Dominican Republic: Market for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides 2024

Market Size for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in the Dominican Republic

In 2021, the Dominican cobalt oxides and hydroxides market increased by 3.9% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, showed slight growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in the Dominican Republic

In value terms, cobalt oxides and hydroxides production stood at $X in 2021 estimated in export price. Overall, the total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -22.7% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Over the period under review, production hit record highs 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 from the Dominican Republic

In 2021, overseas shipments of cobalt oxides and hydroxides and commercial cobalt oxides decreased by -11.1% to X kg for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports showed a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 1,731% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, cobalt oxides and hydroxides exports reached $X in 2021. Overall, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 1,594%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Jamaica (X kg) was the main destination for cobalt oxides and hydroxides exports from the Dominican Republic, with a 81% share of total exports. Moreover, cobalt oxides and hydroxides exports to Jamaica exceeded the volume sent to the second major destination, Barbados (X kg), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Jamaica amounted to -5.6%.

In value terms, Jamaica ($X) and Barbados ($X) constituted the largest markets for cobalt oxides and hydroxides exported from the Dominican Republic worldwide.

Among the main countries of destination, Barbados, with a CAGR of -6.1%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the average cobalt oxides and hydroxides export price amounted to $X per ton, increasing by 18% against the previous year. Overall, export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.4% 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 oxides and hydroxides export price decreased by -32.6% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of 50%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Barbados ($X per ton), while the average price for exports to Jamaica totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Barbados (+23.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports into the Dominican Republic

In 2021, the amount of cobalt oxides and hydroxides and commercial cobalt oxides imported into the Dominican Republic soared to X kg, growing by 120% compared with the previous year's figure. Overall, imports saw a perceptible expansion. The most prominent rate of growth was recorded in 2015 with an increase of 225% against the previous year. Imports peaked at X kg in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, cobalt oxides and hydroxides imports soared to $X in 2021. Over the period under review, imports recorded buoyant growth. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X kg) was the main supplier of cobalt oxides and hydroxides to the Dominican Republic, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +11.0%.

In value terms, the United States ($X) constituted the largest supplier of cobalt oxides and hydroxides and commercial cobalt oxides to the Dominican Republic.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +17.2%.

Import Prices by Country

The average cobalt oxides and hydroxides import price stood at $X per ton in 2021, picking up by 10% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.6% 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 oxides and hydroxides import price decreased by -5.4% against 2018 indices. The growth pace was the most rapid in 2013 when the average import price increased by 67%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +5.6% per year.

Source: IndexBox Platform

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