The forecast for re-import of cobalt to Canada shows a consistent upward trend from 2024 to 2028, with volumes expected to increase from 30.68 thousand kilograms in 2024 to 37.68 thousand kilograms in 2028. This represents a compound annual growth rate (CAGR) of approximately 5.2% over this period. The year-on-year growth rates indicate a steady increase, with each subsequent year showing an increment of between 1.7 and 2%.

In 2023, the actual re-import figures were lower, suggesting a notable increase in demand or necessity for cobalt re-imports, possibly driven by supply chain changes or industry needs.

Future trends to watch for include:

Technological advancements in battery production may drive further demand for cobalt.
Geopolitical developments affecting cobalt sourcing from global markets.
Environmental and regulatory pressures influencing the re-import dynamics.