Report Update Nov 1, 2024

China - Cobalt - Market Analysis, Forecast, Size, Trends and Insights

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China: Cobalt Market 2022

Cobalt Market Size in China

The Chinese cobalt market soared to $X in 2021, picking up by 52% against the previous year. Over the period under review, consumption enjoyed a significant expansion. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in years to come.

Cobalt Production in China

In value terms, cobalt production amounted to $X in 2021 estimated in export price. Overall, production showed measured growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 51%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Cobalt Exports

Exports from China

In 2021, shipments abroad of cobalt increased by 50% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 158%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, cobalt exports surged to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 292%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), the Netherlands (X tons) and South Korea (X tons) were the main destinations of cobalt exports from China, with a combined 61% share of total exports. Japan, Germany, the United States, Canada, Israel, India and Belgium lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the biggest increases were in Israel (with a CAGR of +77.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cobalt exported from China were Taiwan (Chinese) ($X), the Netherlands ($X) and South Korea ($X), with a combined 62% share of total exports. Japan, Germany, the United States, Canada, Israel, India and Belgium lagged somewhat behind, together comprising a further 31%.

In terms of the main countries of destination, Israel, with a CAGR of +73.1%, 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

In 2021, the average cobalt export price amounted to $X per ton, rising by 37% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cobalt export price increased by +37.2% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 52% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to Belgium ($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 the United States (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cobalt Imports

Imports into China

In 2021, approx. X tons of cobalt were imported into China; with an increase of 3.3% on the previous year. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 101% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, cobalt imports surged to $X in 2021. In general, imports saw a significant increase. The pace of growth was the most pronounced in 2017 when imports increased by 129%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Congo (X tons) was the main supplier of cobalt to China, accounting for a approx. 96% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Congo amounted to +138.0%.

In value terms, Congo ($X) constituted the largest supplier of cobalt to China.

From 2012 to 2021, the average annual growth rate of value from Congo totaled +158.2%.

Import Prices by Country

In 2021, the average cobalt import price amounted to $X per ton, jumping by 87% against the previous year. Overall, the import price enjoyed a buoyant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Congo.

From 2012 to 2021, the rate of growth in terms of prices for Congo amounted to +8.5% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cobalt in the world?

China constituted the country with the largest volume of cobalt consumption, accounting for 88% of total volume.

What are the largest producers of cobalt in the world?

Democratic Republic of the Congo constituted the country with the largest volume of cobalt production, accounting for 73% of total volume. Moreover, cobalt production in Democratic Republic of the Congo exceeded the figures recorded by the second-largest producer, Russia, more than tenfold. The third position in this ranking was occupied by Canada, with a 2.8% share.

What are the leading suppliers of cobalt to China?

In value terms, Democratic Republic of the Congo constituted the largest supplier of cobalt to China.

What are the leading importers of cobalt from China?

In value terms, the Netherlands remains the key foreign market for cobalt exports from China, comprising 34% of total exports. The second position in the ranking was occupied by the United States, with a 14% share of total exports. It was followed by Japan, with a 12% share.

What is the average export price for cobalt in China?

In 2021, the average cobalt export price amounted to $43,443 per ton, growing by 19% against the previous year.

What is the average import price for cobalt in China?

The average cobalt import price stood at $9,349 per ton in 2021, with an increase of 19% against the previous year.

This report provides an in-depth analysis of the cobalt market in China. 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:

Country coverage:

China

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in China
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
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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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023