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
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Cobalt Institute. (April 6, 2024). Distribution of cobalt demand worldwide in 2023, by application [Graph]. In Statista. Retrieved November 25, 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 November 25, 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: November 25, 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 November 25, 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/
