Morocco has emerged as the dominant force in cobalt consumption across the Middle East and North Africa, accounting for a staggering 91% of the region’s total demand in 2024. According to data from IndexBox, a platform focused on economic market analysis, Morocco consumed approximately 234,000 tonnes of cobalt this year—far surpassing any other country in the region.
The next closest consumer, Oman, trailed far behind with just 23,000 tonnes. Over the past decade, Morocco’s appetite for cobalt has grown at a steady pace, averaging a 1.4% annual increase in volume between 2013 and 2024.
The kingdom doesn’t just lead in volume—it also dominates in value. Morocco’s cobalt consumption this year is estimated at $1.9 billion, compared to Oman’s $525 million. On a per capita basis, Morocco remains ahead as well, with each resident accounting for roughly 6.1 kilograms of cobalt usage, while Oman stands at 4.2 kilograms per person.
Regionally, cobalt production has held steady at around 256,000 tonnes in 2024, mirroring last year’s figures. Over the last ten years, output has grown modestly, with an average annual increase of 1.5%. The total value of the region’s cobalt exports is estimated at $2.5 billion for the year.
Morocco has emerged as the dominant force in cobalt consumption across the Middle East and North Africa, accounting for a staggering 91% of the region’s total demand in 2024. According to data from IndexBox, a platform focused on economic market analysis, Morocco consumed approximately 234,000 tonnes of cobalt this year—far surpassing any other country in the region.
The next closest consumer, Oman, trailed far behind with just 23,000 tonnes. Over the past decade, Morocco’s appetite for cobalt has grown at a steady pace, averaging a 1.4% annual increase in volume between 2013 and 2024.
The kingdom doesn’t just lead in volume—it also dominates in value. Morocco’s cobalt consumption this year is estimated at $1.9 billion, compared to Oman’s $525 million. On a per capita basis, Morocco remains ahead as well, with each resident accounting for roughly 6.1 kilograms of cobalt usage, while Oman stands at 4.2 kilograms per person.
Regionally, cobalt production has held steady at around 256,000 tonnes in 2024, mirroring last year’s figures. Over the last ten years, output has grown modestly, with an average annual increase of 1.5%. The total value of the region’s cobalt exports is estimated at $2.5 billion for the year.
