Electric vehicle batteries accounted for a 45 percent share of the total global demand for cobalt in 2023. In second place that year, portable cobalt batteries accounted for a 26 percent share of global cobalt demand.
Different applications require different forms of cobalt. For example, lithium-ion batteries, catalysts, soaps and dryers, and pigments consume mostly cobalt chemicals. Magnets and nickel-based alloys on the other hand require only metallic forms of cobalt such as powders and cathodes. These different requirements therefore diversify the types of cobalt demanded and consumed.
Distribution of cobalt demand worldwide in 2023, by application
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Cobalt Institute. (April 6, 2024). Distribution of cobalt demand worldwide in 2023, by application [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1143399/global-cobalt-consumption-distribution-by-application/
Cobalt Institute. "Distribution of cobalt demand worldwide in 2023, by application." Chart. April 6, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1143399/global-cobalt-consumption-distribution-by-application/
Cobalt Institute. (2024). Distribution of cobalt demand worldwide in 2023, by application. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1143399/global-cobalt-consumption-distribution-by-application/
Cobalt Institute. "Distribution of Cobalt Demand Worldwide in 2023, by Application." Statista, Statista Inc., 6 Apr 2024, https://www.statista.com/statistics/1143399/global-cobalt-consumption-distribution-by-application/
Cobalt Institute, Distribution of cobalt demand worldwide in 2023, by application Statista, https://www.statista.com/statistics/1143399/global-cobalt-consumption-distribution-by-application/ (last visited December 22, 2024)
Distribution of cobalt demand worldwide in 2023, by application [Graph], Cobalt Institute, April 6, 2024. [Online]. Available: https://www.statista.com/statistics/1143399/global-cobalt-consumption-distribution-by-application/
