly in developing regions, has led to increased demand for paints and coatings, thereby propelling the cobalt oxide market. Furthermore, cobalt oxide's application as a catalyst in chemical reactions highlights its importance in the chemical industry, where it is used in the synthesis of various organic compounds.

The cobalt oxide market is also driven by technological advancements in end-user industries such as automotive and electronics. The demand for lightweight, efficient, and durable materials in these sectors necessitates the use of cobalt oxide due to its high performance and reliability. Innovations in product design and manufacturing processes in these industries have led to increased consumption of cobalt oxide. Additionally, the expanding consumer electronics market, driven by the proliferation of smart devices, has further augmented the demand for cobalt oxide, given its application in electronic components and devices.

Cobalt, as a fundamental element, plays a pivotal role in the advancement of modern technology and sustainable solutions. Its unique properties make it an essential component in various high-tech applications beyond just cobalt oxide. The versatility of cobalt is highlighted by its use in superalloys, which are crucial for the aerospace industry due to their ability to withstand extreme temperatures and stresses. Additionally, cobalt is integral in the production of magnetic materials, which are vital for numerous electronic devices. The ongoing research into cobalt's potential in emerging technologies, such as quantum computing and advanced medical imaging, underscores its significance in driving future innovations.

Regionally, the Asia Pacific region stands out as a dominant player in the cobalt oxide market, accounting for a significant share of global consumption. This is primarily due to the region's robust automotive and electronics manufacturing sectors, coupled with rapid urbanization and industrialization. North America and Europe also represent substantial markets, driven by strong demand in automotive and construction industries. Emerging economies in Latin America and the Middle East & Africa present lucrative opportunities for market growth due to increased investments in infrastructure development and industrialization.

Product Type Analysis

The cobalt oxide market is segmented by product type into battery grade, pigment grade, catalyst grade, and others. Each of these segments plays a crucial role in the overall market dynamics, catering to specific applications and industries. Battery grade cobalt oxide is the most significant s

Dive into Market Research Intellect's Cobalt Oxide Nanoparticles Market Report, valued at USD 650 million in 2024, and forecast to reach USD 1.2 billion by 2033, growing at a CAGR of 8.2% from 2026 to 2033.

Product Types:Cobalt (II) oxide (cobaltous oxide), CoOCobalt (III) oxide (cobaltic oxide), Co2O3Cobalt (II, III) oxide, Co3O4Emerging Product: Nano-sized cobalt oxides with enhanced electrochemical properties.Applications:Lithium-ion batteryVaristorHard alloyCatalystEmerging Application: Advanced energy storage systems, supercapacitors, and fuel cells. Recent developments include: Glencore announced plans to increase its cobalt production capacity to meet the growing demand from the electric vehicle industry.

, Umicore launched a new cobalt-free cathode material for lithium-ion batteries., Sherritt International acquired a cobalt mine in Canada to secure its long-term cobalt supply., Sumitomo Metal Mining developed a new process for recycling cobalt from spent batteries.. Key drivers for this market are: Increasing Demand for Electric Vehicles Growing Awareness of Environmental Sustainability. Potential restraints include: Volatile Prices of Cobalt Limited Supply of Cobalt. Notable trends are: Development of Solid-State Batteries Recycling and Recovery of Cobalt.

Cobalt(II,III) Oxide Market Outlook

The Cobalt(II,III) Oxide market size was valued at USD 1.9 billion in 2023 and is projected to reach USD 3.4 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.5% over the forecast period. The primary growth factors propelling this market include the rising demand for cobalt-based batteries, advancements in material science, and the increased usage of cobalt in various industrial applications. As battery technology continues to evolve and the need for energy storage solutions grows, the market for Cobalt(II,III) Oxide is set for substantial expansion.

One of the key drivers of the Cobalt(II,III) Oxide market is the burgeoning demand for energy storage solutions, particularly lithium-ion batteries, which are essential in the growing electric vehicle (EV) market. With global EV sales accelerating and governments pushing for greener technologies, cobalt has become a critical component due to its ability to enhance battery performance and longevity. The requirement for high energy density and stable battery operations in EVs has propelled research into cobalt oxide, resulting in increased market demand.

Another significant growth factor is the expanding use of cobalt oxide in ceramics and pigments. Cobalt oxide is prized for its deep blue coloration, which makes it a valuable ingredient in the production of ceramics and glass. This characteristic has found favor in both industrial applications and artistic endeavors, leading to a steady demand from the ceramics industry. Furthermore, cobalt oxide is used as a catalyst in various chemical reactions, contributing to its diversified application portfolio and supporting market growth.

