In 2024, China's cobalt refinery capacity is forecasted at 180.03 thousand metric tons, marking a significant growth from its standing in 2023, indicating increased production capabilities. A consistent upward trend is anticipated, with expected growth of approximately 4.9% year-on-year until 2028, when capacity may reach around 214.32 thousand metric tons. This implies a Compound Annual Growth Rate (CAGR) of roughly 4.4% from 2024 to 2028.

Future trends to watch for include:

Potential impact of technological advancements within the refinery processes.
Policy changes regarding environmental regulations affecting production capacity.
Increasing demand from the electric vehicle sector potentially driving capacity expansions.