In 2023, India imported cobalt oxides and hydroxides amounting to an unspecified volume. Forecasts for 2024 to 2028 indicate a steady increase in imports, with values starting at 164.94 thousand kilograms in 2024 and reaching 178.97 thousand kilograms by 2028. The compound annual growth rate (CAGR) over these five years is indicative of a moderate upward trajectory, reflecting growing demand in sectors utilizing cobalt compounds.
Future trends to watch for include:
- The impact of India's expanding technological and clean energy sectors, potentially driving up cobalt demand.
- Global market shifts or policy changes affecting cobalt supply chains.
- Advancements in battery technology potentially altering cobalt usage.
