全球鈷工業(yè)市場前景及投資研究報告-培訓課件外文版2024.5

INDUSTRIES

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MARKETSCobaltindustryworldwideCHAPTER

01OverviewMarketvalueofcobaltworldwidefrom2021to2023,withaforecastfor2030(inmillionU.S.dollars)Globalmarketvalueofcobalt2021-203030,00025,00020,00015,00024,88010,8302023**9,630.252022*10,0005,00008,572.492021*2030***4Description:Themarketvalueofcobaltisanticipatedtogrowbymorethandoublebetween2023and2030,fromanestimated10.8billionU.S.dollarsin2023toaforecast24.9billionU.S.dollarsin2030.

ReadmoreNote(s):Worldwide;2021to2023;*Figuresfromapreviouseditionofthepressreleasefromthesource.**EstimatedasofJuly2023.***ForecastbasedonaCAGRof12.6percentduringtheperiod2023-2030.

ReadmoreSource(s):ResearchandMarketsForecastcobaltsupply,demand,andmarketsurplusworldwidein2023and2024(inmetrictons)Globalcobaltsupplyanddemandforecast2023-2024Figures

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tons210000Globalsupply2023Globaldemand2023205000SupplyfromDRCongo2023SupplyfromDRCongo2024Cobaltmarketsurplus2023Cobaltmarketsurplus2024180000225000557043155Description:Thetotalglobalsupplyofrefinedcobaltisestimatedtoamountto210,000metrictonsin2023,anincreaseof24percentcomparedto2022.Meanwhile,globalrefinedcobaltdemandisexpectedtoamountto205,000metrictonsin2023,representinganincreaseofeightpercentcomparedto2022.Overall,expertsareforecastingacobaltmarketsurplusofnearly5,600metrictonsin2023.

ReadmoreNote(s):Worldwide;asofMarch2023Source(s):Liberum;ReutersTaxcontributionsofthecobaltsupplychainworldwidein2021,withaforecastfor2030(inbillionU.S.dollars)Globaltaxcontributionsofthecobaltsupplychain2021-203020181614191210811642020212030*6Description:In2021,thetaxcontributionsofthecobaltsupplychainamountedtoatotalof11billionU.S.dollarsglobally.By2030,itisanticipatedthatthecobaltsupplychain'stotaltaxcontributionwillreachsome19billionU.S.dollarsworldwide.Moreover,theglobalmarketvalueofcobaltisexpectedtomorethandoublebetween2023and2030.ReadmoreNote(s):Worldwide;2021;*Forecast.ReadmoreSource(s):CobaltInstituteCHAPTER

02ReservesReservesofcobaltworldwidefrom2010to2022(inmillionmetrictons)Globalcobaltreserves2010-202298.38765432107.67.57.57.37.27.27.17.17.1776.920102011201220132014201520162017201820192020202120228Description:Thetotalglobalreservesofcobaltamountedto8.3millionmetrictonsin2022.Althoughcobaltisnotespeciallyrare,ranking32ndinglobalabundanceamongmetals,ithasbecomeanincreasinglyimportantcommodityduetoitsuseinbatteries,aswellasinalloys,chemicalsandceramics,cementedcarbides,andmore.ReadmoreNote(s):Worldwide;2010to2022Source(s):USGeologicalSurveyReservesofcobaltworldwidein2022,bycountry(inmetrictons)Majorcountriesbasedoncobaltreserves2022Cobaltreservesinmetrictons0500,0001,000,0001,500,0002,000,0002,500,0003,000,0003,500,0004,000,0004,500,000DRCongoAustralia4,000,0001,500,000IndonesiaCuba600,000500,000PhilippinesRussia260,000250,000220,000CanadaChina140,000MadagascarUnitedStatesPapuaNewGuineaTurkey100,00069,00047,00036,000Morocco13,000Othercountries610,0009Description:TheDemocraticRepublicoftheCongohasthelargestcobaltreservesintheworld,atsomefourmillionmetrictonsasof2022.Asthetotalglobalcobaltreservesamountto8.3millionmetrictons,thismeansthattheDRCongo`scobaltreservesaccountfornearlyhalfoftheworld`sreservesofthemetal.Australia,insecondplace,holdsanimpressive1.5millionmetrictonsoftheglobalcobaltreserves.

ReadmoreNote(s):Worldwide;2022Source(s):USGeologicalSurveyCHAPTER

03ProductionProductionvolumeofcobaltfromminesworldwidefrom2010to2022(inmetrictons)Cobaltmineproductionworldwide2010-2022200,000180,000160,000140,000190,000165,000148,000144,000142,000126,000123,000123,000120,000120,000100,00080,00060,00040,00020,0000110,000110,000107,000103,0002010201120122013201420152016201720182019202020212022*11Description:In2022,thetotalworldwidemineproductionvolumeofcobaltstoodatanestimated190,000metrictons.Thisfigurerepresentsthepeakworldwidecobaltproductionintheperiodofconsideration.

ReadmoreNote(s):Worldwide;2010to2022;*Estimated.Allfiguresarerounded.Thisstatisticwasassembledusingseveraleditionsofthereport.ReadmoreSource(s):USGeologicalSurveyBy-productproductionshareofcobaltworldwidefrom2013to2020,byprimaryproductGlobalby-productcobaltproductionsharebyprimarymetal2013-2020CopperNikelPGMs*Cobalt120%100%80%60%40%20%0%7%6%10%2%12%12.5%1%2%14%1.5%14%1%14%2%3%1.5%38%27%27%40%29%39%37%33.5%59.5%201958%54%55%50%49%49.5%201551%20132014201620172018202012Description:Cobaltismainlyproducedasaby-productofothermetals.Copperistheleadingprimaryproductfromwhichcobaltisproduced.Asof2020,cobaltproducedasaby-productatcopperminesaccountedfora55percentshareofthetotalglobalcobaltproducedthatyear.Nickelminingwasthesecond-largestsourceofcobaltby-productproductionthatyear,at29percent.Cobalt-specificminingoperationsaccountedforjust14percentofthetotalcobaltproducedworldwidethatyear.

ReadmoreNote(s):Worldwide;2013to2020;*Platinumgroupmetals:platinum,palladium,iridium,osmium,rhodium,andruthenium.ReadmoreSource(s):CobaltInstitute;Roskill;estimatesLeadingcobaltminesworldwidein2022,byproductionvolume(in1,000metrictons)Leadingcobaltminesworldwide2022,byproductionvolumeProductionvolumeinthousandmetrictons0MetalkolRTRProject(DRCongo)TenkeFungurumeMine(DRCongo)SicominesCopper-CobaltMine(DRCongo)KOVMine(DRCongo)10203040506057.061917.4113.4811.55MutandaMine(DRCongo)MashambaEastMine(DRCongo)9.9EtoileMine(DRCongo)RuashiMine(DRCongo)6.295.214.363.55WedaBayProject(Indonesia)MoaJointVentureProject(Cuba)13Description:In2022,theMetalkolRTRProjectmineintheDemocraticRepublicofCongo(DRCongo)wasbyfartheleadingmineworldwideintermsofcobaltproduction,withanestimatedoutputof57,060metrictonsofcobalt.Thatyear,eightoutof10tenlargestcobaltminesintheworldwerelocatedintheDRCongo.ReadmoreNote(s):Worldwide;2022Source(s):GlobalData;MiningTechnologyProductionvolumeofcobaltworldwidein2021,bypoliticalstabilityofproducercountries(in1,000metrictons)Productionvolumeofcobaltglobally2021,bypoliticalstabilityofproducers1009080706050403093.0126.622010014.84Fair0StableUnstableExtremelyunstable14Description:In2021,countriesclassifiedasextremelyunstableaccountedforthelargestshareofglobalcobaltproduction.Thatyear,93,010metrictonsofcobaltwasproducedbyextremelyunstablecountries.Incomparison,about15,000metrictonsofcobaltwereproducedbyfairlystablecountries,whilenonewasproducedbypoliticallystablecountries.ReadmoreNote(s):Worldwide;2021Source(s):BMLRT(?sterreich)CHAPTER

