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

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

After two years of growth, the Moroccan cobalt oxides and hydroxides market decreased by -1.4% to $X in 2021. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Cobalt oxides and hydroxides consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

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

In value terms, cobalt oxides and hydroxides production contracted slightly to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 22% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2021.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports from Morocco

In 2021, overseas shipments of cobalt oxides and hydroxides and commercial cobalt oxides increased by 22% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 350% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, cobalt oxides and hydroxides exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2017 with an increase of 355% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X kg) was the main destination for cobalt oxides and hydroxides exports from Morocco, with a 82% share of total exports. Moreover, cobalt oxides and hydroxides exports to Italy exceeded the volume sent to the second major destination, Spain (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Italy stood at +3.7%.

In value terms, Italy ($X) remains the key foreign market for cobalt oxides and hydroxides and commercial cobalt oxides exports from Morocco, comprising 94% of total exports. The second position in the ranking was taken by Spain ($X), with a 2.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy amounted to +5.2%.

Export Prices by Country

The average cobalt oxides and hydroxides export price stood at $X per ton in 2021, increasing by 9.7% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by 61% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Spain totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+1.5%).

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports into Morocco

In 2021, the amount of cobalt oxides and hydroxides and commercial cobalt oxides imported into Morocco soared to X kg, rising by 27% against the previous year. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 613,909% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, cobalt oxides and hydroxides imports surged to $X in 2021. Overall, imports, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2014 with an increase of 205,746% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Spain (X kg), Poland (X kg) and Belgium (X kg) were the main suppliers of cobalt oxides and hydroxides imports to Morocco, together accounting for 18% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +22.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest cobalt oxides and hydroxides suppliers to Morocco were Spain ($X), Poland ($X) and Belgium ($X), with a combined 22% share of total imports.

Spain, with a CAGR of +28.2%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average cobalt oxides and hydroxides import price stood at $X per ton in 2021, which is down by -5.8% against the previous year. In general, the import price recorded a noticeable setback. The pace of growth was the most pronounced in 2019 an increase of 45% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo (+11.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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