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

Market Size for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in the EU

After two years of decline, the EU cobalt oxides and hydroxides market increased by 71% to $X in 2021. Overall, consumption showed a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in the EU

In value terms, cobalt oxides and hydroxides production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 98%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports in the EU

Cobalt oxides and hydroxides exports skyrocketed to X tons in 2021, picking up by 17% compared with 2020 figures. Overall, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 1,241% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cobalt oxides and hydroxides exports skyrocketed to $X in 2021. In general, exports posted prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 2,182%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium dominates exports structure, resulting at X tons, which was approx. 85% of total exports in 2021. It was distantly followed by the Netherlands (X tons), constituting a 9.8% share of total exports. Italy (X tons) and Spain (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to cobalt oxides and hydroxides exports from Belgium stood at -14.5%. At the same time, the Netherlands (+28.9%) and Spain (+12.6%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +28.9% from 2012-2021. Italy experienced a relatively flat trend pattern. From 2012 to 2021, the share of Belgium and the Netherlands increased by +85 and +8.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) remains the largest cobalt oxides and hydroxides supplier in the European Union, comprising 85% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 9.4% share of total exports. It was followed by Italy, with a 2.7% share.

In Belgium, cobalt oxides and hydroxides exports plunged by an average annual rate of -19.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+36.8% per year) and Italy (+9.0% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, jumping by 52% against the previous year. Over the period under review, the export price posted a pronounced increase. The growth pace was the most rapid in 2018 when the export price increased by 70% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Spain ($X per ton) and Belgium ($X per ton), while the Netherlands ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+11.1%), while the other leaders experienced more modest paces of growth.

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports in the EU

In 2021, imports of cobalt oxides and hydroxides and commercial cobalt oxides in the European Union surged to X tons, increasing by 60% on the year before. Over the period under review, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 95% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, cobalt oxides and hydroxides imports surged to $X in 2021. In general, imports continue to indicate a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Belgium (X tons) and Spain (X tons) represented the key importers of cobalt oxides and hydroxides and commercial cobalt oxides in the European Union, together reaching approx. 65% of total imports. Germany (X tons) held the next position in the ranking, followed by Italy (X tons) and France (X tons). All these countries together held near 28% share of total imports. The Netherlands (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +55.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cobalt oxides and hydroxides importing markets in the European Union were Belgium ($X), Spain ($X) and Germany ($X), together comprising 78% of total imports. Italy, France and the Netherlands lagged somewhat behind, together comprising a further 19%.

The Netherlands, with a CAGR of +55.6%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, picking up by 31% against the previous year. Import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cobalt oxides and hydroxides import price increased by +8.6% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by 66%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Belgium ($X per ton) and Italy ($X per ton), while Germany ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+46.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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