04CountriesMajorcountriesinworldwidecobaltmineproductionin2022(inmetrictons)Cobaltmineproductionworldwidebymajorcountries2022Productioninmetrictons60,000020,00040,00080,000100,000120,000140,000DRCongoIndonesiaRussia130,00010,0008,900Australia5,9003,900CanadaCuba3,8003,8003,0003,0002,7002,3002,200PhilippinesMadagascarPapuaNewGuineaTurkeyMoroccoChinaUnitedStates80016Description:Theleadingcountryinworldwidecobaltmineproductionin2022wastheDemocraticRepublicofCongo,havingproducedanestimated130,000metrictonsthatyear.ReadmoreNote(s):Worldwide;2022;Allfiguresareestimatedbythesource.Source(s):USGeologicalSurveyDistributionofminedcobaltsupplyworldwidein2022,bycountryGlobaldistributionofminedcobaltsupply2022,bycountryRestofworld13%Cuba3%Philippines3%Australia3%Indonesia5%DRCongo73%17Description:TheDemocraticRepublicoftheCongoaccountedforthemajorityofthetotalglobalsupplyofminedcobaltin2022,atnearlythree-quarters.Inadistantsecondplace,Indonesiaaccountedforafivepercentshareoftheglobalcobaltsupplyfromminesthatyear.ReadmoreNote(s):Worldwide;2022Source(s):BenchmarkMinerals;CobaltInstituteGrowthinminedsupplyofcobaltworldwidein2022comparedto2021,bycountry(inmetrictons)Globalyear-over-yeargrowthincobaltsupplyfrom2021-2022,bycountrySupplygrowthinmetrictons10,000

15,00005,00020,00025,00023,83630,000DemocraticRepublicoftheCongoIndonesia6,760Madagascar1,1001,094AustraliaNewCaledoniaRestofworld81667118Description:In2022theglobalsupplyofminedcobaltamountedtoatotalof197,791metrictons,whichwasanincreaseof34,277metrictonscomparedtothepreviousyear.TheDemocraticRepublicoftheCongoaccountedfora70percentshareoftheoverallyear-over-yearincreaseinglobalcobaltsupply,havingproducedanincreased23,836metrictonsofcobaltfromminesin2022comparedto2021.

ReadmoreNote(s):Worldwide;2022Source(s):BenchmarkMinerals;CobaltInstituteMineproductionofcobaltintheDemocraticRepublicofCongofrom2010to2022(inmetrictons)CobaltmineproductionintheDemocraticRepublicofCongo2010-2022140,000120,000100,000130,000119,000104,000100,00098,00080,00073,00066,00063,00063,00060,00060,00060,00040,00020,000054,00051,000201020112012201320142015201620172018201920202021*2022*19Description:In2022,mineproductionofcobaltintheDRCongototaledsome130,000metrictons,thepeakproductionvolumeintheindicatedperiod.DRCongoistheworld'slargestproducerofcobaltfrommines,accountingfornearly70percentofworldwidecobaltmineproductionin2022.ReadmoreNote(s):DemocraticRepublicoftheCongo;2010to2022Source(s):USGeologicalSurveyMineproductionofcobaltinRussiafrom2011to2022(in1,000metrictons)CobaltmineproductioninRussia2011-202210998.98876.36.36.36.36.36.26.15.965432105.520112012201320142015201620172018201920202021*2022*20Description:Russia'smineproductionofcobaltreachedanestimated8.9thousandmetrictonsin2022,up11percentfromthepreviousyear.In2020,Russiaproducedthelargestvolumeofcobaltovertheobservedperiod,atninethousandmetrictons.Thecountryisthesecond-leadingcobaltproducerworldwide.ReadmoreNote(s):Russia;2011to2022;*Estimate.Thestatistichasbeencompiledfromseveralreportsbythesource.ReadmoreSource(s):USGeologicalSurveyProductionofcobaltinAustraliafrom2011to2021(in1,000metrictons)CobaltproductioninAustralia2011-202165.424.984.985432104.774.723.73.23.232.92.52011201220132014201520162017201820192020202121Description:In2021,Australiaproduced2.5thousandtonsofcobalt.Thisrepresentsadecreasefromthepreviousyearandasignificantdecreasefrom2014'speakof5.4thousandtons.

