The forecast for cobalt imports to India presents a gradual increase over the next five years. From 2024 to 2028, imports are projected to rise from 774.59 thousand kilograms to 818.39 thousand kilograms, reflecting a steady growth trajectory. If compared to typical year-on-year variations, the increments remain consistent as demand for cobalt continues to strengthen, driven by its applications in battery production and other technological industries. Import volumes in 2023 stood at approximately 764.95 thousand kilograms, reflecting a robust growth moving into 2024.
Future trends to watch for include:
- The impact of India’s electric vehicle policies on cobalt demand.
- Global cobalt supply chain stability and geopolitical influences.
- Technological advancements in battery recycling and alternative materials.
