Key Market Indicators
Korea's imports of cobalt are expected to hit 4 million kilograms by 2026, a 2% annual increase from the 3.6 million kilograms seen in 2021. The country has seen a steady year-on-year rise since 1993, with an average increase of 1.6%. In 2021, Korea ranked seventh, with Germany in the lead at 3.6 million kilograms. Belgium, the US and Japan followed in second, third and fourth place respectively. Meanwhile, exports of cobalt from Korea are projected to reach 4 million kilograms by 2026, a 3.5% rise from the 3.3 million kilograms recorded in 2021. Since 1993, supply has decreased on average by 3.2% each year. In 2021, Korea was seventh, with Madagascar in the lead at 3.3 million kilograms. The US, Russia and China took second, third and fourth place respectively.
