In 2023, the import of cobalt oxides and hydroxides to China stood at 86 million US dollars. Forecasts for 2024 and beyond indicate a steady annual growth in the value of imports, beginning at 90.933 million US dollars in 2024 and rising to 106.81 million US dollars by 2028. The year-on-year growth rates from 2024 onwards show incremental increases: 4.5% from 2024 to 2025, 4.2% from 2025 to 2026, 4% from 2026 to 2027, and 3.7% from 2027 to 2028. Over the forecasted five-year period, the CAGR stands at approximately 4.1%.

Future trends to watch for:

Increasing demand in the battery sector, particularly for electric vehicles, which could drive higher imports.
Technological advancements and shifts in global supply chains might impact supply and pricing dynamics.
Environmental and regulatory changes could influence production and trade policies, affecting import volumes.