North America Cobalt Market Size & Outlook, 2024-2030

The cobalt market in North America is expected to reach a projected revenue of US$ 1,266.9 million by 2030. A compound annual growth rate of 3.8% is expected of North America cobalt market from 2025 to 2030.
Revenue, 2024 (US$M)
$1,013.9
Forecast, 2030 (US$M)
$1,266.9
CAGR, 2025 - 2030
3.8%
Report Coverage
North America

North America cobalt market highlights

  • The North America cobalt market generated a revenue of USD 1,012.2 million in 2022.
  • The market is expected to grow at a CAGR of 2.8% from 2023 to 2030.
  • In terms of segment, cobalt sulfate was the largest revenue generating product in 2022.
  • Cobalt Sulfate is the most lucrative product segment registering the fastest growth during the forecast period.
  • Country-wise, U.S. is expected to register the highest CAGR from 2023 to 2030.


North America data book summary

Market revenue in 2022USD 1,012.2 million
Market revenue in 2030USD 1,266.9 million
Growth rate2.8% (CAGR from 2022 to 2030)
Largest segmentCobalt sulfate
Fastest growing segmentCobalt Sulfate
Historical data covered2018 - 2021
Base year for estimation2022
Forecast period covered2023 - 2030
Quantitative unitsRevenue in USD million
Market segmentationCobalt Sulfate, Cobalt Oxide, Cobalt Metal
Key market players worldwideCMOC Group Ltd Class H, Eurasian Resources Group, Freeport-McMoRan Inc, Glencore PLC, Sumitomo Metal Mining Co Ltd, Umicore SA ADR


Other key industry trends

  • In terms of revenue, North America region accounted for 6.3% of the global cobalt market in 2022.
  • Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
  • Asia Pacific is the fastest growing regional market and is projected to reach USD 21,131.4 million by 2030.

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Cobalt Market Scope

Cobalt market segmentation & scope
Cobalt Sulfate
Cobalt Oxide
Cobalt Metal
Others
Electric Vehicles
Other Batteries
Industrial Metals
Industrial Chemicals
Superalloys

Cobalt Market Companies

Name Profile # Employees HQ Website

North America cobalt market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cobalt market will help companies and investors design strategic landscapes.


Cobalt sulfate was the largest segment with a revenue share of 70.03% in 2024. Horizon Databook has segmented the North America cobalt market based on cobalt sulfate, cobalt oxide, cobalt metal covering the revenue growth of each sub-segment from 2018 to 2030.


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Horizon Databook provides a detailed overview of continent-level data and insights on the North America cobalt market , including forecasts for subscribers. This continent databook contains high-level insights into North America cobalt market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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North America cobalt market size, by country, 2018-2030 (US$M)

North America Cobalt Market Outlook Share, 2024 & 2030 (US$M)

North America cobalt market size, by country, 2018-2030 (US$M)

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