Technological advancements and innovations in material science are also contributing to the market's growth. Researchers are continually finding new ways to optimize the performance of cobalt oxide in different applications, including catalysis and electronic materials. These innovations not only enhance product efficiency but also open new avenues for cobalt oxide usage, thereby expanding its market potential. As industries increasingly seek high-performance materials to improve product quality and operational efficiency, cobalt oxide continues to gain prominence.

Regionally, the Asia Pacific dominates the Cobalt(II,III) Oxide market, driven by rapid industrialization, significant investments in battery technology, and the presence of key players in countries like China and Japan. North America and Europe follow, driven by advancements in automotive technologies and green energy initiatives. Latin America, the Middle East, and Africa are also showing promising growth as infrastructure developments and industrial activities increase. The regional dynamics play a crucial role in shaping market trends and opportunities for cobalt oxide.

Cobalt Carbonate is another significant compound in the cobalt industry, known for its diverse applications and chemical properties. It serves as a precursor in the production of other cobalt compounds, including cobalt oxide, and plays a crucial role in the manufacturing of pigments, ceramics, and catalysts. The unique properties of cobalt carbonate make it valuable in various industrial processes, such as electroplating and the production of cobalt salts. As industries continue to explore sustainable and efficient materials, cobalt carbonate's role is expected to expand, contributing to the overall growth of the cobalt market. Its versatility and adaptability in different applications highlight its importance in modern industrial practices.

Product Type Analysis

The Cobalt(II,III) Oxide market is segmented by product type into Battery Grade, Industrial Grade, and Others. Battery Grade cobalt oxide is specifically designed for high-performance batteries, particularly lithium-ion batteries, which are integral to modern electronics and electric vehicles. The increasing demand for reliable and efficient energy storage solutions is driving the growth of this segment. Battery Grade cobalt oxide offers superior electrochemical properties, making it a preferred choice for manufacturers seeking to enhance battery capacity and lifespan. This segment is expected to witness significant growth due to the ongoing advancements in battery technology and the rising adoption of electric vehicles globally.

Industrial Grade cobalt oxide, on the other hand, caters to a wide range of industrial applicatio

The size of the Lithium Cobalt Oxide Market market was valued at USD 5.56 billion in 2023 and is projected to reach USD 10.36 billion by 2032, with an expected CAGR of 9.3 % during the forecast period. The lithium cobalt oxide (LCO) market covers the manufacturers and consumers of a strategic material used in rechargeable lithium-ion batteries. LCO is widely known for its high energy density and stable electrochemical performance and therefore widely used in numerous electronic devices including smartphones, laptops, and digital cameras, among others. Besides, LCO batteries are applied in electric automobiles as well as in medicinal equipment on account of their dependability and portability. The two latest trends within the market are an improvement of energy density of batteries and their life, and the search for relatives materials for cobalt, to avoid both excessively high costs, as well as ethical issues related to mining of cobalt. Recent developments include: In November 2023, Toshiba Corporation made significant advancements in lithium-ion battery technology by developing a new battery with a cobalt-free 5V-class high-potential cathode material. This innovative cathode material suppresses the production of performance-degrading gases that can occur as side reactions during battery operation. , In June 2023, UC Irvine’s scientists announced the development of cobalt-free lithium-ion batteries. This discovery has the potential to address ethical concerns associated with cobalt mining, such as child labor, and reduce reliance on this mineral. Led by Professor Huolin Xin, the research team has devised a method that utilizes nickel as an alternative to cobalt in lithium-ion batteries. .

