World - Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCobalt Oxides And Hydroxides Market
The cobalt oxides and hydroxides market is forecasted to experience a downward consumption trend over the next eight years, with a projected decrease in market volume and value. Despite an initial increase in consumption in 2022, the overall trend is expected to decline. The Democratic Republic of the Congo dominates both consumption and production of cobalt oxides and hydroxides, with significant growth rates observed in both volume and value terms. Global imports and exports of cobalt oxides and hydroxides have seen fluctuating trends, with countries like Zambia and Namibia showing strong growth in exports. Average prices for imports and exports have also shown variation, with notable increases and decreases in different countries.
Market Forecast
The cobalt oxides and hydroxides market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -6.9% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 178K tons by the end of 2030.
In value terms, the market is forecast to contract with an anticipated CAGR of -3.7% for the period from 2022 to 2030, which is projected to bring the market value to $5B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides
After three years of decline, consumption of cobalt oxides and hydroxides and commercial cobalt oxides increased by 386% to 316K tons in 2022. Overall, consumption posted resilient growth. As a result, consumption attained the peak volume and is likely to continue growth in the immediate term.
The global cobalt oxides and hydroxides market size skyrocketed to $6.8B in 2022, with an increase of 412% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.
Consumption By Country
Democratic Republic of the Congo (271K tons) constituted the country with the largest volume of cobalt oxides and hydroxides consumption, comprising approx. 86% of total volume. It was followed by the United Arab Emirates (7K tons), with a 2.2% share of total consumption. The third position in this ranking was taken by Finland (5.3K tons), with a 1.7% share.
From 2012 to 2022, the average annual growth rate of volume in Democratic Republic of the Congo totaled +43.5%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United Arab Emirates (-11.1% per year) and Finland (+10.5% per year).
In value terms, Democratic Republic of the Congo ($5.6B) led the market, alone. The second position in the ranking was held by Finland ($205M). It was followed by South Korea.
In Democratic Republic of the Congo, the cobalt oxides and hydroxides market increased at an average annual rate of +42.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Finland (+15.7% per year) and South Korea (-5.0% per year).
In 2022, the highest levels of cobalt oxides and hydroxides per capita consumption was registered in Democratic Republic of the Congo (2.8 kg per person), followed by Finland (1 kg per person), the United Arab Emirates (0.7 kg per person) and South Korea (0.1 kg per person), while the world average per capita consumption of cobalt oxides and hydroxides was estimated at less than 0.1 kg per person.
In Democratic Republic of the Congo, cobalt oxides and hydroxides per capita consumption increased at an average annual rate of +39.0% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Finland (+10.3% per year) and the United Arab Emirates (-12.2% per year).
Production
World Production of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides
In 2022, approx. 411K tons of cobalt oxides and hydroxides and commercial cobalt oxides were produced worldwide; waning by -5.9% on the year before. In general, production, however, continues to indicate significant growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by 760%. Over the period under review, global production attained the maximum volume at 558K tons in 2018; however, from 2019 to 2022, production remained at a lower figure.
In value terms, cobalt oxides and hydroxides production declined slightly to $4.7B in 2022 estimated in export price. Overall, production, however, continues to indicate a significant increase. The growth pace was the most rapid in 2015 with an increase of 456% against the previous year. Global production peaked at $8.3B in 2018; however, from 2019 to 2022, production failed to regain momentum.
Production By Country
Democratic Republic of the Congo (384K tons) remains the largest cobalt oxides and hydroxides producing country worldwide, comprising approx. 93% of total volume. It was followed by China (10K tons), with a 2.5% share of total production.
From 2012 to 2022, the average annual rate of growth in terms of volume in Democratic Republic of the Congo totaled +48.6%.
Imports
World Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides
Global cobalt oxides and hydroxides imports dropped dramatically to 47K tons in 2022, which is down by -24.6% against the previous year's figure. Over the period under review, imports saw a slight decline. The pace of growth appeared the most rapid in 2017 with an increase of 42%. Global imports peaked at 80K tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.
In value terms, cobalt oxides and hydroxides imports totaled $1.3B in 2022. Overall, imports, however, enjoyed resilient growth. The growth pace was the most rapid in 2017 with an increase of 101% against the previous year. Over the period under review, global imports reached the peak figure at $2.2B in 2018; however, from 2019 to 2022, imports failed to regain momentum.
