Cobalt Hydroxide for Battery Market Forecast 2032

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The global Cobalt Hydroxide Market is witnessing a significant surge, driven by increasing adoption of electric vehicles (EVs), energy storage systems, and advancements in lithium-ion battery technologies. According to Dataintelo, the market is projected to grow from USD 621.3 million in 2023 to USD 1,142.7 million by 2031, registering a CAGR of 7.8% during the forecast period.

 

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Cobalt Hydroxide Market Report | Global Forecast From 2025 To 2033

The global cobalt hydroxide market size was valued at approximately USD 1.5 billion in 2023 and is projected to reach around USD 2.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.7% during the forecast period.