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

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

In 2021, the Romanian cobalt oxides and hydroxides market decreased by -57.3% to $X, falling for the second year in a row after two years of growth. Overall, consumption faced a dramatic descent. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports from Romania

For the fifth consecutive year, Romania recorded growth in overseas shipments of cobalt oxides and hydroxides and commercial cobalt oxides, which increased by 173% to X kg in 2020. Over the period under review, exports, however, showed a sharp decline. The exports peaked at X kg in 2014; however, from 2015 to 2020, the exports remained at a lower figure.

In value terms, cobalt oxides and hydroxides exports soared to $X in 2020. Overall, exports, however, recorded a perceptible slump. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2020, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X kg) was the main destination for cobalt oxides and hydroxides exports from Romania, accounting for a 90% share of total exports. Moreover, cobalt oxides and hydroxides exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Moldova (X kg), ninefold.

From 2014 to 2020, the average annual growth rate of volume to Cote d'Ivoire was relatively modest.

In value terms, Moldova ($X) emerged as the key foreign market for cobalt oxides and hydroxides and commercial cobalt oxides exports from Romania, comprising 83% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 17% share of total exports.

From 2014 to 2020, the average annual growth rate of value to Moldova was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (0.0% per year) and the Netherlands (-24.4% per year).

Export Prices by Country

The average cobalt oxides and hydroxides export price stood at $X per ton in 2020, surging by 4,073% against the previous year. Overall, 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.

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

From 2014 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+3,083.3%).

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports into Romania

In 2021, overseas purchases of cobalt oxides and hydroxides and commercial cobalt oxides decreased by -64% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a sharp decline. The pace of growth was the most pronounced in 2016 with an increase of 243%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, cobalt oxides and hydroxides imports declined rapidly to $X in 2021. Overall, imports faced a deep slump. The pace of growth appeared the most rapid in 2018 when imports increased by 170%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Poland (X kg) constituted the largest supplier of cobalt oxides and hydroxides to Romania, with a 64% share of total imports. Moreover, cobalt oxides and hydroxides imports from Poland exceeded the figures recorded by the second-largest supplier, Bulgaria (X kg), fivefold. The third position in this ranking was taken by Belgium (X kg), with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (-12.6% per year) and Belgium (-19.5% per year).

In value terms, Poland ($X) constituted the largest supplier of cobalt oxides and hydroxides and commercial cobalt oxides to Romania, comprising 68% of total imports. The second position in the ranking was held by Bulgaria ($X), with a 15% share of total imports. It was followed by Belgium, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value from Poland amounted to +27.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+206.4% per year) and Belgium (-11.9% per year).

Import Prices by Country

The average cobalt oxides and hydroxides import price stood at $X per ton in 2021, jumping by 38% against the previous year. Over the period under review, the import price saw a significant expansion. The most prominent rate of growth was recorded in 2017 an increase of 217% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

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 Austria ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+42.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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