Global Cobalt Hydroxide Market Share, Trends, and Forecast 2032 with a CAGR of 6.7%

Fri, 07 Mar 2025 08:25:57 +0000

The global Cobalt Hydroxide Market has been experiencing significant growth, driven by the increasing demand for electric vehicles (EVs) and energy storage solutions. Cobalt hydroxide, a key component in the production of lithium-ion batteries, is expected to play a crucial role in the development of sustainable energy systems in the coming years. The market, valued at USD 5.20 billion in 2024, is forecast to grow at a compound annual growth rate (CAGR) of 7.1% from 2025 to 2031.