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市場調查報告書

商品編碼

1712534

全球鈷市場 - 2025-2032

Global Cobalt Market - 2025-2032

出版日期: 2025年04月22日 | 出版商:

DataM Intelligence | 英文 180 Pages | 商品交期: 最快1-2個工作天內

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簡介目錄

2024 年全球鈷市場規模達到 171.2 億美元，預計到 2032 年將達到 298.6 億美元，在 2025-2032 年預測期內的複合年成長率為 7.20%。

鈷在高溫合金、電動車 (EV) 電池和醫療技術中的使用日益增多，正在引發全球鈷市場的重大轉變。據鈷研究所稱，2022 年鈷的需求呈現彈性，年成長率為 13%，達到 187 千噸 (kt)，預計到 2030 年將以 10% 的年成長率成長四倍。

由於 2022 年 63% 的陰極需求來自含鈷的鋰離子化學物質，因此鈷已成為電動車電池供應鏈變化中不可或缺的元素。鈷對於保證電池壽命、性能和安全性至關重要，這些對於北美和歐洲的客戶需求至關重要。

儘管面臨環境問題和地緣政治困難等障礙，鈷產業仍對進一步擴張充滿希望。預計全球產量將在 2023 年超過 20 萬噸之後，到 2024 年將接近 30 萬噸。透過詳盡的市場報告，鈷研究所促進了支持鈷市場的複雜供應鏈的可及性和透明度。

市場趨勢

能源、汽車和醫療保健產業的變化對鈷市場產生了影響。如今，全球40%的鈷需求來自電動車，電動車產業成為發展的主要引擎。隨著鋰鎳錳鈷氧化物 (NMC) 電池在電動車中的使用越來越頻繁，鈷在提高電池能量密度和耐用性方面繼續發揮關鍵作用。

美國《通膨削減法案》等區域政策進一步刺激了電池製造業的發展，2022年8月至2023年3月期間，美國宣布了520億美元的供應鏈投資。波音公司計劃在2026年提高飛機產量，這進一步證明了鈷在航太高溫合金中的應用日益廣泛。

醫療保健行業的需求也在增加，因為鈷合金用於手術器械和骨科植入物。同時，印尼躍升為第二大鈷生產國，預計到 2030 年產量將成長十倍，顯示鈷的供應發生了重大變化。這些模式凸顯了鈷對於世界轉向綠色科技的重要性。

全球鈷市場動態

電氣化與環境永續性

全球對永續交通的日益重視，特別是透過交通電氣化，是推動鈷市場發展的主要因素。鈷在提高電動自行車、電力設備和電動車中使用的鋰離子電池的性能、安全性和續航里程方面發揮關鍵作用。

值得注意的是，由於其能量密度和熱穩定性，鈷基陰極（特別是含 10-20% 鈷的 NMC 類型）受到青睞。由於美國通膨削減法案等政府計劃加快對電動車基礎設施的投資，對電池級鈷的需求正在上升。鈷在航太高溫合金中的應用以及在醫藥應用中的生物相容性進一步鞏固了其重要性。

儘管全球都在努力實現淨零目標和永續能源轉型，但鈷的基本特性使其仍可繼續使用。預計到 2030 年鈷的使用量將加倍，這種材料與醫療保健、飛機和汽車等高成長產業的緊密聯繫保證了其在未來十年內需求將保持強勁。

地緣政治和環境危害

儘管鈷市場的成長軌跡令人鼓舞，但它仍面臨著重大的地緣政治和環境障礙。環境問題集中在剛果民主共和國（DRC），該國擁有全球 50% 的鈷儲量，2023 年鈷產量將佔全球 74%。

該國擁有世界第二大熱帶雨林，但由於採礦作業而遭到大規模破壞。環保組織和立法者對礦業公司砍伐數百萬棵樹木的估計感到震驚。這些環境問題帶來的更嚴格的監管可能會威脅鈷供應鏈的穩定性。

地緣政治擔憂加劇了市場風險。美國對進口精煉鈷徵收25%的關稅，凸顯了由於中國在精煉過程中佔據主導地位，鈷很容易受到貿易爭端的影響。隨著唐納德·特朗普繼續擔任領導人等政治變化，預計關稅將進一步上調。這些因素綜合起來，對鈷市場的長期生存構成了嚴重障礙。

The increasing use of cobalt in superalloys, electric vehicle (EV) batteries, and medical technology is causing a major shift in the worldwide cobalt market. According to the Cobalt Institute, the demand for cobalt showed resiliency in 2022, growing by 13% annually to reach 187 kilotons (kt), and it is expected to quadruple by 2030 at a 10% annual rate.

Since 63% of cathode demand in 2022 came from cobalt-containing lithium-ion chemistries, the element has become essential to the changing supply chain for EV batteries. Cobalt is essential for guaranteeing battery longevity, performance, and safety elements that are crucial to customer demand in North America and Europe.

The cobalt sector is hopeful about further expansion despite obstacles like environmental concerns and geopolitical difficulties. Global production is predicted to approach 300 kt in 2024 after surpassing 200 kt in 2023. Through thorough market reports, the Cobalt Institute promotes accessibility and transparency in the complex supply chain that supports the cobalt market.

Market Trend

Changes in the energy, automotive, and healthcare industries have an impact on the cobalt market. Today, 40% of the world's cobalt demand comes from electric vehicles, making this industry the main engine of development. Cobalt continues to play a critical role in improving battery energy density and durability as lithium-nickel-manganese-cobalt-oxide (NMC) batteries are used in EVs more frequently.

Battery manufacture has been further stimulated by regional policies like the US Inflation Reduction Act, with US$ 52 billion in supply chain investments announced between August 2022 and March 2023. Boeing's ambitions to boost aircraft production by 2026 further demonstrate the growing use of cobalt in aerospace superalloys.

The healthcare industry is also experiencing an increase in demand because cobalt alloys are used in surgical tools and orthopedic implants. In the meantime, a significant change in supply is indicated by Indonesia's rise to the position of second-largest producer of cobalt and its anticipated tenfold expansion by 2030. These patterns highlight how important cobalt is to the world's shift to greener technologies.

Global Cobalt Market Dynamics

Electrification and Environmental Sustainability

The growing emphasis on sustainable mobility worldwide, especially through the electrification of transportation, is the main factor propelling the cobalt market. Cobalt plays a key role in improving the performance, safety, and range of lithium-ion batteries used in e-bikes, power equipment, and electric cars.

Notably, because of their energy density and thermal stability, cobalt-based cathodes-particularly NMC kinds with 10-20% cobalt-are favored. The demand for battery-grade cobalt is rising as a result of government programs like the US Inflation Reduction Act that are speeding up investments in EV infrastructure. Cobalt's significance is further cemented by its use in aerospace superalloys and its biocompatibility in medicinal applications.

Cobalt's essential qualities allow for its continued use in spite of continuous substitute efforts as the globe strives for net-zero goals and sustainable energy transitions. With cobalt usage expected to double by 2030, the material's strong ties to high-growth industries like healthcare, aircraft, and automobiles guarantee that demand will be strong for the remainder of the decade.

Geopolitical and Environmental Hazards

Notwithstanding its encouraging growth trajectory, the cobalt market is confronted with significant geopolitical and environmental obstacles. Environmental concerns center on the Democratic Republic of the Congo (DRC), which holds 50% of the world's cobalt reserves and 74% of its production in 2023.

The nation's tropical rainforests, the second biggest in the world, have seen extensive destruction as a result of mining operations. Environmental organizations and legislators are alarmed by estimates that mining companies have felled millions of trees. The stability of the cobalt supply chain may be threatened by stricter regulations brought on by these environmental problems.

Market risks are being exacerbated by geopolitical concerns. The US has imposed a 25% duty on imported refined cobalt, highlighting the material's vulnerability to trade disputes due to China's dominance in the refining process. With political changes like Donald Trump's continued leadership, more tariff increases are expected. When combined, these elements present serious obstacles to the long-term viability of the cobalt market.

Segment Analysis

The global cobalt market is segmented based on product, end-user and region.

Cobalt Sulfate Leads Market on Rising Lithium Battery Demand

Batteries, cobalt sulfate has become a prominent commodity in the cobalt market, because it is widely used in many important industries, such as agriculture, dyeing, catalysts, and most significantly. It is essential for a variety of electronic products, including laptops, smartphones, and electric vehicles (EVs), due to its crucial role in the production of lithium-ion batteries.

Cobalt sulfate contributes to the increasing need for dependable and durable energy storage options by improving battery performance and lifespan. Investments in the manufacturing of lithium batteries are increasing as a result of the global trend toward electrification and smart technology.

For instance, in August 2024, General Motors Company and Samsung SDI announced a joint venture with a US$ 3.5 billion investment to build a 36 GWh battery manufacturing facility. The demand for cobalt sulfate is anticipated to rise sharply in the upcoming years as a result of these advances, enhancing its standing as a crucial product in the cobalt value chain.

Geographical Penetration

Policy-Driven Expansion of the Cobalt Market in North America

The growing demand for cobalt in the clean energy, high-tech, and healthcare sectors is expected to propel the market in North America. Strong research and development capabilities are likely to support increased consumption of magnetic alloys and medical implants, particularly in the US.

Innovative manufacturing and the aerospace and defense sectors are also expected to have a major impact on cobalt demand because of its special material qualities. Cobalt is also being used increasingly frequently in high-performance magnets and energy infrastructure parts as a result of the region's transition to renewable energy.

North America, and the US in particular, are now major participants in the global cobalt supply chain thanks to aggressive regulatory actions, particularly the Inflation Reduction Act (IRA). After the IRA, half of the US$ 52 billion spent in the region's EV supply chain went toward battery manufacture alone. The US may produce 5% of the world's cobalt by 2030, with production predicted to expand tenfold, indicating its growing strategic significance in this interconnected global market.