Imports By Country
In 2022, Zambia (11K tons), distantly followed by the United Arab Emirates (7K tons), Namibia (6.2K tons), South Korea (5.4K tons) and Belgium (3.4K tons) represented the main importers of cobalt oxides and hydroxides and commercial cobalt oxides, together comprising 71% of total imports. The following importers - the United States (1.9K tons), Spain (1.6K tons), Brazil (1.3K tons), Germany (1.3K tons), Democratic People's Republic of Korea (1K tons), Japan (1K tons), Italy (0.8K tons) and India (0.7K tons) - together made up 21% of total imports.
From 2012 to 2022, the biggest increases were recorded for Namibia (with a CAGR of +230.6%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, Zambia ($252M), South Korea ($246M) and Belgium ($121M) appeared to be the countries with the highest levels of imports in 2022, together comprising 47% of global imports. Namibia, the United Arab Emirates, the United States, Spain, Japan, Germany, Italy, Brazil, India and Democratic People's Republic of Korea lagged somewhat behind, together accounting for a further 43%.
Namibia, with a CAGR of +218.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
In 2022, the average cobalt oxides and hydroxides import price amounted to $27,887 per ton, increasing by 42% against the previous year. Over the period under review, the import price showed a buoyant increase. The pace of growth was the most pronounced in 2021 an increase of 52%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($51,347 per ton), while Democratic People's Republic of Korea ($10,589 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+33.8%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides
Global cobalt oxides and hydroxides exports shrank dramatically to 142K tons in 2022, waning by -67.3% compared with the previous year's figure. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 1,221%. The global exports peaked at 542K tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.
In value terms, cobalt oxides and hydroxides exports fell significantly to $3B in 2022. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 436%. Over the period under review, the global exports hit record highs at $11.4B in 2018; however, from 2019 to 2022, the exports failed to regain momentum.
Exports By Country
Democratic Republic of the Congo dominates exports structure, finishing at 113K tons, which was approx. 79% of total exports in 2022. Zambia (7.6K tons) ranks second in terms of the total exports with a 5.4% share, followed by Namibia (5.1%). China (6.1K tons) and Belgium (4.1K tons) followed a long way behind the leaders.
From 2012 to 2022, average annual rates of growth with regard to cobalt oxides and hydroxides exports from Democratic Republic of the Congo stood at -10.9%. At the same time, Zambia (+67.2%) and Namibia (+11.8%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in the world, with a CAGR of +67.2% from 2012-2022. China experienced a relatively flat trend pattern. By contrast, Belgium (-16.1%) illustrated a downward trend over the same period. While the share of Democratic Republic of the Congo (+79 p.p.), Zambia (+5.1 p.p.), Namibia (+5.1 p.p.) and Belgium (+2.9 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of China (-31.3 p.p.) displayed negative dynamics.
In value terms, Democratic Republic of the Congo ($2.2B) remains the largest cobalt oxides and hydroxides supplier worldwide, comprising 72% of global exports. The second position in the ranking was taken by China ($282M), with a 9.5% share of global exports. It was followed by Belgium, with a 6.4% share.
From 2012 to 2022, the average annual growth rate of value in Democratic Republic of the Congo was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: China (+7.0% per year) and Belgium (-14.1% per year).
Export Prices By Country
In 2022, the average cobalt oxides and hydroxides export price amounted to $20,945 per ton, with an increase of 43% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 109% against the previous year. Over the period under review, the average export prices hit record highs at $21,955 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($46,864 per ton), while Zambia ($10,895 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Namibia (+21.0%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global market for cobalt oxides and hydroxides. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20121930 - Cobalt oxides and hydroxides, commercial cobalt oxides
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
In value terms, cobalt oxides and hydroxides imports amounted to $X in 2016. Overall, cobalt oxides and hydroxides imports continue to indicate a noticeable slump. In that year, global cobalt oxide...
In value terms, cobalt oxides and hydroxides exports totaled $X in 2016. Overall, cobalt oxides and hydroxides exports continue to indicate a mild contraction. Global cobalt oxides and hydroxides e...