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

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

The Italian cobalt oxides and hydroxides market soared to $X in 2021, increasing by 253% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed buoyant growth. Cobalt oxides and hydroxides consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports from Italy

In 2021, exports of cobalt oxides and hydroxides and commercial cobalt oxides from Italy shrank remarkably to X tons, falling by -46.1% compared with the previous year's figure. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 114%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, cobalt oxides and hydroxides exports fell rapidly to $X in 2021. Overall, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 117% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons), Iran (X tons) and Spain (X tons) were the main destinations of cobalt oxides and hydroxides exports from Italy, together accounting for 80% of total exports.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +28.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cobalt oxides and hydroxides exported from Italy were Turkey ($X), Iran ($X) and Spain ($X), with a combined 77% share of total exports.

Iran, with a CAGR of +49.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cobalt oxides and hydroxides export price stood at $X per ton in 2021, increasing by 42% against the previous year. Overall, the export price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 an increase of 87% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+25.4%), 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 Italy

In 2021, purchases abroad of cobalt oxides and hydroxides and commercial cobalt oxides increased by 48% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports saw a slight increase. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, cobalt oxides and hydroxides imports skyrocketed to $X in 2021. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 102% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belgium (X tons) constituted the largest cobalt oxides and hydroxides supplier to Italy, accounting for a 60% share of total imports. Moreover, cobalt oxides and hydroxides imports from Belgium exceeded the figures recorded by the second-largest supplier, Finland (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with an 18% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (-9.2% per year) and the Netherlands (+48.9% per year).

In value terms, Belgium ($X) constituted the largest supplier of cobalt oxides and hydroxides and commercial cobalt oxides to Italy, comprising 61% of total imports. The second position in the ranking was held by Finland ($X), with a 22% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Belgium totaled +19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (-1.5% per year) and the Netherlands (+59.8% per year).

Import Prices by Country

In 2021, the average cobalt oxides and hydroxides import price amounted to $X per ton, growing by 35% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 an increase of 47% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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