Cobalt Hydroxide Market Growth Insights, Share, and Trends 2032 with 6.7% CAGR

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.