Cobalt is used in superalloys, stainless steels and other metallic applications, but cobalt chemicals are increasing as due to the rising demand for lithium-ion batteries used in consumer electronics, energy storage and electric vehicles (EVs).
According to Caspar Rawles, analyst at Benchmark Mineral Intelligence, the rise in EVs will lead to “substantial growth”. He believes 2020 will be when the majority of EVs come to market.
