The import of cobalt to Germany is forecasted to steadily increase from $350.92 million in 2024 to $402.1 million by 2028. In 2023, the import value stood at approximately $338 million. This indicates a gradual year-on-year increase, with an expected Compound Annual Growth Rate (CAGR) over the five years being around 3.4%. Such trends reflect Germany’s increasing demand for cobalt, driven by its expansion in electric vehicle production and battery manufacturing.

Future trends to watch for include:

Increased global competition for cobalt resources, potentially impacting prices and import strategies.
Technological advancements in battery alternatives that may influence cobalt demand.
Policy changes focused on sustainability that could affect importation patterns.