The Middle East cobalt market size was estimated at USD 116.73 million in 2025 and is expanding at a CAGR of 5.9% from 2026 to 2035. Due to rising demand from electric vehicles, energy storage systems, and electronics, increasing investments in renewable energy and battery manufacturing, along with government diversification strategies, are also driving market growth.

Middle East Cobalt Market Statical Scope

Technological advancements are focused on improving battery efficiency, recycling, and sustainable processing. Innovations in lithium-ion battery chemistry, including high nickel and low cobalt cathodes, are optimizing performance while reducing cobalt use. Advanced hydrometeorological techniques and solvent extraction are enhancing cobalt recovery from recycled batteries.

Additionally, growing investment in direct battery recycling and digital technologies is improving efficiency, lowering environmental effects, and supporting a circular supply chain.

Middle East Cobalt Market Share, By Country, 2025 (%)

• UAE- Due to strong demand from electric vehicles, renewable energy storage, and aerospace industries, government initiatives promoting sustainable battery technologies and recycling in price structures are further strengthening growth, positioning the use as an emerging hub for advanced cobalt applications.
• Saudi Arabia- Due to rising investments in mining battery production and renewable energy projects, government initiatives are encouraging mineral exploration and local processing. The growing demand for electric vehicles and energy for systems is further supporting the cobalt market development in the country.

Middle East Cobalt Market Share, By Product, 2025 (%)

• Cobalt Sulfate- The segment dominated the market with a 71% share, due to its extensive lithium-ion battery production. Rising electric vehicle demand and energy storage applications significantly drive its high consumption share.
• Cobalt Oxide- The segment accounted for 12% of the total market share, due to its limited but steady use in ceramics, pigments, and some battery applications. Lower demand compared to cobalt Sulfate restricts its overall market contribution.
• Cobalt Metal- The segment accounted for 17% of the total market share. Due to its specialized and industrial applications, limited demand compared to battery-focused compounds like cobalt sulfate keeps its market proportion lower.

Middle East Cobalt Market Share, By End-Use, 2025 (%)

• Electric Vehicles- The segment dominated the market with a 37% share, due to strong demand for lithium-ion batteries, growing EV adoption, supportive policies, and expanding charging infrastructure, which significantly boosted cobalt consumption in these sectors.
• Industrial Metals- The segment accounted for 17% of the total market share, due to cobalt's use in alloys, cutting tools, and machinery. Steady demand from manufacturing and construction support is consistent, but the market contribution is not.
• Industrial Chemicals- The segment accounted for 32% of the total market share, due to cobalts being used in catalysts, pigments, and chemical processing. Moderate demand across industries limits its contribution compared to battery-related applications.
• Superalloys- The segment accounted for 14% of the total market share, due to cobalt's role in high-temperature corrosion-resistant materials used in the aerospace and energy sectors, ensuring steady but specialized demand across the region.

Top Companies in the Middle East Cobalt Market

• Ma'aden
• Saudi Aramco
• Emirates Global Aluminium (EGA)
• Advanced Battery Metals Middle East
• Qatar Mining Company (QM)
• Aluminium Bahrain (Alba)
• Dubai Multi Commodities Centre (DMCC)
• Rusal Middle East
• FAMCO (Fajr Capital)
• Gulf Mining Group

Segments Covered in the Report

By Product

• Cobalt Sulfate
• Cobalt Oxide
• Cobalt Metal
• Others

By End Use

• Electric Vehicles
• Other Batteries
• Industrial Metals
• Industrial Chemicals
• Superalloys