Japan: Cobalt Market 2022

Cobalt Market Size in Japan

The Japanese cobalt market skyrocketed to $X in 2021, rising by 51% 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). In general, consumption, however, showed a pronounced descent. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Cobalt Exports

Exports from Japan

In 2021, approx. X tons of cobalt were exported from Japan; shrinking by -16.9% compared with the year before. In general, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 36%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, cobalt exports expanded remarkably to $X in 2021. Overall, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 73%. 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

China (X tons), the United States (X tons) and the Netherlands (X tons) were the main destinations of cobalt exports from Japan, together comprising 78% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +222.0%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Belgium ($X) were the largest markets for cobalt exported from Japan worldwide, with a combined 80% share of total exports. These countries were followed by the Netherlands, South Korea, India and Australia, which together accounted for a further 17%.

The Netherlands, with a CAGR of +197.1%, 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

In 2021, the average cobalt export price amounted to $X per ton, with an increase of 27% against the previous year. Overall, the export price showed noticeable growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by 48%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to the Netherlands ($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 Belgium (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cobalt Imports

Imports into Japan

In 2021, approx. X tons of cobalt were imported into Japan; surging by 5.2% compared with 2020. Over the period under review, imports, however, continue to indicate a mild decrease. The pace of growth was the most pronounced in 2019 when imports increased by 102% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, cobalt imports skyrocketed to $X in 2021. In general, imports enjoyed a measured expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 144%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Finland (X tons) constituted the largest supplier of cobalt to Japan, accounting for a 59% share of total imports. Moreover, cobalt imports from Finland exceeded the figures recorded by the second-largest supplier, Canada (X tons), sixfold. The third position in this ranking was taken by Morocco (X tons), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from Finland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-7.6% per year) and Morocco (+10.4% per year).

In value terms, Finland ($X) constituted the largest supplier of cobalt to Japan, comprising 57% of total imports. The second position in the ranking was taken by Canada ($X), with an 11% share of total imports. It was followed by Morocco, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value from Finland stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-2.4% per year) and Morocco (+16.0% per year).

Import Prices by Country

In 2021, the average cobalt import price amounted to $X per ton, surging by 37% against the previous year. Over the period under review, the import price saw a noticeable expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 73%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were the United States ($X per ton) and Belgium ($X per ton), while the price for Morocco ($X per ton) and Zambia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Madagascar (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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