The global Cobalt(II,III) Oxide market is experiencing robust growth, driven primarily by the burgeoning demand for lithium-ion batteries in electric vehicles (EVs) and energy storage systems. This expanding market, estimated at $1.5 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 8% from 2025 to 2033, reaching approximately $2.8 billion by 2033. This significant growth is fueled by the increasing adoption of EVs globally, stringent emission regulations, and the growing need for renewable energy solutions. The Electronic Grade Cobalt(II,III) Oxide segment holds a significant market share due to its superior purity and performance in high-end applications. However, the Battery Grade Cobalt(II,III) Oxide segment is expected to witness faster growth owing to its cost-effectiveness and suitability for large-scale battery production. Geographic growth is unevenly distributed with Asia-Pacific, particularly China, leading the market due to its dominance in battery manufacturing and EV production. North America and Europe also represent substantial markets, driven by government incentives and consumer demand for environmentally friendly vehicles. While the market outlook is positive, challenges remain. Price volatility of cobalt, a key raw material, poses a significant risk to market stability. Furthermore, environmental concerns associated with cobalt mining and ethical sourcing are prompting increased scrutiny and driving demand for sustainable and responsible sourcing practices. Competition among key players such as Umicore, OMG, Freeport, and others is intense, leading to price pressures and the need for continuous innovation in product quality and process efficiency. Nevertheless, the long-term growth trajectory of the Cobalt(II,III) Oxide market remains strong, driven by the unstoppable growth of the EV and renewable energy sectors. Strategic partnerships, technological advancements in battery technology, and proactive measures to address environmental and ethical concerns will be crucial for market players to capitalize on the immense growth opportunities. This report provides a comprehensive analysis of the global Cobalt(II,III) Oxide market, projecting a market value exceeding $2 billion by 2028. It delves into the intricate details of production, consumption, and trade dynamics, focusing on key players, emerging trends, and future growth prospects.

North America Cobalt Oxide Nano powder market size is USD XX million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.

Learn more about Market Research Intellect's Cobalt Oxide Nanopowder Market Report, valued at USD 450 million in 2024, and set to grow to USD 1.2 billion by 2033 with a CAGR of 12.5% (2026-2033).

Cobalt Oxide Nanopowder Market Outlook

In 2023, the global cobalt oxide nanopowder market size was valued at approximately USD 820 million, and it is projected to reach around USD 1.65 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.2% during the forecast period. The driving factors behind this growth include increasing demand for advanced energy storage solutions, significant advancements in nanotechnology, and growing applications across various industries.

The growth of the cobalt oxide nanopowder market is significantly driven by its critical role in energy storage technologies, especially in rechargeable batteries. The increasing adoption of electric vehicles (EVs) has surged the demand for efficient and high-capacity batteries, in which cobalt oxide plays a vital role. As the global focus shifts towards renewable energy sources and reducing carbon emissions, the need for energy storage solutions that can store and discharge energy more efficiently is becoming more crucial. Cobalt oxide nanopowder, with its superior electrochemical properties, is increasingly being used in the production of lithium-ion batteries, which are essential for EVs and portable electronic devices.

Furthermore, advancements in nanotechnology have opened up new opportunities for the application of cobalt oxide nanopowder in various sectors. The unique properties of these nanoparticles, such as a high surface area to volume ratio and superior catalytic activity, have made them highly desirable in industrial applications. Industries such as chemical manufacturing, electronics, and ceramics are increasingly utilizing cobalt oxide nanopowder to enhance product performance and efficiency. Additionally, the ongoing research and development in nanotechnology are expected to further expand the application scope of cobalt oxide nanopowder, thereby driving market growth.

Another significant growth factor is the rising demand for pigments and coatings that require cobalt oxide nanopowder. The paints and coatings industry extensively uses cobalt oxide nanopowder for its stability, color retention, and resistance to environmental factors. As the global construction and automotive industries continue to grow, the demand for high-quality paints and coatings is also rising, thereby contributing to the increased use of cobalt oxide nanopowder. Moreover, the trend towards eco-friendly and durable coatings is likely to further boost market demand.

Regionally, Asia Pacific is expected to dominate the cobalt oxide nanopowder market during the forecast period, driven by rapid industrialization, increased investments in renewable energy projects, and the presence of major electronics manufacturers. North America and Europe are also significant markets due to the high adoption of advanced technologies and substantial investments in research and development. The Middle East & Africa and Latin America regions are anticipated to witness moderate growth, supported by expanding industrial sectors and increasing awareness about nanotechnology applications.

Product Type Analysis

The cobalt oxide nanopowder market is segmented by product type into high purity and low purity categories. The high purity segment holds a substantial share of the market due to its extensive applications in high-performance electronics, energy storage systems, and specialized industrial processes. High purity cobalt oxide nanopowder is highly sought after for its superior properties, such as high electrochemical activity and stability, making it ideal for use in lithium-ion batteries and other advanced energy storage solutions. The increasing demand for reliable and efficient energy storage solutions, particularly in the automotive and electronics sectors, is expected to drive the growth of this segment.

