Brazil: Market for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides 2024

Market Size for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in Brazil

The Brazilian cobalt oxides and hydroxides market surged to $X in 2021, with an increase of 36% 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). Overall, consumption, however, showed a deep contraction. Cobalt oxides and hydroxides consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports from Brazil

In 2021, approx. X tons of cobalt oxides and hydroxides and commercial cobalt oxides were exported from Brazil; picking up by 55% compared with the year before. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 523%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, cobalt oxides and hydroxides exports surged to $X in 2021. In general, exports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 576%. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

Argentina (X tons), the United States (X tons) and South Korea (X tons) were the main destinations of cobalt oxides and hydroxides exports from Brazil, together accounting for 98% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +35.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cobalt oxides and hydroxides exported from Brazil were Argentina ($X), the United States ($X) and Chile ($X), with a combined 98% share of total exports. These countries were followed by South Korea, which accounted for a further 2.2%.

Among the main countries of destination, South Korea, with a CAGR of +65.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cobalt oxides and hydroxides export price stood at $X per ton in 2021, growing by 52% against the previous year. In general, the export price showed a strong expansion. The growth pace was the most rapid in 2015 when the average export price increased by 62% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+65.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports into Brazil

In 2021, the amount of cobalt oxides and hydroxides and commercial cobalt oxides imported into Brazil soared to X tons, with an increase of 15% on the previous year. Overall, imports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2018 when imports increased by 225% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, cobalt oxides and hydroxides imports surged to $X in 2021. In general, imports, however, saw a perceptible decrease. The pace of growth was the most pronounced in 2017 when imports increased by 143% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Democratic Republic of the Congo (X tons) constituted the largest supplier of cobalt oxides and hydroxides to Brazil, with a 67% share of total imports. Moreover, cobalt oxides and hydroxides imports from Democratic Republic of the Congo exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sixfold. Zambia (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Democratic Republic of the Congo totaled -14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+0.3% per year) and Zambia (+63.7% per year).

In value terms, Democratic Republic of the Congo ($X), Belgium ($X) and China ($X) were the largest cobalt oxides and hydroxides suppliers to Brazil, with a combined 87% share of total imports. Zambia, the Netherlands and South Africa lagged somewhat behind, together accounting for a further 8.9%.

Among the main suppliers, Zambia, with a CAGR of +144.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cobalt oxides and hydroxides import price amounted to $X per ton, rising by 46% against the previous year. Overall, the import price saw a resilient expansion. The growth pace was the most rapid in 2017 when the average import price increased by 88%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zambia (+49.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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