The forecasted data on cobalt refinery production in Japan shows a steady increase from 2024 onwards, growing from 5.74 thousand metric tons in 2024 to 6.55 thousand metric tons by 2028. This reflects a compound annual growth rate (CAGR) indicating a consistent upward trend. The year-on-year growth from 2024 to 2025 is approximately 3.66%, from 2025 to 2026 is about 3.53%, and from 2026 to 2027 is around 3.25%. The outlook for 2028 suggests a continuation of this upward trend.

Future trends to watch for:

Rising demand for electric vehicle batteries may drive cobalt production.
Policy developments within Japan favoring sustainable energy sources could influence refinery outputs.
Global market dynamics and technological advancements impacting cobalt utilization.