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

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

In 2021, after two years of decline, there was significant growth in the Europe cobalt oxides and hydroxides market, when its value increased by 64% to $X. Over the period under review, consumption saw strong 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 Europe

In value terms, cobalt oxides and hydroxides production surged to $X in 2021 estimated in export price. Overall, production enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 86%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports in Europe

In 2021, exports of cobalt oxides and hydroxides and commercial cobalt oxides in Europe surged to X tons, increasing by 16% against the previous year's figure. Over the period under review, exports showed a pronounced expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 404%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, cobalt oxides and hydroxides exports soared to $X in 2021. In general, exports saw buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 579%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium represented the largest exporter of cobalt oxides and hydroxides and commercial cobalt oxides in Europe, with the volume of exports finishing at X tons, which was near 73% of total exports in 2021. It was distantly followed by the UK (X tons) and the Netherlands (X tons), together creating a 22% share of total exports. The following exporters - Italy (X tons) and Spain (X tons) - each reached a 4% share of total exports.

Exports from Belgium decreased at an average annual rate of -14.5% from 2012 to 2021. 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 Europe, with a CAGR of +28.9% from 2012-2021. Italy experienced a relatively flat trend pattern. By contrast, the UK (-2.4%) illustrated a downward trend over the same period. Belgium (+73 p.p.) and the Netherlands (+7.3 p.p.) significantly strengthened its position in terms of the total exports, while the UK saw its share reduced by -8.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) remains the largest cobalt oxides and hydroxides supplier in Europe, comprising 70% of total exports. The second position in the ranking was taken by the UK ($X), with a 17% share of total exports. It was followed by the Netherlands, with a 7.8% share.

In Belgium, cobalt oxides and hydroxides exports decreased 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 UK (+5.9% per year) and the Netherlands (+36.8% per year).

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, increasing by 53% against the previous year. Over the period under review, the export price enjoyed a pronounced increase. The growth pace was the most rapid in 2017 an increase of 61%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the UK ($X per ton) and Spain ($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 Europe

In 2021, approx. X tons of cobalt oxides and hydroxides and commercial cobalt oxides were imported in Europe; with an increase of 61% on 2020 figures. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 67% 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 somewhat lower figure.

In value terms, cobalt oxides and hydroxides imports surged to $X in 2021. Overall, imports saw a buoyant expansion. 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) were the largest importers of cobalt oxides and hydroxides and commercial cobalt oxides in Europe, together accounting for near 61% of total imports. Germany (X tons) took the next position in the ranking, followed by Italy (X tons) and France (X tons). All these countries together took approx. 26% share of total imports. The following importers - the Netherlands (X tons) and the UK (X tons) - together made up 7.3% 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 the Netherlands (with a CAGR of +55.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Spain ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2021, together comprising 75% of total imports. These countries were followed by Italy, France, the Netherlands and the UK, which together accounted for a further 20%.

Among the main importing countries, the Netherlands, with a CAGR of +55.6%, recorded the highest rates of growth with regard to the value of imports, 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, picking up by 30% against the previous year. Import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the import price increased by 55% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat 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 the UK ($X per ton) and Germany ($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