ReadmoreNote(s):Australia;2011to2021Source(s):WorldBureauofMetalStatisticsDistributionofforecastminedsupplygrowthofcobaltworldwidebetween2022and2030,bycountryForecastminedsupplygrowthshareofcobaltworldwide2022-2030,bycountryRestofworld13%Australia6%DemocraticRepublicofCongo44%Indonesia37%22/statistics/1411925/global-cobalt-potential-mined-supply-growth-forecastTheDemocraticRepublicofCongo(DRC)heldthelargestshareofpotentialminedsupplygrowthintheworldbetween2022and2030,accountingforroughly44percent.By2030,theglobalminedsupplyofcobaltisforecasttogrowto388,000metrictons.ReadmoreNote(s):Worldwide;2022;potentialminedsupplygrowthofcobaltworldwideby2030comparedto2022Source(s):CobaltInstituteCHAPTER

05RefinedproductionRefinerycapacityofcobaltworldwidein2020,byleadingcountry(inmetrictons)Globalrefinerycapacityofcobalt2020,bytopcountriesAnnualrefinerycapacityinmetrictons60,000

80,000

100,000020,00040,000120,000140,000160,000180,000ChinaFinland166,00016,500ZambiaCanada9,6008,020AustraliaDRCongo*MadagascarJapan*6,9006,0505,6005,5005,200NorwayRussia*3,000SouthAfrica*Belgium*Morocco3,0003,0002,80024Description:Chinahasthelargestrefinerycapacityforcobaltintheworld,withacapacityamountingto166,000metrictonsasofDecember31,2020.Thecountrywiththesecond-largestcobaltrefiningcapacityatthattimewasFinland,withamuchsmallercapacityof16,500metrictons.ReadmoreNote(s):asofDecember31,2020;*Estimated.Dataroundedtonomorethanthreesignificantdigits;maynotaddtototalshown.Includesstandbycapacity.Refineryproductsincludecobaltmetal,metalpowders,oxides,andsalts.

ReadmoreSource(s):USGeologicalSurveyRefineryproductionofcobaltworldwidefrom2011to2021(inmetrictons)Globalcobaltrefineryproduction2011-2021160,000140,000120,000136,826133,631126,456124,344116,937100,00082,24793,88991,75485,90486,42577,18980,00060,00040,00020,00002011201220132014201520162017201820192020202125Description:In2021,thetotalworldwiderefineryproductionofcobaltamountedtoanestimated136,826metrictons.Cobaltdemandhasbeenincreasinginrecentyearsduetoincreaseddemandforbatteriescontainingcobalt.

ReadmoreNote(s):Worldwide;2011to2021Source(s):CobaltInstitute;WorldBureauofMetalStatisticsGrowthinrefinedsupplyofcobaltworldwidein2022comparedto2021,byregion(inmetrictons)Growthinrefinedcobaltsupplyworldwide2021-2022byregionSupplygrowthinmetrictons2,000

4,000-6,000-4,000-2,00006,0008,00010,00012,00014,000China11,800AfricaNorthAmericaEurope2,2001,100350Restofworld-3,32026Description:In2022theglobalsupplyofrefinedcobaltamountedtoatotalof165,000metrictons,representinganincreaseof12,130metrictonsfromthepreviousyear.Chinaaccountedforthehighestshareofthisyear-over-yearsupplyincrease,withanadditional11,800metrictonsofrefinedcobaltsupplied.ReadmoreNote(s):Worldwide;2022Source(s):BenchmarkMinerals;CobaltInstituteDistributionofrefinedcobaltproductionworldwidein2022,bycountryGlobaldistributionofrefinedcobaltproductionin2022,bycountryShareofproduction0%10%20%30%40%50%60%70%80%ChinaFinland76%10%Canada4%Norway2%2%2%AustraliaMadagascarDRCongoMoroccoRussia1%1%1%1%Restofworld27Description:Chinaaccountedformorethanthree-quartersofthetotalglobalproductionofrefinedcobaltin2022.Inadistantsecondplacethatyear,Finlandaccountedfora10percentshareofglobalrefinedcobaltproduction.ReadmoreNote(s):Worldwide;2022Source(s):BenchmarkMinerals;CobaltInstituteRefineryproductionofcobaltinChinafrom2010to2020(inmetrictons)CobaltrefineryproductioninChina2010-2020100,00090,00090,00090,00080,00070,00060,00050,00040,00030,00020,00010,000083,10075,00053,50049,90043,80040,10035,90035,00029,8002012201020112013201420152016201720182019202028Description:RefineryproductionofcobaltinChinatotaledanestimated90,000metrictonsin2020.ThatisasignificantincreaseincomparisontoChina'scobaltrefineryproductionin2016,whichamountedtolessthan50,000metrictons.ReadmoreNote(s):China;2010to2020;estimated.Cobaltformsincludemetal,metalpowder,oxides,andsalts.Source(s):USGeologicalSurveyCHAPTER

