Recycled Cobalt Market Size is valued at USD 1.46 Bn in 2024 and is predicted to reach USD 4.72 Bn by the year 2034 at a 12.8% CAGR during the forecast period for 2025-2034.
Recycled cobalt refers to cobalt that has been extracted from used goods or waste materials and has been processed for reuse, which helps with sustainable resource management. Cobalt is a vital metal that is mostly used in lithium-ion batteries, alloys, and electronic components. It is highly sought after because of its use in energy storage systems, particularly in electric vehicles (EVs), smartphones, and power tools. Recycled cobalt protects supply chains, lessens environmental effects, and reduces the need for mining. Recycling cobalt is mostly used in the production of batteries, where it improves the energy density and longevity of lithium-ion batteries.
Moreover, it is crucial in the production of superalloys, which are necessary for high-performance applications in the aerospace and defense industries. The growing need for sustainable practices across a range of industries, especially electronics and electric cars, is propelling the recycled cobalt market's rapid evolution. Stricter laws governing mining operations, growing consumer consciousness of sustainable sourcing, and developments in recycling technology that improve cobalt recovery efficiency are further elements driving this rise. By 2033, the recycled cobalt market could approach USD 5 billion, reflecting the increased emphasis on circular economy concepts. Government programs that encourage the use of recycled materials and lessen dependency on virgin cobalt sources are supporting this trend.
However, the process of recycling cobalt can be complicated because advanced technology and specialized facilities are required. Because of the expenses involved in gathering, sorting, and processing materials for cobalt recovery, recycled cobalt may not be as competitive as newly mined cobalt. This can hinder the growth of the market. Furthermore, improvements in recycling technologies are increasing the cost-effectiveness and efficiency of cobalt recovery. Higher recovery rates are made possible by new processes, including hydrometallurgical techniques and direct recycling of battery materials, which make the recycling process more feasible and scalable. By increasing the supply of recycled cobalt, this trend is fostering market expansion.
The Recycled Cobalt market is segmented based on R?cycling T?chnology, Sourc?, Application, and End-user. Based on R?cycling T?chnology, the market is segmented into Dir?ct R?cycling, Hydrom?tallurgical Proc?ss?s, Pyrom?tallurgical Proc?ss?s, and M?chanical Proc?ss?s. By Sourc?, the market is segmented into End-of-Lif? Batt?ri?s, El?ctronics Wast?, Industrial Scrap, Mining and R?fining. By Application, the market is segmented into El?ctric V?hicl? Batt?ri?s, A?rospac? and D?f?ns? Alloys, Consum?r ?l?ctronics, and En?rgy Storag? Syst?ms. By End-user, the market is segmented into El?ctronics & Applianc?s, Automotiv?, A?rospac?, and En?rgy & Pow?r.
The Hydrom?tallurgical Proc?ss?s category is expected to hold very large global market share in 2024 as a result of the increased demand for hydrometallurgical techniques, which are ideal for meeting expanding demand because they offer higher recovery rates, are more environmentally friendly, and are effective at extracting cobalt from complex materials like battery waste. This technique makes a substantial contribution to the recycling industries in North America and Europe.
The largest source is end-of-life batteries, particularly those found in consumer electronics and electric cars, which are recycled cobalt. Because of growing battery disposal and e-waste recycling programs, these batteries account for more than 60% of recovered cobalt worldwide. Tailings and slags from cobalt mining operations are among the mining waste that makes up around 15% of the recycled supply. Even if the yield is less efficient, this source is becoming more and more feasible due to developments in extraction methods. When combined, these resources are essential for enhancing sustainability and lowering dependency on primary cobalt mining.
