Automotive & Mobility Components · Direct
Monitoring · monthlyProcurement Category Intelligence
Battery Materials - Cobalt
Overview
Market size
$17
global, USD
CAGR
8.5%
base to forecast
Buyer power
-2.4
supplier-favoured
Suppliers
8
tracked players
Signals
12
3 high severity
Market outlook
2031$26
What changed
Demand by region
Asia Pacific demand65%
Europe demand18%
North America demand12%
Latin America demand3%
Rest of world demand2%
share of global demandtotal 100%
Cost drivers
Raw ore and feedstock extraction (DRC mine operations)45%
Refining and chemical processing (Cobalt hydroxide to sulphate conversion)25%
Logistics, ocean freight, and port handling fees15%
Energy and power utilities used in smelting10%
Compliance, ESG tracing, and sustainability auditing5%
share of delivered cost (analyst estimate)