Cobalt Market Size and Forecast: Regional Growth Trends by 2032

The global cobalt market is experiencing substantial growth, with a market value of USD 8.71 billion in 2021. According to recent insights, the market is expected to reach USD 19.47 billion by 2030, expanding at a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030. This growth is driven by increasing demand across various sectors such as electric vehicles (EVs), electronics, and energy storage.