Morocco has confirmed its position as a regional leader in the cobalt industry, accounting for 91 percent of total consumption in the Middle East and North Africa in 2024, according to a report by Indexbox.
National demand reached 234,000 tons this year, far ahead of Oman, the second consumer with only 23,000 tons. In value terms, the Moroccan market is estimated at 1.9 billion dollars compared to 525 million dollars for Oman.
This dominance is driven by the expansion of industries reliant on cobalt, including electric vehicle batteries and electronics.
Between 2013 and 2024, Moroccan cobalt consumption recorded an average annual increase of 1.4 percent in volume.
Per capita consumption now stands at 6.1 kilograms, compared with 4.2 kilograms in Oman, highlighting the strategic role of this metal in the national economy.
With growing needs in clean energy and electric mobility, cobalt is becoming central to Morocco’s industrial ambitions and global supply chains.
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