The cobalt refinery capacity in India stood at 2.22 thousand metric tons in 2023. The forecasted data from 2024 to 2028 shows a steady annual growth, with capacities rising incrementally from 2.25 in 2024 to 2.38 thousand metric tons by 2028. This represents a compounded annual growth rate (CAGR) of 1.12%. Year-on-year growth remains consistent around 1.33%, indicating a stable positive trend in the country's refining capacity.
Future trends to watch for include technological advancements in refining processes, regulatory changes affecting the mining and refining sectors, and shifts in global cobalt demand, especially due to the rising electric vehicle market. Close attention should be paid to environmental policies that could impact production levels.
