Cobalt

Cobalt is a metal that has been used for centuries for colouring ceramics and glassware. In the 20th century, cobalt began to be used increasingly in modern technologies such as aircraft turbines due to its high wear resistance, high temperature strength and unique magnetic properties. It is now highly in demand for the use in lithium-ion batteries for electric vehicles and portable devices such as mobile phones.

The electric vehicle market is developing rapidly. The International Energy Agency forecasts that there will be 200 million electric vehicles on roads across the globe by 2030, which translates to a cobalt demand growth for electric vehicle batteries from 160 000 tonnes in 2021 to 250 000 tonnes in 2030. Despite considerable efforts to reduce the cobalt content in batteries due to its high price and supply risks, it is difficult to substitute its unique properties and it is likely to play an important role in the battery technologies of the near future.

Figure 1  Dominant cobalt uses over time and increasing demand from electric vehicle (EV) batteries. BGS © UKRI. Data from Harper et al., 2012; IEA, 2022.

The second-largest use of cobalt is in batteries for portable devices. Such devices chiefly use batteries with a high cobalt content (lithium-cobalt oxide chemistry with 89 per cent cobalt) that have a high energy density and give them a long run-time. Cobalt is also used in many other applications, including various alloys such as superalloys for the aerospace industry and in hard metals (cemented carbide) for hard-wearing cutting and grinding tools. It is also used as a catalyst in oil and gas refinineries to remove sulphur and it is still used for colour pigments in ceramics, enamels, inks and glass, for which it has been used since antiquity. Other uses include magnets for wind turbines and motor sensors, hard facing, energy storage, tyres, soaps and paint driers.

Figure 2  Cobalt Institute (2023a). Data from Benchmark Mineral Intelligence.

Acquiring cobalt

Drivers and alternatives

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Contact

For questions regarding the UK Technology Metals Observatory, please contact Dr Evi Petavratzi (opens in a new tab).