In 2023, China dominated the global import of cobalt, far surpassing other countries, with Belgium, the United States, and Japan trailing significantly. China's robust import activity continues to grow at a steady pace, underscored by a year-over-year increase of 5.42%. Singapore and Italy showed notable increases in imports, while countries such as Argentina and Colombia faced sharp declines. Over the last five years, there has been a consistent increase, highlighting the growing demand for cobalt, primarily driven by its use in the electric vehicle and electronics industries.
Future trends to watch include the impact of growing environmental regulations, the potential rise in cobalt recycling, and the shift towards alternative battery technologies, which could alter demand patterns. Countries investing in advanced technologies and sustainable practices may gain competitive advantage in the coming years.
Top countries in Import of Cobalt by Country
| # | 10 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 298,940,000 | 2023 | +4.6% | +5.42% | View data |
| 2 | 2 Belgium | 21,900,000 | 2023 | +6.5% | +3.66% | View data |
| 3 | 3 United States | 13,207,000 | 2023 | +1.56% | +1.59% | View data |
| 4 | 4 Japan | 9,140,000 | 2023 | -0.83% | -1.56% | View data |
| 5 | 5 United Kingdom | 6,785,100 | 2023 | +1.58% | +3.32% | View data |
| 6 | 6 South Korea | 3,746,500 | 2023 | +2.6% | +3.79% | View data |
| 7 | 7 Norway | 2,367,000 | 2023 | +1.59% | -5.82% | View data |
| 8 | 8 Netherlands | 2,298,100 | 2023 | +3.32% | +0.34% | View data |
| 9 | 9 France | 1,845,100 | 2023 | +1.58% | +2.74% | View data |
| 10 | 10 Malaysia | 1,160,500 | 2023 | +1.98% | +2.06% | View data |
