Southern Asia: Cobalt Market 2022

Cobalt Market Size in Southern Asia

The South Asian cobalt market skyrocketed to $X in 2021, jumping by 71% against the previous year. In general, consumption enjoyed resilient growth. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Cobalt Production in Southern Asia

In value terms, cobalt production shrank sharply to $X in 2021 estimated in export price. Over the period under review, production, however, saw significant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 61% against the previous year. As a result, production attained the peak level of $X, and then declined significantly in the following year.

Cobalt Exports

Exports in Southern Asia

In 2021, overseas shipments of cobalt increased by 49% to X tons, rising for the fifth consecutive year after two years of decline. In general, exports enjoyed a temperate expansion. The pace of growth appeared the most rapid in 2017 with an increase of 137%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, cobalt exports skyrocketed to $X in 2021. Overall, exports showed resilient growth. The most prominent rate of growth was recorded in 2018 when exports increased by 356%. The level of export peaked in 2021 and is likely to see steady growth in years to come.

Exports by Country

India prevails in exports structure, resulting at X tons, which was approx. 98% of total exports in 2021. Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to cobalt exports from India stood at +3.9%. At the same time, Pakistan (+5.5%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +5.5% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest cobalt supplier in Southern Asia, comprising 99% of total exports. The second position in the ranking was held by Pakistan ($X), with a 1.1% share of total exports.

In India, cobalt exports expanded at an average annual rate of +8.8% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, shrinking by -14.4% against the previous year. Over the period under review, the export price, however, recorded a temperate expansion. The pace of growth was the most pronounced in 2015 when the export price increased by 213% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was India ($X per ton), while Pakistan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.7%).

Cobalt Imports

Imports in Southern Asia

Cobalt imports skyrocketed to X tons in 2021, growing by 46% on 2020. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.6% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 106%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cobalt imports surged to $X in 2021. In general, imports posted prominent growth. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

India represented the main importer of cobalt in Southern Asia, with the volume of imports reaching X tons, which was near 90% of total imports in 2021. It was distantly followed by Pakistan (X tons), committing a 10% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to cobalt imports into India stood at +5.8%. At the same time, Pakistan (+15.5%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +15.5% from 2012-2021. From 2012 to 2021, the share of Pakistan increased by +5.3 percentage points.

In value terms, India ($X) constitutes the largest market for imported cobalt in Southern Asia, comprising 96% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 3.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +8.5%.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, increasing by 28% against the previous year. Import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 45%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while Pakistan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.5%).

Source: IndexBox Platform

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