Cobalt Hydroxide Market Size, Trends, and Growth Rate for 2032 with a CAGR of 6.7%

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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%

 

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Cobalt Hydroxide Market Research Report 2032

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.