𝐌𝐞𝐫𝐠𝐞𝐫𝐬 & 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧𝐬 / 𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬
The Cobalt Market Size has witnessed notable mergers and acquisitions aimed at consolidating market positions and securing supply chains. For instance, Glencore, a major player in the cobalt industry, has been actively involved in strategic partnerships and supply agreements to strengthen its market presence. Such collaborations are crucial in ensuring a stable supply of cobalt to meet the rising demand from the EV and electronics sectors.
Recent developments also include investments in mining operations and processing facilities to enhance production capacities. Companies are focusing on sustainable and ethical sourcing of cobalt, with initiatives aimed at improving transparency and traceability in the supply chain. These efforts are in response to increasing regulatory scrutiny and consumer demand for responsibly sourced materials.
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Estimated Growth Rate for Cobalt Market
The Cobalt Market size was valued at 149.61 Kilo tons in 2024 and the total Cobalt revenue is expected to grow at a CAGR of 9% from 2025 to 2032, reaching nearly 298.11 Kilo tons.
Regional Analysis :
With over 80% of overall production coming from the top five countries, Africa was the market leader. The cobalt industry is dependent on one nation to provide and sustain this essential commodity, as evidenced by the DRC alone accounting for 71% of the global market. Approximately 70% of the cobalt produced worldwide comes from the Democratic Republic of the Congo (DRC). The vast majority of it is sent to China, the leading cobalt refiner in the world. The Democratic Republic of the Congo is the world’s greatest producer of cobalt, with reserves of about 3.6 million tonnes.
Cobalt Market Segmentation:
by Application
Battery Chemicals
Super alloys
Ceramics and pigments
Hard metals
Magnet
Binder Materials
Life Science
Others
by Form
Metal
Chemical compound
by End User
Alloys
Magnets
Hard Materials
Catalyst
Inks and Dyes
Batteries
Others
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Discover strategies of the key players in the market and explore how they are navigating trends, expanding their portfolios, and capitalizing on emerging applications. From global leaders to regional influencers, this report provides a complete competitive analysis.
1. Glencore plc (Switzerland)
2. Umicore (Belgium)
3. Vale S.A. (Brazil)
4. Jinchuan Group Internation Resources Co. Ltd. (Hong Kong)
5. Huayou cobalt Co Ltd (China)
6. Freeport cobalt (Finland)
7. Sherrit International Corporation (Canada)
8. BHP (Australia)
9. Eramet (France)
10. Votorantim Metals SA (Brazil)
11. Sumitomo Corporation (Japan)
12. CMOC International
13. Missouri Cobalt, LLC
14. China Molybdenum Co., Ltd.
15. Norilsk Nickel
16. GEM Co., Ltd.
17. Yantai Cash Industrial Co Ltd.
18. Horizonte Minerals
19. Jervois Mining
20. FLEURETTE PROPERTIES LIMITED
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Key Highlights:
- Historical Market Data (2019-2024)
- Forecasts by Segment, Region, and Industry Application (2025-2032)
- SWOT Analysis, Value Chain Insights, and Growth Drivers
- Legal Aspects by Region and Emerging Opportunities
Top Questions Answered:
- What are the key growth drivers and trends in the market?
- Who are the major players, and how do they maintain a competitive edge?
- What new applications are poised to revolutionize the Cobalt industry?
- How will the market grow in the coming years, and at what rate?
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