06TradeLeadingcobaltoxidesandhydroxidesimportingcountriesworldwidein2021,basedonvalue(inmillionU.S.dollars)Importvalueofcobaltoxidesandhydroxidesworldwidein2021,bycountryImportvalueinmillionU.S.dollars050100150200250300SouthKoreaBelgiumSpain241.43106.36101.93NamibiaUnitedStatesZambiaJapan80.2575.7355.7441.03GermanyItaly37.4427.46FranceBrazilThailandIndia17.8114.439.728.3330Description:SouthKoreaistheworld'sleadingimportercountryofcobalt,intheformofcobaltoxidesandhydroxidesaswellascommercialcobaltoxides.In2021,theEastAsiancountryimportednearlyseventhousandmetrictonsofthemetal,withavalueof241.43millionU.S.dollars.RankingsecondwasBelgium,whichimportedapproximately106.36millionU.S.dollarsofcobalt.ReadmoreNote(s):Worldwide;2021;Figuresrefertocobaltoxidesandhydroxides,andcommercialcobaltoxides.Source(s):UNComtrade;WITSDistributionofcobaltimportsworldwidein2021,bycountryGlobaldistributionofcobaltimportsbycountry2021Shareofimports0%10%20%30%40%50%60%70%ChinaJapanUnitedStatesNetherlandsBelgium62.5%6.24%5.04%3.83%2.44%Taiwan2.14%1.94%1.87%1.76%1.71%GermanySouthKoreaUnitedKingdomNorwayFrance1.05%CanadaIreland0.87%0.82%31Description:In2021,nearly63percentoftheglobalcobaltimportsbasedonvaluewenttoChina.China'sshareofglobalcobaltimportshadamonetaryvalueof4.28billionU.S.dollarsthatyear.Japanwastheworld'ssecond-largestcobaltimporterin2021,havingaccountedfor6.24percentofglobalcobaltimportsbasedonvalue.ReadmoreNote(s):Worldwide;2021;Importsbasedonvalue.Cobaltmattesandotherintermediateproductsofcobaltmetallurgy,cobaltandarticlesthereof,includingwasteandscrap.Source(s):Centred'EtudesProspectivesetd'InformationsInternationales;TheObservatoryofEconomicComplexityDistributionofcobaltexportsworldwidein2021,bycountryGlobaldistributionofcobaltexportsbycountry2021Shareofimports0%10%20%30%40%50%60%70%DRCongoCanadaUnitedStatesFinlandNorwayNetherlandsChina57.6%5.96%4.34%3.74%3.13%1.99%1.96%1.96%1.95%1.94%1.93%1.67%1.67%AustraliaJapanBelgiumGermanyUnitedKingdomRussia32Description:In2021,theDemocraticRepublicoftheCongo,whichistheworld'slargestproducerofcobalt,accountedfornearly58percentoftheglobalexportsofcobaltbasedonvalue.Thatcorrespondedtoanexportvalueof4.8billionU.S.dollarsin2021,upfrom2.36billionU.S.dollarsin2020.Canadawastheworld'ssecond-largestcobaltexportingcountrythatyear,withadistant5.96percentofglobalexportsbasedonvalue.ReadmoreNote(s):Worldwide;2021;ExportsbasedonvalueSource(s):Centred'EtudesProspectivesetd'InformationsInternationales;CHELEMVolumeofcobaltexportedfromtheDemocraticRepublicofCongofrom2016to2020(inmetrictons)CobaltexportsfromDRCongo2016-2020120,000109,402100,00085,85582,46177,96480,00068,82260,00040,00020,00002016201720182019202033Description:In2020,thevolumeofcobaltexportedfromtheDemocraticRepublicofCongoamountedtonearly86,000metrictons.Intheperiodofconsideration,theAfricannation'scobaltexportspeakedin2018atmorethan109,000metrictons.Thispeakexportvolumecoincidedwithapeakincobaltpricesthatyear.ReadmoreNote(s):DemocraticRepublicoftheCongo;2016to2020Source(s):BGR;CentralBankoftheCongo;Expert(s)(Schütte)CHAPTER

