United Arab Emirates: Market for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides 2024

Market Size for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in the United Arab Emirates

In 2021, the cobalt oxides and hydroxides market in the United Arab Emirates decreased by -0.1% to $X, falling for the third consecutive year after two years of growth. In general, consumption, however, continues to indicate a prominent expansion. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports from the United Arab Emirates

In 2021, shipments abroad of cobalt oxides and hydroxides and commercial cobalt oxides increased by 48% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of 1,541% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, cobalt oxides and hydroxides exports soared to $X in 2021. Overall, exports continue to indicate a mild expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 1,604%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Brazil (X tons) was the main destination for cobalt oxides and hydroxides exports from the United Arab Emirates, with a 1,209% share of total exports. Moreover, cobalt oxides and hydroxides exports to Brazil exceeded the volume sent to the second major destination, Mauritius (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Brazil totaled +137.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritius (+12.3% per year) and Trinidad and Tobago (+10.5% per year).

In value terms, Brazil ($X) remains the key foreign market for cobalt oxides and hydroxides and commercial cobalt oxides exports from the United Arab Emirates, comprising 197% of total exports. The second position in the ranking was held by Trinidad and Tobago ($X), with a 4.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Brazil stood at +220.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (+4.5% per year) and Mauritius (+18.4% per year).

Export Prices by Country

In 2021, the average cobalt oxides and hydroxides export price amounted to $X per ton, rising by 7.3% against the previous year. Over the period under review, the export price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 151%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Mauritius ($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 Iran (+58.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports into the United Arab Emirates

In 2021, purchases abroad of cobalt oxides and hydroxides and commercial cobalt oxides decreased by -7.4% to X tons, falling for the third year in a row after two years of growth. In general, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 886% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, cobalt oxides and hydroxides imports rose notably to $X in 2021. Over the period under review, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 568% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and the Netherlands (X tons) were the main suppliers of cobalt oxides and hydroxides imports to the United Arab Emirates, together comprising 65% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +3,452.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of cobalt oxides and hydroxides and commercial cobalt oxides to the United Arab Emirates, comprising 64% of total imports. The second position in the ranking was held by India ($X), with a 26% share of total imports. It was followed by the Netherlands, with a 5% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+37.0% per year) and the Netherlands (+1,967.1% per year).

Import Prices by Country

In 2021, the average cobalt oxides and hydroxides import price amounted to $X per ton, increasing by 20% against the previous year. In general, the import price, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2018 an increase of 28% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Spain ($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 (+13.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :