South-Eastern Asia: Cobalt Market 2022

Cobalt Market Size in South-Eastern Asia

In 2021, the Southeast Asian cobalt market increased by 12% to $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cobalt Production in South-Eastern Asia

In value terms, cobalt production reduced to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +11.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 53%. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Cobalt Exports

Exports in South-Eastern Asia

In 2021, cobalt exports in South-Eastern Asia surged to X tons, picking up by 108% against 2020. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 269%. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, cobalt exports shrank remarkably to $X in 2021. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2017 with an increase of 290% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then contracted sharply in the following year.

Exports by Country

In 2021, Malaysia (X tons) was the major exporter of cobalt, mixing up 82% of total exports. It was distantly followed by Singapore (X tons), generating a 17% share of total exports.

Malaysia was also the fastest-growing in terms of the cobalt exports, with a CAGR of +84.6% from 2012 to 2021. At the same time, Singapore (+16.3%) displayed positive paces of growth. While the share of Malaysia (+76 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-65.4 p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) remains the largest cobalt supplier in South-Eastern Asia, comprising 72% of total exports. The second position in the ranking was held by Singapore ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Malaysia amounted to +54.9%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, dropping by -65.6% against the previous year. Overall, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the export price increased by 72% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while Malaysia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-7.0%).

Cobalt Imports

Imports in South-Eastern Asia

Cobalt imports surged to X tons in 2021, picking up by 410% on 2020. Over the period under review, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cobalt imports surged to $X in 2021. In general, imports showed a strong increase. The pace of growth appeared the most rapid in 2017 when imports increased by 141%. Over the period under review, imports hit record highs at $X in 2018; afterwards, it flattened through to 2021.

Imports by Country

Malaysia prevails in imports structure, amounting to X tons, which was near 92% of total imports in 2021. Thailand (X tons) and Singapore (X tons) took a relatively small share of total imports.

Malaysia was also the fastest-growing in terms of the cobalt imports, with a CAGR of +108.9% from 2012 to 2021. At the same time, Singapore (+2.2%) displayed positive paces of growth. By contrast, Thailand (-2.2%) illustrated a downward trend over the same period. While the share of Malaysia (+91 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-25 p.p.) and Thailand (-56.5 p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) constitutes the largest market for imported cobalt in South-Eastern Asia, comprising 63% of total imports. The second position in the ranking was held by Thailand ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia stood at +78.2%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+3.4% per year) and Singapore (+6.8% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, falling by -53% against the previous year. In general, the import price faced a deep setback. The most prominent rate of growth was recorded in 2020 an increase of 78% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+5.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :