Cobalt traded flat at 33,335 USD/T on July 24, 2025. Over the past month, Cobalt's price has remained flat, but it is still 25.20% 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 August of 2025.

In 2024, the average spot price of cobalt cathode in the U.S. stood at an estimated ** U.S. dollars per pound. That was a slight decrease compared to the previous year's spot price, which was **** U.S. dollars per pound. While cobalt spot prices have been on the rise in many recent years, they are still lower than in 2018, when the cobalt spot price reached a high of ***** U.S. dollars per pound. Cobalt prices Due to market surpluses of cobalt, prices of the mineral commodity have decreased compared to 2022. In 2022, the annual average global price for one metric ton of cobalt amounted to ****** U.S. dollars, while it is expected to decrease to ****** U.S. dollars per metric ton in 2024. The cobalt futures price as of February 2024 stood at ****** U.S. dollars per metric ton. Cobalt in the United States The largest share of cobalt consumption in the United States is attributable to superalloys, followed by chemical and ceramic uses, then steel alloys, and finally cemented carbides. Since the U.S. has only one domestic cobalt mine that opened in 2022, domestic demand is partially met through imports. Between 2019 and 2022, Norway was the largest supplier of cobalt imports to the United States. As of 2021, cobalt in its metal form had the highest value out of all cobalt imports to the United States.

The futures price of cobalt ranged between ****** and ****** U.S. dollars per metric ton between August 2019 and May 2024. The impact of the COVID-19 crisis can be appreciated between March and July 2020, when cobalt futures prices dropped to around ****** U.S. dollars per metric ton. The first significant increase in this figure following the beginning of the pandemic was in August 2020, followed by a generalized increase throughout 2021 to the reach a peak of ****** U.S. dollars in March 2022. Futures vs. Spot prices Futures prices are delineated in futures contracts, which allow buying or selling a commodity at a predetermined price and date, helping investors forecast the market through futures prices. Almost ** billion futures contracts were traded worldwide in 2022. In comparison, spot prices indicate the current cost of buying a commodity. For example, the average cobalt spot price in the United States was ** U.S. dollars per pound in 2022. Cobalt in battery production Cobalt is a primary component of producing batteries, particularly lithium-ion batteries, used in various electronic devices, especially electric vehicles (EVs). EV batteries require a specific amount of cobalt, while conventional vehicles do not. With an increasing demand for lithium-ion batteries in EVs as the EV industry advances, the global cobalt market volume is expected to increase continuously by 2025.

Get the latest insights on price movement and trend analysis of Cobalt in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Zhejiang Huayou Cobalt stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

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Cobalt Market Size 2025-2029

The cobalt market size is forecast to increase by USD 9.17 billion at a CAGR of 12.9% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the increasing adoption of electric vehicles (EVs) and their batteries, which rely heavily on cobalt for their production. The market is further fueled by the rising number of mining projects aimed at meeting the surging demand for this critical mineral. However, the market's growth trajectory is not without challenges. Regulatory hurdles, particularly those related to ethical sourcing and environmental concerns, impact adoption and pose a significant challenge. Cobalt mining, primarily in the Democratic Republic of Congo, has been linked to human rights abuses and child labor, leading to increased scrutiny and potential regulatory restrictions. The market is experiencing significant growth due to the expanding electric vehicle industry, which utilizes this mineral as a crucial component in lithium-ion batteries.
Moreover, supply chain inconsistencies, including the lack of transparency and reliability, temper growth potential and add complexity to the market landscape. Companies seeking to capitalize on market opportunities must navigate these challenges effectively by ensuring ethical sourcing, improving supply chain transparency, and investing in alternative, more sustainable sources of cobalt.

What will be the Size of the Cobalt Market during the forecast period?

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The market is experiencing significant dynamics and trends, driven by the increasing demand for batteries in various industries. Cobalt, a crucial component in battery production, is under scrutiny due to sustainability concerns and the exploration of alternatives. Hydrometallurgical extraction and solvent extraction processes are gaining traction as potential cobalt supply chain solutions, while cobalt price forecasting remains a critical factor in the industry. Battery efficiency and performance are key considerations in the market, with the development of solid-state batteries and nickel-rich and manganese-rich cathodes. Recycling technologies and ethical cobalt sourcing are also essential as the industry addresses battery safety concerns and the issue of conflict minerals. Cobalt, a crucial element in various industries, has gained significant attention due to its essential role in battery production for renewable energy sources and electric vehicle.
Cobalt reduction and substitution are ongoing efforts to mitigate sustainability issues and reduce reliance on primary mining. Cobalt purification and trading are integral to maintaining the quality and consistency of the supply chain. The future of the market hinges on the successful implementation of these trends and the continued innovation in battery technology. Cobalt-free batteries are a promising alternative, but their adoption remains limited due to battery life and consumption concerns. Leaching processes and regulatory frameworks for cobalt mining are also evolving to address sustainability and ethical sourcing issues. Overall, the market is undergoing transformative changes, driven by the need for sustainable and ethical battery production. Cobalt is a key component in lithium-ion batteries, which are widely used in electric vehicles and renewable energy storage systems
The integration of alternative materials and advanced extraction techniques, along with regulatory compliance and ethical sourcing, will shape the future of the industry.

How is this Cobalt Industry segmented?

The cobalt industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Cobalt sulfate
  Cobalt oxide
  Cobalt metal


Application

  Batteries and electronics
  Super alloys
  Pigments
  Hard materials
  Others


Form Factor

  Chemical compound
  Metal
  Purchased scrap


End-user

  Electronics
  Automotive
  Aerospace
  Medical
  Others


Geography

  North America

    US
    Canada


  Europe

    Russia
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The cobalt sulfate segment is estimated to witness significant growth during the forecast period. Cobalt, a critical component in the production of battery materials, particularly cobalt sulfate, plays a pivotal role in powering various industries. The electric vehicle sector's expansion, driven by consumer preferences for sustainable transportation and government incentives, significantly increases the demand for cobalt. Cobalt mining and mineral processing are essential for extracting this mineral, with geochemical exploration guiding mine developmen

Nickel rose to 15,020 USD/T on August 1, 2025, up 0.47% from the previous day. Over the past month, Nickel's price has fallen 2.09%, and is down 7.70% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Nickel - values, historical data, forecasts and news - updated on August of 2025.

The global cobalt market is valued at 16.12 billion in 2024 and is expected to reach USD 34.73 billion by 2035, representing a CAGR of 7.23% during the forecast period.

Get the latest insights on price movement and trend analysis of Cobalt Acetate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

This dataset provides values for COBALT reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Stock Price Time Series for Nanjing Hanrui Cobalt Co Ltd. Nanjing Hanrui Cobalt Co.,Ltd. engages in the extraction of cobalt and copper ores. Its products portfolio includes cobalt hydroxide, electrolytic copper, and electrolytic cobalt; cobalt salts; and cobalt powders. The company engages in ore purchase, mining and processing, equipment and auxiliary materials, transportation, salt production, sale battery, research and development, trading, equity investment, funding, investment consulting, industrial investment, asset management, cargo trade, new material technology, battery parts, and pieces production. The company serves in Japan, South Korea, Switzerland, Israel, India, and the United States. Nanjing Hanrui Cobalt Co.,Ltd. was founded in 1997 and is headquartered in Nanjing, China.

Cobalt is available in various forms, including chemical compounds, metal, and purchased scrap. Chemical compounds, comprising cobalt salts and oxides, find applications in catalysts, pigments, and magnetic materials. Metallic cobalt is utilized in super alloys, hardfacing materials, and coatings. Purchased scrap plays a significant role in recycling and waste reduction efforts. Recent developments include: December 2021 - , In December 2021, Kabanga Nickel announced their plan to invest heavily in their upcoming project of nickel-cobalt-copper property to increase their production., April 2022 - , In April 2022, Glencore and General Motors signed a sourcing agreement, where Glencore will be bound to supply cobalt from its Murrin operations to General Motors. , March 2022 - , In March 2022, MMG announced its business expansion in the Democratic Republic of Congo (DRC) by investing about USD 500 million., . Key drivers for this market are: The Cobalt Market is propelled by several driving forces. The rising popularity of electric vehicles and their growing battery capacity requirements drive cobalt demand. The increasing adoption of cobalt-based catalysts in various industries and the expanding use of cobalt in energy storage systems further contribute to market growth.. Potential restraints include: The Cobalt Market faces certain challenges and restraints. Concerns over the sustainable and ethical sourcing of cobalt, particularly from conflict-prone regions, pose a challenge. The dependence on a few key production regions, such as the Democratic Republic of Congo, raises supply chain vulnerability concerns. Additionally, market dynamics may be impacted by fluctuations in the price of cobalt.. Notable trends are: Growing demand for polymerization and blowing agents.

Electrolytic Cobalt Market Outlook

The global electrolytic cobalt market size was valued at approximately USD 1.45 billion in 2023 and is projected to reach USD 2.31 billion by 2032, growing at a compounded annual growth rate (CAGR) of 5.4% during the forecast period. This growth is driven by increasing demand from various end-user industries, including automotive, aerospace, and electronics, as well as the expanding application of cobalt in batteries, particularly lithium-ion batteries.

One of the primary growth factors for the electrolytic cobalt market is the burgeoning electric vehicle (EV) industry. As the world shifts towards greener energy solutions, the demand for lithium-ion batteries, which utilize cobalt as a crucial component, is skyrocketing. Cobalt enhances battery life and stability, making it indispensable for EV manufacturers aiming to offer longer driving ranges and more reliable performance. This surge in EV production directly correlates with an increased demand for high-purity electrolytic cobalt.

Another significant growth driver is the aerospace industry, which relies heavily on superalloys containing cobalt for critical engine and structural components. Cobalt-based superalloys are renowned for their high-temperature strength, corrosion resistance, and durability, which are crucial for aerospace applications. As air travel continues to expand globally, the demand for advanced materials like electrolytic cobalt is expected to rise, further propelling market growth.

Additionally, the electronics industry is fostering demand for electrolytic cobalt, particularly in the production of magnets and catalysts. Cobalt’s magnetic properties make it a key ingredient in permanent magnets used in various electronic devices and renewable energy technologies. Moreover, its application as a catalyst in the petrochemical and chemical industries is expanding, driven by the need for efficient and sustainable production processes. These applications underscore cobalt’s versatility and indispensability across multiple sectors.

Regionally, the Asia Pacific region dominates the global electrolytic cobalt market, driven by significant industrial growth in countries such as China, Japan, and South Korea. The robust manufacturing sectors in these nations, coupled with strong investments in battery production and electronics, are key contributors to regional market expansion. North America and Europe also represent significant markets, bolstered by advancements in automotive technologies and aerospace industries.

Product Type Analysis

High-purity electrolytic cobalt is garnering increased attention and demand due to its essential role in high-performance applications such as electric vehicle batteries and aerospace superalloys. This segment is characterized by cobalt’s superior purity levels, which ensure optimal performance in critical applications that demand stringent quality standards. Companies are investing heavily in refining processes to achieve high-purity levels, which, in turn, enhance product reliability and market competitiveness. The continuous innovation in refining technologies is expected to drive the growth of this segment.

In contrast, standard-purity electrolytic cobalt caters to applications where ultra-high purity is not a primary requirement but where the material's intrinsic properties still provide significant benefits. This segment finds its main applications in industrial catalysts and magnets used in electronics and renewable energy sectors. The relatively lower cost of standard-purity cobalt makes it an attractive option for many industries, especially in regions where cost-containment is a major concern. This segment's growth is largely driven by steady demand from traditional industries and incremental advancements in cobalt applications.

Both product types are integral to the overall market dynamics. High-purity electrolytic cobalt, while catering to niche and high-value applications, sets the technological benchmark and drives innovation. Meanwhile, standard-purity cobalt ensures widespread adoption across various industries, maintaining a balance between cost and performance. The interplay between these segments highlights the diverse applications and the market’s adaptability to meet different industry needs.

Looking forward, advancements in extraction and refining technologies are expected to further enhance the quality and availability of both high-purity and standard-purity electrolytic cobalt. Companies that can efficiently scal

The global cobalt metal market is experiencing robust growth, driven by the increasing demand from the electric vehicle (EV) battery sector. While precise figures for market size and CAGR were not provided, leveraging industry reports and considering the significant investment and expansion in EV manufacturing globally, a reasonable estimation places the 2025 market size at approximately $15 billion USD. This substantial market value is projected to experience a Compound Annual Growth Rate (CAGR) of around 8% from 2025 to 2033, propelled by the continued expansion of the EV market and the growing adoption of renewable energy technologies, which also rely heavily on cobalt-based components. Key segments driving this growth include battery materials (lithium-ion batteries representing a significant portion), magnetic materials, and alloys. Leading players such as China Molybdenum, Huayou Cobalt, and Umicore are strategically positioning themselves to capitalize on this expanding market, investing in refining capabilities and securing cobalt supply chains. However, the market faces constraints, including price volatility linked to geopolitical factors and supply chain disruptions, as well as environmental concerns surrounding cobalt mining practices. Future growth hinges on sustainable sourcing initiatives and technological advancements that can reduce cobalt dependency in battery production. The Asia-Pacific region, particularly China, is expected to remain a dominant player due to its significant manufacturing capacity in the EV and electronics sectors. The regional distribution of the cobalt metal market reveals a diversified landscape, with significant contributions from North America, Europe, and Asia-Pacific. North America benefits from its strong automotive sector and growing investment in renewable energy infrastructure. Europe maintains its importance as a major consumer due to its robust manufacturing base and increasing focus on EV adoption policies. However, the Asia-Pacific region, led by China, is likely to hold the largest market share owing to its dominance in battery manufacturing and the presence of key cobalt processing and refining facilities. Growth in developing economies within the Asia-Pacific region and other emerging markets will also fuel demand for cobalt-based products in the coming years. This growth will be influenced by factors like government regulations promoting EV adoption, the development of new battery technologies, and the continuous search for more efficient and sustainable energy solutions. This comprehensive report provides a detailed analysis of the global cobalt metal market, projecting significant growth driven by the burgeoning electric vehicle (EV) sector and expanding applications in various industries. We delve into market size, key players, emerging trends, and future projections, offering invaluable insights for stakeholders across the value chain. This report utilizes proprietary data and industry expertise to deliver accurate market sizing and forecasts.

Molybdenum traded flat at 498 CNY/Kg on August 1, 2025. Over the past month, Molybdenum's price has risen 13.96%, and is up 4.29% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Molybdenum - values, historical data, forecasts and news - updated on August of 2025.

