The market value of cobalt is anticipated to grow by more than double between 2023 and 2030, from an estimated 10.8 billion U.S. dollars in 2023 to a forecast 24.9 billion U.S. dollars in 2030.
Cobalt is produced as a by-product of copper and nickel mining, and has become an important material for the production of lithium-ion batteries.
Market value of cobalt worldwide from 2021 to 2023, with a forecast for 2030
(in million U.S. dollars)
*Figures from a previous edition of the press release from the source.
**Estimated as of July 2023.
***Forecast based on a CAGR of 12.6 percent during the period 2023-2030.
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Research and Markets. (July 31, 2023). Market value of cobalt worldwide from 2021 to 2023, with a forecast for 2030 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1172037/global-cobalt-market-size/
Research and Markets. "Market value of cobalt worldwide from 2021 to 2023, with a forecast for 2030 (in million U.S. dollars)." Chart. July 31, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1172037/global-cobalt-market-size/
Research and Markets. (2023). Market value of cobalt worldwide from 2021 to 2023, with a forecast for 2030 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1172037/global-cobalt-market-size/
Research and Markets. "Market Value of Cobalt Worldwide from 2021 to 2023, with a Forecast for 2030 (in Million U.S. Dollars)." Statista, Statista Inc., 31 Jul 2023, https://www.statista.com/statistics/1172037/global-cobalt-market-size/
Research and Markets, Market value of cobalt worldwide from 2021 to 2023, with a forecast for 2030 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1172037/global-cobalt-market-size/ (last visited November 21, 2024)
Market value of cobalt worldwide from 2021 to 2023, with a forecast for 2030 (in million U.S. dollars) [Graph], Research and Markets, July 31, 2023. [Online]. Available: https://www.statista.com/statistics/1172037/global-cobalt-market-size/