07CompaniesMarketcapitalizationofselectedrefinedcobaltproducingcompaniesworldwideasofJanuary2021(inmillionU.S.dollars)Globalmarketcapitalizationofselectedrefinedcobaltproducers2021MarketcapitalizationinmillionU.S.dollars0100200300400500600700WesternAreasMincor598.7393.3Jervois302.3PanoramicTalon269.1256.8CleanTeQCentaurusMetalsSherritt225.4221.4184.1Poseidon162.6FPXNickel106.6104.396.7BlackstoneMineralsFirstCobaltAustralianMines73.435Description:AsofJanuary2021,theAustralian-headquarteredrefinedcobaltproducingcompanyWesternAreasLtdhadamarketcapitalizationofsome598.7millionU.S.dollars.MincorResourcesNL,alsoanAustralianrefinedcobaltproducer,hadamarketcapof393.3millionU.S.dollarsatthattime.ReadmoreNote(s):Worldwide;asofJanuary15,2021Source(s):Bloomberg;JervoisMining;S&PCapitalIQRefinedcobaltproductionworldwidein2021*,bycompany(inmetrictons)Globalrefinedcobaltproduction,bycompany2021Productioninmetrictons40,000

60,000020,00080,000100,000120,000China(totalproduction)**Umicore(excludingChina)Jervois***101,30010,1008,5007,5004,100GlencoreSumitomoSherritt3,1002,9002,8002,3001,700ValeCanadaAmbatovyNornickelCTTMorocco36Description:ItwasforecastthatUmicore'sproductionofrefinedcobalt(excludingproductioninChina)in2021wouldamountto10,100metrictons.Insecondplace,Glencore'stotalrefinedcobaltproductionin2021wasforecasttoamountto8,500metrictonsin2021.ThetotalproductionofrefinedcobaltbyallcompaniesinChinathatyearwasforecasttoamountto101,300metrictons.ReadmoreNote(s):Worldwide;2020;*Figuresforecastasof2020.**Company-leveldatanotreadilyavailable.***Proformabasedon6,250metrictonsperannumcapacityofFreeportCobaltandapproximately2,250metrictonsperannumcapacityofSMP.

ReadmoreSource(s):DartonCommodities;JervoisMiningGlencore'scobaltproductionfrom2015to2022(in1,000metrictons)Glencore'sproductionofcobalt2015-20225046.343.84540353025201510542.231.328.327.427.42302015201620172018201920202021202237/statistics/915558/cobalt-production-glencoreIn2022,theSwiss-basedcompanyreportedacobaltproductionofsome43.8thousandmetrictons.Glencoreisoneoftheleadingproducersofcobaltworldwide.GlencoreplcwasnewlyformedinMay2013throughamergerofGlencorewithXstrata.ReadmoreNote(s):Worldwide;2015to2022Source(s):GlencoreCobaltproductionofValeS.A.from2014to2022(incontainedmetrictons)Vale'sproductionofcobalt2014-20227,0006,0005,0005,7995,8115,0934,5334,3764,0003,0002,0001,00003,7432,5232,47320202,43420222014201520162017201820192021*38Description:TheBrazilianminingcompanyValeS.A.producedatotalof2,434metrictonsofcobaltin2022.Valeproducescobaltasaby-productatnickelminesmainlyinSudbury,Thompson,andVoisey`sBay,alllocatedinCanada.

