Roskill forecasts Cobalt demand roughly to double by 2030, with battery applications accounting for majority of the overall demand. Despite the growing trend towards reduced use of cobalt per unit in the automotive sector driven by cost and ESG concerns, on a contained basis, cobalt demand would still be boosted by the growing penetration of EVs and exponential growth in EV sales in the coming decade. In addition, with 5G supporting infrastructures rapidly being built up in China and elsewhere, Roskill believes the successful commercialization and roll-out of 5G technology can create new growth potential for the portable electronics industry from 2021 onwards, which can in turn boost smartphone sales and cobalt demand in the medium term. QUOTE.
Demand from EV makers in Europe, India , Malaysia, Indonesia & South Korea, will dominate the market IMO.
https://www.greencarcongress.com/2020/11/20201106-roskill.html
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