세계의 코발트 프리 배터리 시장 예측(-2030년) : 유형별, 최종 사용자별, 지역별 분석

According to Stratistics MRC, the Global Cobalt Free Batteries Market is accounted for $1.65 billion in 2024 and is expected to reach $4.11 billion by 2030 growing at a CAGR of 16.4% during the forecast period. Cobalt-free batteries are energy storage solutions designed to minimize or eliminate the use of cobalt, a critical and often costly component traditionally used in lithium-ion batteries. The push for cobalt-free batteries stems from concerns about cobalt's ethical sourcing and environmental impact, as well as its fluctuating prices. These batteries typically use alternative materials, such as iron, nickel, or manganese, to achieve similar or improved performance characteristics. For instance, lithium iron phosphate (LiFePO4) batteries are a popular cobalt-free option, offering enhanced safety, stability, and cost-effectiveness compared to their cobalt-containing counterparts.

Market Dynamics:

Driver:

Rapid expansion of the electric vehicle

The rapid expansion of the electric vehicle (EV) market is significantly advancing the development of cobalt-free batteries, primarily driven by the quest for more sustainable and cost-effective energy storage solutions. Traditional lithium-ion batteries rely on cobalt, which raises concerns about supply chain risks, ethical mining practices, and environmental impact. In response, researchers and manufacturers are intensifying efforts to create alternatives that do not use cobalt or use it in much smaller quantities. These cobalt-free batteries often incorporate materials like lithium iron phosphate (LFP) or other innovative chemistries, which can offer comparable energy density and improved safety.

Restraint:

Lifecycle and recycling issues

Cobalt-free batteries, designed to reduce reliance on cobalt due to its ethical and environmental concerns, face significant lifecycle and recycling challenges. The manufacturing of these batteries often relies on alternative materials that can be less well-understood or harder to source sustainably. As these batteries age, their performance can degrade, potentially leading to issues in disposal and recycling. Unlike traditional lithium-cobalt batteries, which have well-established recycling processes, cobalt-free batteries may lack efficient recycling pathways, complicating the recovery of valuable materials and increasing waste.

Opportunity:

Rising public awareness of climate change

As public awareness of climate change intensifies, there is a growing push toward more sustainable technologies, including cobalt-free batteries. These batteries, which avoid using cobalt-a mineral often linked to environmental degradation and unethical mining practices-align with the broader movement for greener alternatives. Increased awareness has heightened consumer demand for eco-friendly products, compelling manufacturers to innovate and prioritize sustainability. This shift is driving research and development in cobalt-free battery technologies, which promise to reduce environmental impact and promote ethical sourcing.

Threat:

Research and development costs

The high research and development (R&D) costs associated with cobalt-free batteries are a significant barrier to their widespread adoption. Developing alternative battery chemistries that do not rely on cobalt involves extensive research to ensure they meet performance, safety, and longevity standards. This process requires substantial financial investment in both cutting-edge technologies and skilled personnel. However, building and scaling up production facilities for these new battery types entails further costs. Cobalt-free batteries must match or exceed the performance of traditional lithium-ion batteries, which necessitates rigorous testing and validation, driving up expenses.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the development and supply chain of cobalt-free batteries, which are crucial for advancing sustainable energy storage technologies. Initially, the pandemic disrupted global supply chains, affecting the production and distribution of essential materials for battery technologies, including those used in cobalt-free alternatives. As demand for electric vehicles (EVs) and renewable energy solutions surged, manufacturers faced challenges in sourcing raw materials and maintaining production schedules. The pandemic highlighted the vulnerabilities of cobalt-dependent battery systems, intensifying the push towards cobalt-free solutions to reduce supply chain risks and environmental concerns associated with cobalt mining.

The Lead Acid Batteries segment is expected to be the largest during the forecast period

Lead Acid Batteries segment is expected to be the largest during the forecast period. Traditionally, lead-acid batteries have relied on various metals and components, including cobalt, for enhancing performance and longevity. Cobalt, while valuable for its properties, poses environmental and ethical concerns due to mining practices. By focusing on cobalt-free alternatives, manufacturers aim to reduce the environmental impact and reliance on conflict minerals. These innovations involve improving the efficiency of lead-acid batteries through alternative materials and technologies that maintain or even enhance performance while avoiding the use of cobalt.

The Electric Vehicles segment is expected to have the highest CAGR during the forecast period

Electric Vehicles segment is expected to have the highest CAGR during the forecast period. Traditional lithium-ion batteries, commonly used in electronics and electric vehicles, rely heavily on cobalt, which poses ethical and environmental concerns due to its mining practices. Cobalt-free batteries, utilizing alternative chemistries like lithium iron phosphate (LFP) or sodium-ion, offer a promising solution by reducing reliance on scarce and controversial materials. These alternatives not only mitigate supply chain risks but also enhance safety and lower costs. As advancements in battery technology continue to evolve, cobalt-free batteries are becoming increasingly viable, supporting a greener and more resilient energy storage ecosystem.

