Higher efficiency in raw material recycling is discussed as a key strategy to decrease the environmental impact of resource consumption and to improve materials’ availability in order to mitigate supply risks. However, particularly in the case of technology metals, demand is driven by specific emerging technologies from which recycling will not be possible before the end of their useful lifetimes. Hence, the availability of secondary materials is limited by the amount of obsolete products as well as their collection, separation and treatment during waste management and recycling. In this paper, we present the results of a dynamic material flow model for cobalt as a key raw material for lithium-ion batteries at an European level (EU28). This model aims at quantifying the current state of recycling and future recycling potentials from end-of-life (EoL) product flows. While it is expectable that obsolete large battery packs from (hybrid) electric vehicles will be efficiently collected in future, EoL Li-ion battery flows will remain dominated by smaller electronic equipment (smartphones, laptops etc.) in the coming years and the model results show a significant potential for improvements in collection and material recovery from EoL batteries in Europe. ... mehrA major challenge will be the collection of smaller batteries and Waste Electrical and Electronic Equipment (WEEE) in general from which a significant share of total European cobalt demand could be recovered in the coming years.