On the other hand, the low purity segment also plays a significant role in the market, particularly in applications where extremely high purity is not a critical requirement. Low purity cobalt oxide nanopowder is commonly used in the production of pigments, ceramics, and catalysts. The cost-effectiveness of low purity variants makes them an attractive option for industries focused on bulk production and cost efficiency. The growing construction and ceramics industries, especially in developing regions, are expected to fuel the demand for low purity cobalt oxide nanopowder.

Furthermore, the increasing focus on research and development activities to enhance the properties and applications of both high and low purity cobalt oxide nanopowders is expected to create new growth o

The report offers Cobalt Oxide Powder Market Dynamics, Comprises Industry development drivers, challenges, opportunities, threats and limitations. A report also incorporates Cost Trend of products, Mergers & Acquisitions, Expansion, Crucial Suppliers of products, Concentration Rate of Steel Coupling Economy. Global Cobalt Oxide Powder Market Research Report covers Market Effect Factors investigation chiefly included Technology Progress, Consumer Requires Trend, External Environmental Change.

Global Cobalt Oxide market size 2025 was XX Million. Cobalt Oxide Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

• Global Lithium Cobalt Oxide Market

Global Lithium Cobalt Oxide Market is estimated to be valued US$ XX.X million in 2019. The report on Lithium Cobalt Oxide Market provides qualitative as well as quantitative analysis in terms of market dynamics, competition scenarios, opportunity analysis, market growth, etc. for the forecast year up to 2029. The global lithium cobalt oxide market is segmented on the basis of type, application, and geography.

Europe market was valued at US$ XX.X million in 2018 and is projected to reach US$ XX.X million in 2029, and register a CAGR of X.X% during the forecast period, according to a new Market.us (Prudour Research) study. Read More

Cobalt Oxide Powder Market Outlook

The global cobalt oxide powder market size was valued at approximately USD 465 million in 2023 and is projected to reach USD 890 million by 2032, growing at a CAGR of 7.8% during the forecast period. The significant growth factor driving this market is the increasing demand for cobalt oxide powder in various end-user industries such as electronics, automotive, and ceramics, due to its superior electrochemical properties and versatility in applications.

One of the primary growth factors for the cobalt oxide powder market is its extensive use in the battery industry. With the rising prominence of electric vehicles (EVs) and renewable energy storage systems, there is an escalating demand for efficient and high-capacity batteries. Cobalt oxide powder, being a critical component in the cathode of lithium-ion batteries, addresses this demand effectively. The global shift towards sustainable energy solutions further amplifies the need for cobalt oxide powders, significantly propelling market growth. Additionally, the consistent research and development activities aimed at enhancing battery performance and lifespan are expected to fuel the demand for cobalt oxide powder in the long term.

Another key growth factor is the utilization of cobalt oxide powder in the ceramics industry. Cobalt oxide is known for imparting vibrant blue hues to ceramics and glass products, making it highly sought after in the decorative arts sector. The consistent demand for aesthetically pleasing and durable ceramic products in both household and commercial applications has been a driving force behind the steady consumption of cobalt oxide powders. Moreover, the advancements in ceramic production technologies and the rising popularity of customized ceramic items further stimulate market growth.

The market is also expected to witness substantial growth due to the increasing use of cobalt oxide powder in industrial catalysts. Cobalt oxide acts as a catalyst in various chemical reactions, including oxidation and reduction processes. Its efficiency in facilitating these reactions makes it indispensable in the chemical industry. The expansion of the chemical manufacturing sector, coupled with the growing need for efficient and cost-effective catalysts, is likely to drive the demand for cobalt oxide powder in the foreseeable future.

The use of Cobalt Sheet in various industrial applications has been gaining traction due to its unique properties. Cobalt sheets are known for their high strength, corrosion resistance, and ability to withstand high temperatures, making them ideal for use in aerospace, medical, and energy sectors. In the aerospace industry, cobalt sheets are utilized in the manufacturing of turbine blades and other components that require durability and resistance to extreme conditions. The medical sector benefits from cobalt sheets in the production of implants and surgical instruments, where biocompatibility and strength are crucial. Additionally, the energy sector employs cobalt sheets in the construction of components for nuclear reactors and other high-temperature applications, highlighting their versatility and importance in modern industrial processes.

From a regional perspective, Asia Pacific holds a significant share in the cobalt oxide powder market. The region's dominance is attributed to the presence of major electronics and automotive manufacturers in countries such as China, Japan, and South Korea. Additionally, the robust growth of the ceramics and chemical industries in the region fosters a conducive environment for market expansion. North America and Europe are also anticipated to register substantial growth, driven by the increasing adoption of electric vehicles and advancements in the battery technology sector. The Middle East & Africa and Latin America regions are expected to experience moderate growth due to the gradual industrialization and the rising focus on sustainable energy solutions.

