Cobalt Market, Revenue, Product Launches, Regional Share Analysis & Forecast
Introduction : The cobalt market has gained significant attention in recent years due to its crucial role in the production of lithium-ion batteries, which power electric vehicles (EVs) and various portable electronic devices. As the world transitions towards a greener and more sustainable future, the demand for cobalt is on the rise. However, the market faces challenges related to supply chain sustainability and ethical sourcing. This article explores the current state of the cobalt market, its key drivers, challenges, and the steps being taken to ensure a responsible and sustainable supply of this vital resource. Growing Demand and Key Applications : The increasing demand for cobalt is primarily driven by the rapid growth of the electric vehicle industry. Cobalt is a critical component of the cathode aerospace material used in lithium-ion batteries, which offer high energy density and long-lasting power. With governments around the world implementing policies to encourage the a