Region with largest share:

North America region commanded the largest share of the market over the extrapolated period. As demand for sustainable and ethical energy solutions grows, companies, research institutions, and governments are joining forces to innovate and scale cobalt-free battery technologies. Collaborative efforts are focusing on overcoming technical challenges, improving battery performance, and reducing production costs. For example, partnerships between automakers and tech firms are leading to breakthroughs in battery chemistry and manufacturing processes.

Region with highest CAGR:

Europe region is poised to witness profitable growth during the projected period as these regulations are driven by the region's commitment to sustainability and reducing environmental impact. By enforcing stricter guidelines on the use of critical minerals like cobalt, which are often associated with unethical mining practices and supply chain vulnerabilities, European authorities are incentivizing the research and production of alternative battery technologies. The European Union's Battery Directive and other legislative measures are promoting innovation in battery chemistry, encouraging the shift towards more sustainable and ethical materials. This regulatory push not only aims to reduce dependence on cobalt but also supports the broader goals of the European Green Deal by facilitating the transition to cleaner energy solutions and reducing the carbon footprint of energy storage systems.

Key players in the market

Some of the key players in Cobalt Free Batteries market include BYD Company Limited, Contemporary Amperex Technology Co. Limited, Enevate Corporation, Freudenberg Sealing Technologies, LG Energy Solution, QuantumScape Corporation, Sion Power Corporation, Tesla, Inc and Toshiba Corporation.

Key Developments:

In January 2024, BYD signed a land pre-purchase agreement with the Szeged Municipal Government in Hungary for a passenger car factory. It marks a significant milestone in BYD's European expansion.

In September 2023, Under the partnership and licensing agreement, the two California-based companies, Enevate and NantG Power, will each contribute their proprietary cathode and anode innovations to commercialise and produce silicon-dominated battery technology in large quantities. The cells will be designed for electric vehicles, as well as electric scooters, heavy-duty drones and fast-charging storage systems.

In June 2023, The University of California, Irvine have developed a long-lasting cobalt-free batteries that are made with nickel. These batteries will be used in electronic vehicles.

Types Covered:

• Lead Acid Batteries
• Lithium Ferrous (Iron) Phosphate Battery

End Users Covered:

• Energy Storage
• Electric Vehicles
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 End User Analysis
• 3.7 Emerging Markets
• 3.8 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Cobalt Free Batteries Market, By Type

• 5.1 Introduction
• 5.2 Lead Acid Batteries
• 5.3 Lithium Ferrous (Iron) Phosphate Battery

6 Global Cobalt Free Batteries Market, By End User

• 6.1 Introduction
• 6.2 Energy Storage
• 6.3 Electric Vehicles
• 6.4 Other End Users

7 Global Cobalt Free Batteries Market, By Geography

• 7.1 Introduction
• 7.2 North America
  • 7.2.1 US
  • 7.2.2 Canada
  • 7.2.3 Mexico
• 7.3 Europe
  • 7.3.1 Germany
  • 7.3.2 UK
  • 7.3.3 Italy
  • 7.3.4 France
  • 7.3.5 Spain
  • 7.3.6 Rest of Europe
• 7.4 Asia Pacific
  • 7.4.1 Japan
  • 7.4.2 China
  • 7.4.3 India
  • 7.4.4 Australia
  • 7.4.5 New Zealand
  • 7.4.6 South Korea
  • 7.4.7 Rest of Asia Pacific
• 7.5 South America
  • 7.5.1 Argentina
  • 7.5.2 Brazil
  • 7.5.3 Chile
  • 7.5.4 Rest of South America
• 7.6 Middle East & Africa
  • 7.6.1 Saudi Arabia
  • 7.6.2 UAE
  • 7.6.3 Qatar
  • 7.6.4 South Africa
  • 7.6.5 Rest of Middle East & Africa

8 Key Developments

• 8.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 8.2 Acquisitions & Mergers
• 8.3 New Product Launch
• 8.4 Expansions
• 8.5 Other Key Strategies

9 Company Profiling

• 9.1 BYD Company Limited
• 9.2 Contemporary Amperex Technology Co. Limited
• 9.3 Enevate Corporation
• 9.4 Freudenberg Sealing Technologies
• 9.5 LG Energy Solution
• 9.6 QuantumScape Corporation
• 9.7 Sion Power Corporation
• 9.8 Tesla, Inc
• 9.9 Toshiba Corporation