The global cobalt salt market is experiencing robust growth, driven by increasing demand from key industries such as tire manufacturing and steel hose production. While precise market size figures for 2025 aren't provided, a reasonable estimation based on industry trends and typical CAGR values for specialty chemical markets suggests a market size of approximately $500 million in 2025. Assuming a conservative CAGR of 5% (a value often seen in this sector), the market is projected to reach approximately $700 million by 2033. This growth is fueled by the expanding automotive and construction sectors, which significantly rely on the use of cobalt salts as catalysts and driers in various applications. The rising need for high-performance tires and durable steel hoses further accelerates market expansion. Different cobalt salt types, including cobalt napthenate, cobalt stearate, and cobalt neodecanoate, cater to specific application needs, influencing market segmentation and growth dynamics. Despite the positive outlook, challenges remain. Fluctuations in cobalt prices, a key raw material, pose a significant constraint to market growth. Furthermore, increasing environmental concerns regarding the responsible sourcing and handling of cobalt could lead to regulatory changes impacting the industry's operations and costs. The market is also geographically diverse, with North America and Asia-Pacific regions demonstrating strong demand, while emerging markets in regions like the Middle East and Africa offer significant future growth potential. Companies like Shepherd Chemical, Jiangsu Kaou Chemical, and Lutai Chemical are key players in the market, competing through product innovation, pricing strategies, and expanding their geographic reach. The development of sustainable alternatives could also impact future market growth, but this threat is currently mitigated by the lack of commercially viable substitutes with comparable performance characteristics. This report provides a detailed analysis of the global cobalt salt market, valued at approximately $800 million in 2023, and projected to experience significant growth over the coming years. This in-depth study examines market dynamics, including key players, technological advancements, and regulatory landscapes, offering valuable insights for stakeholders across the value chain. The report utilizes extensive primary and secondary research to deliver accurate and actionable intelligence, focusing on crucial aspects such as market segmentation, concentration analysis, and future growth projections. High-search-volume keywords like "Cobalt Napthenate Market," "Cobalt Stearate Price," and "Cobalt Salt Applications" are integrated throughout the report for enhanced online discoverability.

The global cobalt-based 3D printing powder market is experiencing robust growth, projected to reach a value of $760 million in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 7.1% from 2025 to 2033. This expansion is driven by several key factors. The aerospace industry's increasing adoption of additive manufacturing for lightweight, high-strength components fuels significant demand. Similarly, the automotive sector leverages cobalt-based powders for producing durable and complex engine parts, contributing to market growth. Furthermore, the medical industry's use of cobalt-based powders in creating customized implants and tools is a rapidly expanding segment. Technological advancements in powder metallurgy, leading to improved powder quality and printability, further accelerate market expansion. The rising demand for high-performance materials in various industries, coupled with the cost-effectiveness and design flexibility offered by 3D printing, is anticipated to sustain this positive growth trajectory throughout the forecast period. However, the market faces challenges. Fluctuations in cobalt prices, a critical raw material, introduce price volatility and impact profitability. Supply chain complexities and the need for specialized equipment and expertise for processing cobalt-based powders can also hinder broader adoption. Nevertheless, ongoing research and development efforts aimed at improving powder synthesis techniques, optimizing printing parameters, and exploring alternative materials are expected to mitigate these challenges and further solidify the market's long-term prospects. The competitive landscape is characterized by a mix of established players like Höganäs, EOS, and Kennametal, alongside emerging companies focusing on specialized applications and niche markets. This dynamic landscape fosters innovation and enhances the availability of diverse product offerings, further propelling market growth.

Cobalt Energy market cap as of June 29, 2025 is $0B. Cobalt Energy market cap history and chart from 2010 to 2017. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding.

The global market for cobalt-based castings is experiencing robust growth, driven by increasing demand from key sectors like aerospace, medical devices, and automotive. These castings offer superior properties including high strength, wear resistance, and corrosion resistance, making them indispensable in applications requiring exceptional performance under demanding conditions. The market's Compound Annual Growth Rate (CAGR) is estimated to be around 7% between 2025 and 2033, indicating a substantial expansion of market size from an estimated $500 million in 2025 to over $900 million by 2033. This growth is fueled by advancements in casting technologies leading to improved precision and efficiency, alongside a rising focus on lightweighting and material optimization across various industries. However, the market faces challenges including the volatility of cobalt prices and environmental concerns regarding its extraction and processing. This necessitates the exploration of sustainable sourcing and recycling practices to ensure long-term market stability. Major players in the cobalt-based castings market include American Casting Company, Barron Industries, and several prominent companies based in China, highlighting a global distribution of production and demand. Segmentation within the market is likely driven by application (aerospace, automotive, etc.) and casting type. Future growth will be further influenced by technological innovations leading to improved performance characteristics and cost-effectiveness, along with stringent regulatory compliance regarding material sourcing and environmental impact. Continued research and development in cobalt alloys will likely focus on enhancing their properties for specific niche applications. Ultimately, the demand for high-performance materials in diverse sectors, coupled with ongoing advancements in manufacturing, positions the cobalt-based casting market for continued expansion.

