Asia-Pacific: Market for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides 2024

Market Size for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in Asia-Pacific

After two years of decline, the Asia-Pacific cobalt oxides and hydroxides market increased by 9% to $X in 2021. Overall, consumption, however, continues to indicate a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in Asia-Pacific

In value terms, cobalt oxides and hydroxides production expanded slightly to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 38%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports in Asia-Pacific

In 2021, cobalt oxides and hydroxides exports in Asia-Pacific soared to X tons, increasing by 40% on the previous year. In general, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, cobalt oxides and hydroxides exports surged to $X in 2021. Overall, exports continue to indicate a tangible expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 83%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, China (X tons) represented the main exporter of cobalt oxides and hydroxides and commercial cobalt oxides, constituting 81% of total exports. It was distantly followed by Taiwan (Chinese) (X tons), achieving a 15% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to cobalt oxides and hydroxides exports from China stood at +2.8%. At the same time, Taiwan (Chinese) (+14.3%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +14.3% from 2012-2021. From 2012 to 2021, the share of China and Taiwan (Chinese) increased by +20 and +11 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest cobalt oxides and hydroxides supplier in Asia-Pacific, comprising 85% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 11% share of total exports.

In China, cobalt oxides and hydroxides exports expanded at an average annual rate of +6.9% over the period from 2012-2021.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, growing by 26% against the previous year. Over the period under review, the export price saw a moderate expansion. The most prominent rate of growth was recorded in 2018 an increase of 38% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.0%).

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports in Asia-Pacific

In 2021, after two years of decline, there was significant growth in overseas purchases of cobalt oxides and hydroxides and commercial cobalt oxides, when their volume increased by 38% to X tons. Over the period under review, imports, however, saw a perceptible shrinkage. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, cobalt oxides and hydroxides imports skyrocketed to $X in 2021. Overall, imports, however, saw a mild decline. The growth pace was the most rapid in 2018 with an increase of 88%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

South Korea prevails in imports structure, amounting to X tons, which was approx. 71% of total imports in 2021. It was distantly followed by Japan (X tons), mixing up a 10% share of total imports. China (X tons), Pakistan (X tons), Thailand (X tons), Taiwan (Chinese) (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to cobalt oxides and hydroxides imports into South Korea stood at -4.0%. At the same time, Taiwan (Chinese) (+13.3%), Thailand (+8.5%), Pakistan (+7.6%) and India (+4.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +13.3% from 2012-2021. By contrast, Japan (-3.2%) and China (-9.3%) illustrated a downward trend over the same period. While the share of Pakistan (+2 p.p.), Taiwan (Chinese) (+1.8 p.p.) and Thailand (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of China (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported cobalt oxides and hydroxides and commercial cobalt oxides in Asia-Pacific, comprising 73% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by Thailand, with a 3% share.

In South Korea, cobalt oxides and hydroxides imports plunged by an average annual rate of -1.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+1.3% per year) and Thailand (+13.2% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, with an increase of 15% against the previous year. Over the period under review, the import price saw pronounced growth. The growth pace was the most rapid in 2017 when the import price increased by 81%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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