Middle East: Market for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides 2025

Market Size for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in the Middle East

In 2021, the Middle Eastern cobalt oxides and hydroxides market decreased by -2% to $X, falling for the third year in a row after two years of growth. In general, consumption, however, posted a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in the Middle East

In value terms, cobalt oxides and hydroxides production fell rapidly to $X in 2021 estimated in export price. In general, production, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 121,012%. As a result, production attained the peak level of $X, and then fell dramatically in the following year.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports in the Middle East

In 2021, shipments abroad of cobalt oxides and hydroxides and commercial cobalt oxides increased by 273% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, faced a dramatic curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 1,424% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, cobalt oxides and hydroxides exports surged to $X in 2021. Over the period under review, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of 1,399% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey was the key exporter of cobalt oxides and hydroxides and commercial cobalt oxides in the Middle East, with the volume of exports recording X tons, which was approx. 87% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), achieving a 13% share of total exports.

Turkey was also the fastest-growing in terms of the cobalt oxides and hydroxides and commercial cobalt oxides exports, with a CAGR of +41.7% from 2012 to 2021. The United Arab Emirates (-10.0%) illustrated a downward trend over the same period. Turkey (+87 p.p.) and the United Arab Emirates (+11 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) emerged as the largest cobalt oxides and hydroxides supplier in the Middle East, comprising 78% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 22% share of total exports.

In Turkey, cobalt oxides and hydroxides exports increased at an average annual rate of +62.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, with an increase of 9.5% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. The growth pace was the most rapid in 2019 when the export price increased by 57%. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+14.3%).

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports in the Middle East

In 2021, supplies from abroad of cobalt oxides and hydroxides and commercial cobalt oxides decreased by -7.8% to X tons, falling for the third consecutive year after two years of growth. In general, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 547%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, cobalt oxides and hydroxides imports totaled $X in 2021. Over the period under review, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 288%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of cobalt oxides and hydroxides imports in 2021 were the United Arab Emirates (X tons), together amounting to 99% of total import.

The United Arab Emirates was also the fastest-growing in terms of the cobalt oxides and hydroxides and commercial cobalt oxides imports, with a CAGR of +14.2% from 2012 to 2021. From 2012 to 2021, the share of the United Arab Emirates increased by +16 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported cobalt oxides and hydroxides and commercial cobalt oxides in the Middle East.

In the United Arab Emirates, cobalt oxides and hydroxides imports expanded at an average annual rate of +10.8% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, picking up by 19% against the previous year. Overall, the import price, however, showed a deep slump. The growth pace was the most rapid in 2014 an increase of 19% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to -3.0% per year.

Source: IndexBox Platform

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