The forecast for the import of cobalt to Brazil shows a steady increase from 2024 through 2028, reaching $74.898 million by 2028. With the value standing at an estimated $63.218 million for 2024, there is a consistent growth predicted in the coming years. The year-on-year increase is approximately 4.77% from 2024 to 2025 and 4.45% from 2025 to 2026, showing a healthy upward trend. The compound annual growth rate (CAGR) over these five years is expected to average around 4.33% annually.
Future trends to watch for include:
- The impact of global supply chain dynamics on cobalt prices.
- Technological advancements and shifts in demand driven by the electric vehicle and renewable energy sectors, which are key consumers of cobalt.
- Changes in trade policies and geopolitical factors that might affect Brazil’s import strategy.
