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

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

In 2021, the Finnish cobalt oxides and hydroxides market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption saw a strong increase. Cobalt oxides and hydroxides consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

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

In value terms, cobalt oxides and hydroxides production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production posted strong growth. Cobalt oxides and hydroxides production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports from Finland

In 2014, overseas shipments of cobalt oxides and hydroxides and commercial cobalt oxides decreased by -4% to X tons for the first time since 2011, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +15.8% from 2012 to 2014; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 40% against the previous year. As a result, the exports reached the peak of X tons, and then reduced modestly in the following year.

In value terms, cobalt oxides and hydroxides exports fell slightly to $X in 2014. The total export value increased at an average annual rate of +7.6% over the period from 2012 to 2014; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 21%. As a result, the exports reached the peak of $X, and then shrank slightly in the following year.

Exports by Country

South Korea (X tons) was the main destination for cobalt oxides and hydroxides exports from Finland, accounting for a 49% share of total exports. Moreover, cobalt oxides and hydroxides exports to South Korea exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a 6% share.

From 2012 to 2014, the average annual rate of growth in terms of volume to South Korea amounted to +19.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+41.8% per year) and the United States (-12.6% per year).

In value terms, South Korea ($X) remains the key foreign market for cobalt oxides and hydroxides and commercial cobalt oxides exports from Finland, comprising 48% of total exports. The second position in the ranking was taken by Germany ($X), with a 24% share of total exports. It was followed by the United States, with a 6.1% share.

From 2012 to 2014, the average annual growth rate of value to South Korea amounted to +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+33.7% per year) and the United States (-18.7% per year).

Export Prices by Country

The average cobalt oxides and hydroxides export price stood at $X per ton in 2014, leveling off at the previous year. Overall, the export price recorded a abrupt descent. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2014, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2014, amid the top suppliers, the highest price was recorded for prices to Germany ($X per ton) and Spain ($X per ton), while the average price for exports to France ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was recorded for supplies to Italy (-5.3%), while the prices for the other major destinations experienced a decline.

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports into Finland

In 2014, overseas purchases of cobalt oxides and hydroxides and commercial cobalt oxides decreased by -91.4% to X tons for the first time since 2011, thus ending a two-year rising trend. In general, imports showed a precipitous setback. The growth pace was the most rapid in 2013 with an increase of 92% against the previous year. As a result, imports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, cobalt oxides and hydroxides imports fell to $X in 2014. Over the period under review, imports faced a sharp descent. Imports peaked at $X in 2012; however, from 2013 to 2014, imports remained at a lower figure.

Imports by Country

From 2012 to 2016, the average annual growth rate of volume from No country was relatively modest.

From 2012 to 2016, the average annual rate of growth in terms of value from No country was relatively modest.

Import Prices by Country

In 2014, the average cobalt oxides and hydroxides import price amounted to $X per ton, surging by 986% against the previous year. Overall, the import price recorded a significant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2014, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was attained by the UK (+2,699.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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