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

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

After two years of decline, the Irish cobalt oxides and hydroxides market increased by 4.1% to $X in 2021. In general, consumption, however, recorded mild growth. Over the period under review, the market attained the peak level 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 Ireland

In value terms, cobalt oxides and hydroxides production expanded significantly to $X in 2021 estimated in export price. In general, the total production indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.1% 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 -23.3% against 2018 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 38% against the previous year. Cobalt oxides and hydroxides production peaked 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 from Ireland

In 2021, after two years of decline, there was significant decline in shipments abroad of cobalt oxides and hydroxides and commercial cobalt oxides, when their volume decreased by -76.9% to X kg. In general, exports, however, recorded buoyant growth. Over the period under review, the exports reached the peak figure at X kg in 2020, and then shrank dramatically in the following year.

In value terms, cobalt oxides and hydroxides exports reduced markedly to $X in 2021. Overall, exports, however, recorded a significant expansion. The exports peaked at $X in 2020, and then reduced rapidly in the following year.

Exports by Country

Denmark (X kg), the UK (X kg) and Kuwait (X kg) were the main destinations of cobalt oxides and hydroxides exports from Ireland.

From 2018 to 2021, the biggest increases were recorded for Denmark (with a CAGR of 0.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Denmark ($X) emerged as the key foreign market for cobalt oxides and hydroxides and commercial cobalt oxides exports from Ireland, comprising 46% of total exports. The second position in the ranking was taken by the UK ($X), with an 8.2% share of total exports.

From 2018 to 2021, the average annual rate of growth in terms of value to Denmark amounted to +66,100.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+55.7% per year) and Kuwait (+1,140.0% per year).

Export Prices by Country

In 2021, the average cobalt oxides and hydroxides export price amounted to $X per ton, rising by 258% against the previous year. Over the period under review, the export price saw a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Kuwait ($X per ton) was amongst the lowest.

From 2018 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+187,551.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports into Ireland

In 2021, imports of cobalt oxides and hydroxides and commercial cobalt oxides into Ireland shrank markedly to X kg, falling by -31% on the previous year. In general, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of 1,552%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, cobalt oxides and hydroxides imports declined dramatically to $X in 2021. Over the period under review, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 1,004% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X kg) was the main cobalt oxides and hydroxides supplier to Ireland, with a 96% share of total imports. It was followed by France (X kg), with a 1.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK amounted to -7.6%.

In value terms, the UK ($X) constituted the largest supplier of cobalt oxides and hydroxides and commercial cobalt oxides to Ireland, comprising 97% of total imports. The second position in the ranking was held by France ($X), with a 0.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK amounted to -13.5%.

Import Prices by Country

In 2021, the average cobalt oxides and hydroxides import price amounted to $X per ton, declining by -2.2% against the previous year. Over the period under review, the import price showed a deep reduction. The most prominent rate of growth was recorded in 2014 an increase of 335% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for France amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+6.3%).

Source: IndexBox Platform

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