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

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

For the third year in a row, the CIS cobalt oxides and hydroxides market recorded growth in sales value, which increased by 64% to $X in 2021. Overall, consumption continues to indicate prominent growth. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Production of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in CIS

In value terms, cobalt oxides and hydroxides production stood at $X in 2021 estimated in export price. Overall, production faced a dramatic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 11,375% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports in CIS

In 2021, shipments abroad of cobalt oxides and hydroxides and commercial cobalt oxides increased by 2,595% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, recorded a precipitous decline. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cobalt oxides and hydroxides exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a precipitous descent. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of cobalt oxides and hydroxides and commercial cobalt oxides, namely Russia, represented more than two-thirds of total export.

Russia was also the fastest-growing in terms of the cobalt oxides and hydroxides and commercial cobalt oxides exports, with a CAGR of -32.1% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest cobalt oxides and hydroxides supplier in the CIS.

From 2012 to 2021, the average annual growth rate of value in Russia stood at -28.6%.

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, falling by -78% against the previous year. Over the period under review, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when the export price increased by 402% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank sharply in the following year.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2021, the rate of growth in terms of prices for Russia amounted to +5.2% per year.

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports in CIS

In 2021, overseas purchases of cobalt oxides and hydroxides and commercial cobalt oxides increased by 41% to X tons, rising for the third year in a row after four years of decline. In general, imports saw a prominent increase. The growth pace was the most rapid in 2019 with an increase of 195% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, cobalt oxides and hydroxides imports skyrocketed to $X in 2021. Over the period under review, imports saw a prominent expansion. The pace of growth was the most pronounced in 2019 when imports increased by 133% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Russia prevails in imports structure, reaching X tons, which was approx. 88% of total imports in 2021. It was distantly followed by Kazakhstan (X tons) and Uzbekistan (X tons), together committing a 10% share of total imports.

Imports into Russia increased at an average annual rate of +6.4% from 2012 to 2021. At the same time, Kazakhstan (+76.8%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +76.8% from 2012-2021. By contrast, Uzbekistan (-6.6%) illustrated a downward trend over the same period. Uzbekistan (+5.1 p.p.) and Kazakhstan (+5.1 p.p.) significantly strengthened its position in terms of the total imports, while Russia saw its share reduced by -6.2% from 2012 to 2021, respectively.

In value terms, Russia ($X) constitutes the largest market for imported cobalt oxides and hydroxides and commercial cobalt oxides in the CIS, comprising 88% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 5.4% share of total imports.

In Russia, cobalt oxides and hydroxides imports expanded at an average annual rate of +8.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+75.3% per year) and Uzbekistan (-19.5% per year).

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per ton, growing by 43% against the previous year. Import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 79% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+2.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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