US Tariff Analysis

Global markets have expressed stress about the recent US reciprocal tariffs, which were declared by executive order on April 2, 2025; nonetheless, this important industry has experienced some stability because of the specific exemption of critical minerals, such as cobalt. Under its inclusion on the USGS 2022 Critical Minerals List, the US decided to exclude cobalt, as stated in Section 3(b) of the order, which also indicates the nation's reliance on imports to meet local demand.

Applying tariffs would have severely disrupted supply chains, especially in vital industries like EV batteries and defense, since the US imports the majority of its cobalt and produces none locally. Interestingly, imports of cobalt from China, which would normally be subject to a 34% duty beginning on April 9, are untouched.

The exception did not surprise market participants, who pointed out that taxing such a vital input would be impractical. However, there is still uncertainty surrounding Indonesian cobalt, which might be subject to a blanket 10% tax beginning on April 5.

Competitive Landscape

The major global players in the market include China Molybdenum Co., Ltd., Eurasian Resources Group, Freeport-McMoRan, Umicore, Glencore, Sumitomo Metal Mining Co., Ltd., Norilsk Nickel, Huayou Cobalt, Jinchuan Group, and Vale S.A.

Key Developments

In August 2024, the Pentagon announced a US$ 20 million award to build a cobalt refinery in Canada's Ontario province. Diversifying the cobalt supply chain from China to other nations is a goal of the US government.

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Target Audience 2024

Manufacturers/ Buyers
Industry Investors/Investment Bankers
Research Professionals
Emerging Companies

1. Methodology and Scope

1.1. Research Methodology
1.2. Research Objective and Scope of the Report

2. Definition and Overview

3. Executive Summary

3.1. Snippet by Product
3.2. Snippet by End-user
3.3. Snippet by Region

4. Dynamics

4.1. Impacting Factors
- 4.1.1. Drivers
  - 4.1.1.1. Electrification and Environmental Sustainability
- 4.1.2. Restraints
  - 4.1.2.1. Geopolitical and Environmental Hazards
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis

5. Industry Analysis

5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Sustainability Analysis
5.6. Industry Trend Analysis
5.7. US Tariff Analysis
5.8. DMI Opinion

6. By Product

6.1. Introduction
- 6.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 6.1.2. Market Attractiveness Index, By Product
6.2. Cobalt Sulfate*
- 6.2.1. Introduction
- 6.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
6.3. Cobalt Oxide
6.4. Cobalt Metal
6.5. Others

7. By End-user

7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 7.1.2. Market Attractiveness Index, By End-user
7.2. Electric Vehicles*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Batteries
7.4. Industrial Metals
7.5. Industrial Chemicals
7.6. Superalloys
7.7. Others

8. By Region

8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 8.1.2. Market Attractiveness Index, By Region
8.2. North America
- 8.2.1. Introduction
- 8.2.2. Key Region-Specific Dynamics
- 8.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 8.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 8.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 8.2.5.1. US
  - 8.2.5.2. Canada
  - 8.2.5.3. Mexico
8.3. Europe
- 8.3.1. Introduction
- 8.3.2. Key Region-Specific Dynamics
- 8.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 8.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 8.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 8.3.5.1. Germany
  - 8.3.5.2. UK
  - 8.3.5.3. France
  - 8.3.5.4. Italy
  - 8.3.5.5. Spain
  - 8.3.5.6. Rest of Europe
8.4. South America
- 8.4.1. Introduction
- 8.4.2. Key Region-Specific Dynamics
- 8.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 8.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 8.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 8.4.5.1. Brazil
  - 8.4.5.2. Argentina
  - 8.4.5.3. Rest of South America
8.5. Asia-Pacific
- 8.5.1. Introduction
- 8.5.2. Key Region-Specific Dynamics
- 8.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 8.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 8.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 8.5.5.1. China
  - 8.5.5.2. India
  - 8.5.5.3. Japan
  - 8.5.5.4. Australia
  - 8.5.5.5. Rest of Asia-Pacific
8.6. Middle East and Africa
- 8.6.1. Introduction
- 8.6.2. Key Region-Specific Dynamics
- 8.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 8.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user

9. Competitive Landscape

9.1. Competitive Scenario
9.2. Market Positioning/Share Analysis
9.3. Mergers and Acquisitions Analysis

10. Company Profiles

10.1. China Molybdenum Co., Ltd.*
- 10.1.1. Company Overview
- 10.1.2. Product Portfolio and Description
- 10.1.3. Financial Overview
- 10.1.4. Key Developments
10.2. Eurasian Resources Group
10.3. Freeport-McMoRan
10.4. Umicore
10.5. Glencore
10.6. Sumitomo Metal Mining Co., Ltd.
10.7. Norilsk Nickel
10.8. Huayou Cobalt
10.9. Jinchuan Group
10.10. Vale S.A.

LIST NOT EXHAUSTIVE