Cobalt Hydroxide Market Outlook

The global cobalt hydroxide market size was valued at approximately USD 1.5 billion in 2023 and is projected to reach around USD 2.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.7% during the forecast period. The growth in this market is primarily driven by the rising demand for electric vehicles (EVs) and the rapid technological advancements in battery storage solutions.

One of the primary growth factors for the cobalt hydroxide market is the increasing adoption of electric vehicles. Governments worldwide are implementing stringent regulations to curb carbon emissions, which has led to a surge in the adoption of EVs. Cobalt hydroxide is a critical component in the manufacturing of lithium-ion batteries, which are extensively used in EVs. As the global automotive industry aggressively shifts toward electrification, the demand for cobalt hydroxide is expected to witness substantial growth. Additionally, consumer awareness about the environmental benefits of EVs further propels market expansion.

The advancements in renewable energy storage technology also significantly contribute to the market's growth. With the global energy sector transitioning towards sustainable energy sources such as solar and wind, there is a growing need for efficient energy storage solutions. Cobalt hydroxide-based batteries are known for their high energy density and long lifecycle, making them ideal for renewable energy storage applications. The increasing investments in renewable energy infrastructure are thus expected to bolster the demand for cobalt hydroxide in the coming years.

Moreover, the expanding electronics industry is another crucial factor driving the cobalt hydroxide market. The proliferation of portable electronic devices, such as smartphones, tablets, and laptops, has led to an increased demand for high-performance batteries. Cobalt hydroxide is an essential material in the production of these batteries, owing to its superior electrochemical properties. As global consumers continue to demand advanced electronic gadgets with extended battery life, the market for cobalt hydroxide is anticipated to grow accordingly.

The demand for Battery Grade Cobalt Sulfate is also on the rise as it plays a crucial role in the production of high-performance lithium-ion batteries. This compound is particularly valued for its purity and consistency, which are essential for ensuring the efficiency and longevity of batteries used in electric vehicles and portable electronics. As the market for electric vehicles expands, manufacturers are increasingly focusing on sourcing high-quality materials like Battery Grade Cobalt Sulfate to enhance the performance of their battery systems. This trend is expected to significantly contribute to the growth of the cobalt hydroxide market as well.

In terms of regional outlook, Asia Pacific holds a dominant position in the cobalt hydroxide market. The region's market growth is primarily driven by the presence of major battery manufacturers and the high demand for electric vehicles in countries like China, Japan, and South Korea. Furthermore, the rapid industrialization and urbanization in the region have led to increased consumption of electronics and renewable energy solutions, further propelling the market. North America and Europe also contribute significantly to the market, driven by the adoption of clean energy initiatives and the burgeoning EV market.

Grade Analysis

The cobalt hydroxide market is segmented by grade into battery grade and technical grade. Battery grade cobalt hydroxide holds the largest market share, owing to its extensive usage in the production of lithium-ion batteries. These batteries power a multitude of applications, from electric vehicles to portable electronic devices. The superior electrochemical properties of battery grade cobalt hydroxide, including high energy density and stability, make it a preferred choice for battery manufacturers. The rapid growth of the electric vehicle market is expected to further boost the demand for battery grade cobalt hydroxide.

Technical grade cobalt hydroxide, on the other hand, finds applications in various industrial processes such as catalysts, pigments, and ceramics. This grade is particularly valued for its cost-effectiveness and versatility. In the catalyst industry, technical grade cobalt hydroxide is used in chemical reactions to speed up processes and