Russian Federation: Market for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides 2024

Market Size for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in the Russian Federation

The Russian cobalt oxides and hydroxides market surged to $X in 2021, picking up by 73% 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). Overall, consumption saw a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports from the Russian Federation

In 2021, overseas shipments of cobalt oxides and hydroxides and commercial cobalt oxides increased by 4,170% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a precipitous shrinkage. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cobalt oxides and hydroxides exports surged to $X in 2021. Overall, exports, however, recorded a precipitous setback. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X tons) was the main destination for cobalt oxides and hydroxides exports from Russia, with a 95% share of total exports. It was followed by Belarus (X kg), with a 2.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium amounted to -26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (-3.1% per year) and Italy (0.0% per year).

In value terms, Belgium ($X) emerged as the key foreign market for cobalt oxides and hydroxides and commercial cobalt oxides exports from Russia, comprising 66% of total exports. The second position in the ranking was held by Belarus ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium totaled -21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+14.1% per year) and Italy (0.0% per year).

Export Prices by Country

In 2021, the average cobalt oxides and hydroxides export price amounted to $X per ton, declining by -84.3% against the previous year. In general, the export price, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2020 when the average export price increased by 608% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Belgium ($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 Belarus (+17.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports into the Russian Federation

In 2021, overseas purchases of cobalt oxides and hydroxides and commercial cobalt oxides increased by 45% to X tons, rising for the third year in a row after four years of decline. Over the period under review, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 146%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, cobalt oxides and hydroxides imports soared to $X in 2021. Overall, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Belgium (X tons) and Finland (X tons) were the main suppliers of cobalt oxides and hydroxides imports to Russia, together accounting for 99% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +8.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Belgium ($X) and Finland ($X) were the largest cobalt oxides and hydroxides suppliers to Russia, together comprising 99% of total imports.

In terms of the main suppliers, China, with a CAGR of +9.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cobalt oxides and hydroxides import price stood at $X per ton in 2021, with an increase of 52% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 64% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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