Cobalt Market is projected to witness robust growth at an astounding CAGR of over 8% to reach a market value of around USD 13.6 billion by the end of 2027. Based on form, the cobalt market has been segmented into metal, chemical compound, and purchased scrap. The chemical compound segment held the largest share of the market with a market value of over USD 3,800 million in 2019. The organic and inorganic chemical compounds of cobalt find their use in various applications. Cobalt electrolyte is used in lithium-ion batteries for high-performance vehicles such as electric trains, electric cars, and bikes. It is also used in various electronic devices such as digital cameras and smartphones. Cobalt Market