Europe: Cobalt Market 2022

Cobalt Market Size in Europe

The Europe cobalt market reached $X in 2021, increasing by 11% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Cobalt Production in Europe

In value terms, cobalt production reached $X in 2021 estimated in export price. The total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -16.7% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 45%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Cobalt Exports

Exports in Europe

In 2021, approx. X tons of cobalt were exported in Europe; stabilizing at the year before. The total export volume increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when exports increased by 20% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, cobalt exports soared to $X in 2021. Total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -6.5% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 67%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Belgium (X tons), the Netherlands (X tons), Norway (X tons), Russia (X tons), the UK (X tons) and Germany (X tons) was the major exporter of cobalt in Europe, comprising 91% of total export. France (X tons) held a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the Netherlands (with a CAGR of +14.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest cobalt supplying countries in Europe were the Netherlands ($X), Norway ($X) and Belgium ($X), together comprising 58% of total exports.

Among the main exporting countries, the Netherlands, with a CAGR of +29.0%, 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 export price in Europe amounted to $X per ton, increasing by 27% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2017 when the export price increased by 45% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Germany ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.3%), while the other leaders experienced more modest paces of growth.

Cobalt Imports

Imports in Europe

In 2021, imports of cobalt in Europe soared to X tons, jumping by 17% on the previous year's figure. Over the period under review, imports continue to indicate mild growth. The pace of growth appeared the most rapid in 2018 when imports increased by 110% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cobalt imports surged to $X in 2021. Overall, imports recorded a buoyant expansion. The growth pace was the most rapid in 2018 when imports increased by 105% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the four major importers of cobalt, namely Belgium, Norway, the UK and the Netherlands, represented more than two-thirds of total import. It was distantly followed by Germany (X tons), France (X tons) and Spain (X tons), together committing a 20% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Belgium (with a CAGR of +49.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 49% of total imports.

Belgium, with a CAGR of +40.9%, recorded the highest growth rate of the value of imports, among 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 Europe stood at $X per ton in 2021, rising by 5.4% against the previous year. Import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cobalt import price decreased by -16.4% against 2017 indices. The most prominent rate of growth was recorded in 2017 an increase of 33% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform