Key Market Indicators
Belgian cobalt exports are expected to reach 2.1 million kilograms by 2026, up 1.3% year-on-year on average. Since 2004, the country's supply has grown by 62%. In 2021, Belgium was the world's 10th largest exporter, overtaken by Australia at 1.97 million kilograms. The United States, Russia, and China were the next three largest exporters. Belgian cobalt imports are forecast to reach 26 million kilograms by 2026, a 5.1% year-on-year rise on average. Since 2004, the country's demand has increased by 238%. In 2021, Belgium was the world's second largest importer, behind China's 19.2 million kilograms. Belgium, the United States, and Japan were the next three largest importers.