In 2023, the import value of cobalt to Italy stood at a baseline not provided here, but the forecasts suggest a steady upward trend from 2024 to 2028. The import value is projected to increase from $32.88 million in 2024 to $35.777 million by 2028. This indicates a year-on-year growth of approximately 2.3% from 2024 to 2025, gradually rising each year to reach just over 2% by 2028. The Compounded Annual Growth Rate (CAGR) for the period from 2024 to 2028 is around 2.1%.
Future trends to watch for include:
- The potential impact of changes in global cobalt demand, particularly driven by the electric vehicle market.
- Supply chain adjustments as Italy may diversify its import sources or increase domestic exploration activities.
- Economic conditions and technological advancements that could affect cobalt usage and consequently its import volumes.