Product Type Analysis

The cobalt oxide powder market can be segmented by product type into battery grade, pigment grade, catalyst grade, and others. Battery grade cobalt oxide powder holds a significant share due to its critical role in the cathodes of lithium-ion batteries. The burgeoning electric vehicle market and the rising need for renewable energy storage solutions are the primary drivers for the demand in this segment. Continuous innovations in battery technology and the growing emphasis on increasing energy density and lif

North America Cobalt Oxide Market is expected to grow during 2025-2031

High Rate Lithium Cobalt Oxide Market Outlook

The global High Rate Lithium Cobalt Oxide market size was valued at USD 3.5 billion in 2023 and is projected to reach USD 6.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.8% from 2024 to 2032. This robust growth is driven by the increasing demand for efficient, high-capacity batteries in various applications ranging from consumer electronics to electric vehicles. The unique properties of Lithium Cobalt Oxide (LCO), such as high energy density and excellent cycle life, make it a preferred material for manufacturing high-performance batteries, which are vital for the rapidly evolving technology landscape.

One of the primary growth factors for the High Rate Lithium Cobalt Oxide market is the burgeoning demand for consumer electronics, including smartphones, laptops, and tablets. The proliferation of smart devices and the continual advancements in technology necessitate compact, durable, and long-lasting power sources. LCO batteries fulfill these criteria, providing a reliable energy solution that enhances the performance and longevity of electronic gadgets. Furthermore, the trend towards miniaturization in electronics further propels the need for high-density batteries, directly benefiting the LCO market.

Another significant driver is the automotive industry's pivot towards electric vehicles (EVs). The global push for sustainable transportation, bolstered by stringent environmental regulations and increasing consumer awareness, has led to a surge in the production and adoption of EVs. LCO batteries are integral to EV technology due to their high energy density, which ensures longer driving ranges and more efficient energy usage. This shift is particularly pronounced in regions like North America and Europe, where governments are actively promoting EV adoption through subsidies and infrastructure development.

Energy storage systems (ESS) represent another critical segment contributing to the growth of the High Rate Lithium Cobalt Oxide market. The transition to renewable energy sources, such as solar and wind, requires efficient storage solutions to manage intermittency and ensure a stable power supply. LCO batteries, with their high charge and discharge rates, are well-suited for this purpose, providing a reliable means to store and utilize renewable energy. The expansion of grid-scale storage projects and residential energy storage solutions further catalyzes market growth.

From a regional perspective, Asia Pacific is anticipated to dominate the High Rate Lithium Cobalt Oxide market during the forecast period. This dominance is attributed to the region's robust manufacturing base, particularly in China and Japan, which are leading producers of consumer electronics and automotive batteries. Moreover, the increasing investments in renewable energy projects and the rapid urbanization in countries like India and South Korea add to the demand for efficient energy storage solutions. North America and Europe also present significant growth opportunities, driven by technological advancements and supportive regulatory frameworks promoting the adoption of clean energy solutions.

Product Type Analysis

The High Rate Lithium Cobalt Oxide market is segmented into Battery Grade, Industrial Grade, and Others. Among these, the Battery Grade segment holds the largest share, driven by its extensive use in consumer electronics and automotive applications. Battery Grade LCO is preferred due to its high energy density and reliability, making it ideal for devices that require long-lasting power sources. The segment's growth is further fueled by the continuous advancements in battery technology, aimed at enhancing performance and reducing costs. Moreover, the rising production of smartphones, laptops, and other portable devices significantly boosts the demand for Battery Grade LCO.

Industrial Grade LCO, while not as dominant as Battery Grade, plays a crucial role in specific applications requiring robust performance and durability. This segment includes batteries used in industrial machinery, power tools, and medical devices, where reliability and safety are paramount. The growth of industries such as construction, healthcare, and manufacturing, which rely on portable power solutions, is a key driver for the Industrial Grade segment. Additionally, the increasing automation and electrification of industrial processes contribute to the rising demand for high-performance batteries.

The 'Others' segment encompasses various niche applications of Lithium Cobal

The global cobalt oxide market is poised for significant growth in the coming years, driven by various factors and trends. Cobalt oxide plays a crucial role in the rapidly expanding electric vehicle (EV) and portable electronics industries.