The North American Recycled Cobalt market is expected to register the highest market share in revenue in the near future due to growing interest in sustainable practices and the electric vehicle (EV) sector's increasing demand. The North American area is well-positioned to maintain its leading position in the recycled cobalt industry as the market develops thanks to innovation, wise investments, and a strong dedication to sustainability. In addition, Europe is projected to grow rapidly in the global Recycled Cobalt market. The region's strong electronics manufacturing sector, large investments in renewable energy technology, and quickly expanding electric vehicle (EV) market all contribute to its significance. Furthermore, the Europe region's focus on R&D, together with supportive government regulations and incentives for the adoption of EVs, increases demand for recycled cobalt.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 1.46 Bn |
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Revenue Forecast In 2034 |
USD 4.72 Bn |
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Growth Rate CAGR |
CAGR of 12.8% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Bn, Volume (KT) and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Umicor?, Miracle Automation Engineering, Norilsk Nick?l, Li-Cycl? Corp., Aqua M?tals, Inc., El?ctra Batt?ry Mat?rials Corporation, Redwood Materials, GEM, Huayou Holding Group, CNGR Advanced Material, Gl?ncor? Int?rnational AG, BRUNP RECYCLING, Guangdong Guanghua Sci-Tech, Ganzhou Highpower Technology, TES, and Others. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global R?cycl?d Cobalt Mark?t Snapshot
Chapter 4. Global R?cycl?d Cobalt Mark?t Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Porter's Five Forces Analysis
4.7. Incremental Opportunity Analysis (US$ MN), 2024-2034
4.8. Competitive Landscape & Market Share Analysis, By Key Player (2023)
4.9. Use/impact of AI on R?cycl?d Cobalt Mark?t Industry Trends
4.10. Global R?cycl?d Cobalt Mark?t Penetration & Growth Prospect Mapping (US$ Mn), 2021-2034
Chapter 5. R?cycl?d Cobalt Mark?t Segmentation 1: By Sourc?, Estimates & Trend Analysis
5.1. Market Share by Sourc?, 2024 & 2034
5.2. Market Size (Revenue (US$ Million) & Volume (KT)) & Forecasts and Trend Analyses, 2021 to 2034 for the following Sourc?:
5.2.1. Industrial Scrap
5.2.2. El?ctronics Wast?
5.2.3. Mining and R?fining
Chapter 6. R?cycl?d Cobalt Mark?t Segmentation 2: By R?cycling T?chnology, Estimates & Trend Analysis
6.1. Market Share by R?cycling T?chnology, 2024 & 2034
6.2. Market Size (Revenue (US$ Million) & Volume (KT)) & Forecasts and Trend Analyses, 2021 to 2034 for the following R?cycling T?chnology:
6.2.1. Hydrom?tallurgical Proc?ss?s
6.2.2. Pyrom?tallurgical Proc?ss?s
6.2.3. Dir?ct R?cycling
6.2.4. M?chanical Proc?ss?s
Chapter 7. R?cycl?d Cobalt Mark?t Segmentation 3: By Application, Estimates & Trend Analysis
7.1. Market Share by Application, 2024 & 2034
7.2. Market Size (Revenue (US$ Million) & Volume (KT)) & Forecasts and Trend Analyses, 2021 to 2034 for the following Application:
7.2.1. El?ctric V?hicl? Batt?ri?s
7.2.2. Consum?r ?l?ctronics
7.2.3. A?rospac? and D?f?ns? Alloys
7.2.4. En?rgy Storag? Syst?ms
Chapter 8. R?cycl?d Cobalt Mark?t Segmentation 3: By End User, Estimates & Trend Analysis
8.1. Market Share by End User, 2024 & 2034
8.2. Market Size (Revenue (US$ Million) & Volume (KT)) & Forecasts and Trend Analyses, 2021 to 2034 for the following End User:
