Germany Cobalt Market Size, Share, and COVID-19 Impact Analysis, By Product (Cobalt Sulfate, Cobalt Oxide, and Cobalt Metal), By End-use (EV, Industrial Metals, and Superalloys) and Germany Cobalt Market Industry Trend, Forecasts to 2035

Germany Cobalt Market Insights Forecasts to 2035

• The Germany Cobalt Market Size was Estimated at USD 878.23 Million in 2024
• The Germany Cobalt  Market Size is Expected to grow at a CAGR of around 6.87% from 2025 to 2035
• The Germany Cobalt Market Size was Estimated at USD 182.6 Million in 2035

According to a research report published by Spherical Insights & Consulting, The Germany Cobalt Market Size is Anticipated to reach USD 1824.6 Million by 2035, growing at a CAGR of 6.87% from 2025 to 2035. 

Market Overview

The cobalt market involves the extraction, processing, and distribution of cobalt, a critical metal used in batteries, superalloys, and various industrial applications. Its primary benefit lies in enhancing energy density and stability in lithium-ion batteries, essential for electric vehicles (EVs) and portable electronics. Cobalt also improves strength and heat resistance in aerospace and defense components. The expanding with the global transition to clean energy, increasing EV adoption, and advancements in energy storage technologies. In Germany, government initiatives supporting e-mobility, renewable energy, and local battery manufacturing are driving cobalt demand. Funding for EV infrastructure, incentives for electric vehicle purchases, and partnerships promoting raw material supply chain security further strengthen the market’s growth outlook in the coming years.

Report Coverage

This research report categorizes the market for Germany cobalt market based on various segments and regions forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Germany cobalt market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment Germany cobalt market.

Driving Factors

The growing demand for lithium-ion batteries used in electric vehicles, smartphones, and energy storage systems. The shift toward clean energy and electrification, especially in countries like Germany, is accelerating cobalt consumption. Its essential role in improving battery performance, stability, and energy density further boosts demand. Additionally, expanding renewable energy projects, increasing investment in battery manufacturing, and strong government support for e-mobility and sustainable technologies are key factors propelling the cobalt market’s growth trajectory.

Restraining Factors

Ethical concerns over mining practices and child labor create regulatory and reputational challenges. Additionally, cobalt's high cost and price volatility affect market stability. Technological advancements in battery chemistry are also pushing manufacturers to reduce or eliminate cobalt use. These factors, along with recycling limitations and environmental concerns, may hinder the market's long-term growth potential.

Market Segmentation

The Germany cobalt market share is classified into product, and end-use.

• The cobalt sulfate segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The Germany cobalt market is segmented by product into cobalt sulfate, cobalt oxide, and cobalt metal. Among these, the cobalt sulfate segment held a significant share in 2024 and is expected to grow at a substantial CAGR during the forecast period.  Its critical use in lithium-ion battery production, essential for electric vehicles and renewable energy storage. Germany’s push towards e-mobility, backed by government policies and growing EV demand, has increased the need for battery-grade cobalt sulfate. Additionally, expansion in battery manufacturing facilities and investments in clean energy technologies are driving further growth.

• The EV segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The Germany cobalt market is segmented by end use into EV, industrial metals, and superalloys. Among these, the EV segment dominated a share in 2024 and is expected to grow at a significant CAGR during the forecast period. The rising adoption of electric vehicles driven by climate goals and government incentives. Cobalt is a key component in lithium-ion batteries, which power most EVs, ensuring high energy density and battery stability. Germany’s strong automotive industry, coupled with increased investment in battery production and e-mobility infrastructure, further boosts demand.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Germany cobalt market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Compamies

• BASF SE
• Chemetall GmbH
• H.C strack Tantalum and Niobium
• saarChem GmbH
• VDM Metals
• ELG Haniel GmbH
• Fox Chemicals GmbH
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Germany, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the Germany cobalt market based on the below-mentioned segments:

Germany Cobalt Market, By Product

• Cobalt Sulfate
• Cobalt Oxide
• Cobalt Metal

Germany Cobalt Market, By End-use

• EV
• Industrial Metals
• Superalloys