South-Eastern Asia: Cobalt Ore Market 2024

Cobalt Ore Market Size in South-Eastern Asia

In 2022, the Southeast Asian cobalt ore market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, continues to indicate a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Cobalt Ore Production in South-Eastern Asia

In value terms, cobalt ore production stood at $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Cobalt Ore Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of cobalt ores were exported in South-Eastern Asia; dropping by X% compared with 2021. In general, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cobalt ore exports fell remarkably to $X in 2022. Over the period under review, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The Philippines prevails in exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Singapore (X tons) and Vietnam (X tons), together generating a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cobalt ore exports from the Philippines stood at X%. At the same time, Singapore (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Vietnam (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines and Singapore increased by X and X percentage points, respectively.

In value terms, Vietnam ($X), the Philippines ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Singapore, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, rising by X% against the previous year. Overall, the export price showed a buoyant increase. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%).

Cobalt Ore Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of cobalt ores were imported in South-Eastern Asia; increasing by X% compared with the previous year. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, cobalt ore imports surged to $X in 2022. Over the period under review, imports saw a remarkable increase. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Malaysia dominates imports structure, reaching X tons, which was approx. X% of total imports in 2022. Singapore (X tons) followed a long way behind the leaders.

Malaysia was also the fastest-growing in terms of the cobalt ores imports, with a CAGR of X% from 2012 to 2022. At the same time, Singapore (X%) displayed positive paces of growth. Malaysia (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by X% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia totaled X%.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price continues to indicate a dramatic slump. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%).

Source: IndexBox Platform