ReadmoreNote(s):Worldwide,Canada;2014to2022;*InMarch2021,ValeS.A.concludedthesaleoftheNewCaledoniamine.Accordingly,asof2021,NewCaledonia'sproductionisnolongerincludedinthedata.Thisstatisticwasassembledusingseveral[...]

ReadmoreSource(s):ValeNumberofjobsinthecobaltindustryworldwidein2010and2021,withaforecastfor2030(in1,000s)Numberofcobaltindustryjobsworldwide2010-20301,6001,4001,2001,0008001,5008636004002882000201020212030*39Description:Thecobaltindustryemployednearly900,000peopleworldwideasof2021,whichwasapproximatelythreetimesasmuchasin2010.Furthermore,itisforecastthattheglobalcobaltindustrywillaccountforsome1.5millionjobsbytheyear2030,asglobalcobaltdemandisexpectedtoincreasedrasticallyincomingyears.ReadmoreNote(s):Worldwide;2010and2021;*Forecast.ReadmoreSource(s):CobaltInstituteCHAPTER

08ConsumptionConsumptionvolumeofcobaltworldwidein2019and2020(inmetrictons)Globalcobaltconsumption2019&2020160,000140,000120,000100,00080,00060,00040,00020,0000136,000135,2002019202041Description:Theconsumptionvolumeofcobaltworldwideamountedtoapproximately135,200metrictonsin2020.Thatwasabout800metrictonslessthanthecobaltconsumptionworldwideinthepreviousyear.

ReadmoreNote(s):Worldwide;2019and2020Source(s):CobaltInstitute;RoskillYear-over-yearchangeincobaltdemandworldwidefrom2018to2022(inpercent)Globalcobaltdemandannualgrowthrate2018-202230%25%20%15%10%27%13%13%6%4%5%0%2018201920202021202242Description:Thetotalyear-over-yearglobaldemandvolumeofcobaltincreasedby13percentin2022comparedto2021.Cobaltdemandamountedto187,000metrictonsworldwidein2022,anincreaseof21,000metrictonscomparedto2021.

ReadmoreNote(s):Worldwide;2018to2022Source(s):BenchmarkMinerals;CobaltInstituteDistributionofcobaltconsumptionworldwidein2020,byregionGlobalcobaltconsumptionshare2020,byregionShareofconsumption0%5%10%15%20%25%30%35%ChinaEurope32.05%22.5%NorthAmericaAsiaex.ChinaSouth&CentraIAmericaMiddleEast17.65%17.55%4.65%2.25%2.2%AfricaOceania1.05%43/statistics/1304242/global-cobalt-consumption-distribution-by-regionChinawasbyfartheworld'slargestcobaltconsumingregionin2020,accountingforsome32percentoftheglobalcobaltconsumption.TherestofAsiaexcludingChinaaccountedfornearly17.6percentofthecobaltconsumedworldwidethatyear.

ReadmoreNote(s):Worldwide;2020Source(s):CobaltInstitute;Roskill;estimatesDistributionofcobaltdemandworldwidein2022,byapplicationGlobalshareofcobaltdemand2022,byend-useOthers10%Ceramics&colors3%Catalysts3%Hardmetals5%Electricvehiclebatteries40%Superalloys9%Portablebatteries30%44Description:Electricvehiclebatteriesaccountedfora40percentshareofthetotalglobaldemandforcobaltin2022.Insecondplacethatyear,portablecobaltbatteriesaccountedfora30percentshareofglobalcobaltdemand.Thetotalglobalcobaltdemandamountedto187,000metrictonsin2022.ReadmoreNote(s):Worldwide;2022Source(s):BenchmarkMinerals;CobaltInstituteShareofrawmaterialformsofcobaltconsumedworldwidein2020,byapplicationGlobalcobaltconsumptionrawmaterialshares2020,byapplicationChemicalsMetal120%100%80%60%40%20%0%0%0%3.5%20.3%100%100%100%100%100%96.5%79.7%0%0%0%MagnetsSoaps&dryersPigmentsBatteriesCatalysts&othersToolmaterialsNickeI-basealloys45Description:Differentendusesofcobaltrequiredif