Report Update Jan 1, 2025

Saudi Arabia - Cobalt - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Cobalt Market 2022

Cobalt Market Size in Saudi Arabia

In 2021, the Saudi cobalt market was finally on the rise to reach $X after two years of decline. In general, consumption showed a modest increase. Cobalt consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cobalt Production in Saudi Arabia

In value terms, cobalt production reached $X in 2021 estimated in export price. In general, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -25.6% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 46%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Cobalt Exports

Exports from Saudi Arabia

In 2021, overseas shipments of cobalt decreased by -20.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, total exports indicated a prominent expansion from 2019 to 2021: its volume increased at an average annual rate of +16.6% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.0% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 72% against the previous year. As a result, the exports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, cobalt exports contracted to $X in 2021. The total export value increased at an average annual rate of +3.0% over the period from 2019 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 12% against the previous year. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

The United States (X tons) was the main destination for cobalt exports from Saudi Arabia, with a approx. 100% share of total exports.

From 2019 to 2021, the average annual growth rate of volume to the United States was relatively modest.

In value terms, the United States ($X) emerged as the key foreign market for cobalt exports from Saudi Arabia.

From 2019 to 2021, the average annual rate of growth in terms of value to the United States was relatively modest.

Export Prices by Country

In 2021, the average cobalt export price amounted to $X per ton, with an increase of 20% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt downturn. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2019 to 2021, the rate of growth in terms of prices for the United States amounted to 0.0% per year.

Cobalt Imports

Imports into Saudi Arabia

In 2021, cobalt imports into Saudi Arabia was estimated at X tons, remaining relatively unchanged against the previous year. In general, imports saw a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cobalt imports amounted to $X in 2021. Over the period under review, imports showed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of cobalt to Saudi Arabia, with a 66% share of total imports. Moreover, cobalt imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (0.0% per year) and Australia (0.0% per year).

In value terms, the United States ($X) constituted the largest supplier of cobalt to Saudi Arabia, comprising 64% of total imports. The second position in the ranking was taken by Canada ($X), with a 30% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (0.0% per year) and Australia (0.0% per year).

Import Prices by Country

In 2021, the average cobalt import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price recorded a pronounced slump. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Canada ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-4.3%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cobalt in the world?

China remains the largest cobalt consuming country worldwide, accounting for 88% of total volume.

What are the largest producers of cobalt in the world?

Democratic Republic of the Congo remains the largest cobalt producing country worldwide, accounting for 73% of total volume. Moreover, cobalt production in Democratic Republic of the Congo exceeded the figures recorded by the second-largest producer, Russia, more than tenfold. The third position in this ranking was occupied by Canada, with a 2.8% share.

What are the leading suppliers of cobalt to Saudi Arabia?

In value terms, the United States constituted the largest supplier of cobalt to Saudi Arabia.

What is the average export price for cobalt in Saudi Arabia?

In 2021, the average cobalt export price amounted to $37,343 per ton, jumping by 20% against the previous year.

This report provides an in-depth analysis of the cobalt market in Saudi Arabia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Saudi Arabia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Saudi Arabia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024