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

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

In 2021, the Canadian cobalt oxides and hydroxides market increased by 2.2% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded a noticeable contraction. Over the period under review, the market reached the maximum level 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 Canada

In 2020, overseas shipments of cobalt oxides and hydroxides and commercial cobalt oxides decreased by -94.3% to X kg, falling for the second year in a row after three years of growth. In general, exports saw a significant decrease. The growth pace was the most rapid in 2018 with an increase of 611% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2020, the exports failed to regain momentum.

In value terms, cobalt oxides and hydroxides exports contracted dramatically to $X in 2020. Overall, exports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 486%. The exports peaked at $X in 2012; however, from 2013 to 2020, the exports failed to regain momentum.

Exports by Country

Germany (X kg) was the main destination for cobalt oxides and hydroxides exports from Canada, accounting for a 72% share of total exports. Moreover, cobalt oxides and hydroxides exports to Germany exceeded the volume sent to the second major destination, Ghana (X kg), sevenfold. India (X kg) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2020, the average annual growth rate of volume to Germany totaled -42.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (0.0% per year) and India (-71.6% per year).

In value terms, Germany ($X) remains the key foreign market for cobalt oxides and hydroxides and commercial cobalt oxides exports from Canada, comprising 70% of total exports. The second position in the ranking was taken by Ghana ($X), with a 10% share of total exports. It was followed by India, with a 9.6% share.

From 2012 to 2020, the average annual rate of growth in terms of value to Germany amounted to -39.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (0.0% per year) and India (-68.6% per year).

Export Prices by Country

The average cobalt oxides and hydroxides export price stood at $X per ton in 2020, waning by -44% against the previous year. Over the period under review, the export price, however, continues to indicate a buoyant expansion. The growth pace was the most rapid in 2019 an increase of 132% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2020, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+13.7%), 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 Canada

In 2021, approx. X tons of cobalt oxides and hydroxides and commercial cobalt oxides were imported into Canada; shrinking by -5.2% against the previous year's figure. Overall, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 1,830% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, cobalt oxides and hydroxides imports soared to $X in 2021. In general, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 2,444% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest cobalt oxides and hydroxides supplier to Canada, accounting for a 46% share of total imports. Moreover, cobalt oxides and hydroxides imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Belgium (X tons), with a 20% share.

From 2012 to 2021, the average annual growth rate of volume from Japan amounted to +61.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+112.0% per year) and Belgium (+149.0% per year).

In value terms, Belgium ($X) constituted the largest supplier of cobalt oxides and hydroxides and commercial cobalt oxides to Canada, comprising 76% of total imports. The second position in the ranking was held by the United States ($X), with a 6.6% share of total imports. It was followed by Japan, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value from Belgium totaled +159.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+83.1% per year) and Japan (+54.9% per year).

Import Prices by Country

The average cobalt oxides and hydroxides import price stood at $X per ton in 2021, with an increase of 24% against the previous year. In general, the import price saw a prominent expansion. The growth pace was the most rapid in 2014 an increase of 43%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+39.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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