8.2.1. Automotiv?
8.2.2. El?ctronics & Applianc?s
8.2.3. A?rospac?
8.2.4. En?rgy & Pow?r
Chapter 9. R?cycl?d Cobalt Mark?t Segmentation 5: Regional Estimates & Trend Analysis
9.1. Global R?cycl?d Cobalt Mark?t, Regional Snapshot 2024 & 2034
9.2. North America
9.2.1. North America R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Country, 2021-2034
9.2.1.1. US
9.2.1.2. Canada
9.2.2. North America R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Sourc?, 2021-2034
9.2.3. North America R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by R?cycling T?chnology, 2021-2034
9.2.4. North America R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Application, 2021-2034
9.2.5. North America R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by End User, 2021-2034
9.3. Europe
9.3.1. Europe R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Country, 2021-2034
9.3.1.1. Germany
9.3.1.2. U.K.
9.3.1.3. France
9.3.1.4. Italy
9.3.1.5. Spain
9.3.1.6. Rest of Europe
9.3.2. Europe R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Sourc?, 2021-2034
9.3.3. Europe R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by R?cycling T?chnology, 2021-2034
9.3.4. Europe R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Application, 2021-2034
9.3.5. Europe R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by End User, 2021-2034
9.4. Asia Pacific
9.4.1. Asia Pacific R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Country, 2021-2034
9.4.1.1. India
9.4.1.2. China
9.4.1.3. Japan
9.4.1.4. Australia
9.4.1.5. South Korea
9.4.1.6. Hong Kong
9.4.1.7. Southeast Asia
9.4.1.8. Rest of Asia Pacific
9.4.2. Asia Pacific R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Sourc?, 2021-2034
9.4.3. Asia Pacific R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by R?cycling T?chnology, 2021-2034
9.4.4. Asia Pacific R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Application, 2021-2034
9.4.5. Asia Pacific R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by End User, 2021-2034
9.5. Latin America
9.5.1. Latin America R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Country, 2021-2034
9.5.1.1. Brazil
9.5.1.2. Mexico
9.5.1.3. Rest of Latin America
9.5.2. Latin America R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Sourc?, 2021-2034
9.5.3. Latin America R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by R?cycling T?chnology, 2021-2034
9.5.4. Latin America R?cycl?d Cobalt Market (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Application, 2021-2034
9.5.5. Latin America R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by End User, 2021-2034
9.6. Middle East & Africa
9.6.1. Middle East & Africa Wind Turbine Rotor Blade Market (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by country, 2021-2034
9.6.1.1. GCC Countries
9.6.1.2. Israel
9.6.1.3. South Africa
9.6.1.4. Rest of Middle East and Africa
9.6.2. Middle East & Africa R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Sourc?, 2021-2034
9.6.3. Middle East & Africa R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by R?cycling T?chnology, 2021-2034
9.6.4. Middle East & Africa R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by Application, 2021-2034
9.6.5. Middle East & Africa R?cycl?d Cobalt Mark?t (Revenue (US$ Million) & Volume (KT)) Estimates and Forecasts by End User, 2021-2034
Chapter 10. Competitive Landscape
10.1. Major Mergers and Acquisitions/Strategic Alliances
10.2. Company Profiles
10.2.1. F. Umicor?
10.2.1.1. Business Overview
10.2.1.2. Key Sourc?/Service Overview
10.2.1.3. Financial Performance
10.2.1.4. Geographical Presence
10.2.1.5. Recent Developments with Business Strategy
10.2.2. Gl?ncor? Int?rnational AG
10.2.3. Norilsk Nick?l
10.2.4. Li-Cycl? Corp.
10.2.5. Aqua M?tals, Inc.
10.2.6. El?ctra Batt?ry Mat?rials Corporation
10.2.7. GEM
10.2.8. Huayou Holding Group
10.2.9. CNGR Advanced Material
10.2.10. BRUNP RECYCLING
10.2.11. Miracle Automation Engineering
10.2.12. Redwood Materials
10.2.13. Guangdong Guanghua Sci-Tech
10.2.14. Ganzhou Highpower Technology
10.2.15. TES
10.2.16. Among Others
Recycled Cobalt Market By R?cycling T?chnology-
Recycled Cobalt Market By Sourc?-
Recycled Cobalt Market By Application-
Recycled Cobalt Market By End-User-
Recycled Cobalt Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
