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Report World - Cobalt - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

World - Cobalt - Market Analysis, Forecast, Size, Trends and Insights

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Global Cobalt Market 2022

Cobalt Market Size

The global cobalt market surged to $X in 2021, with an increase of 28% against the previous year. Overall, consumption showed a prominent increase. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the global market remained at a somewhat lower figure.

Cobalt Production

In value terms, cobalt production declined to $X in 2021 estimated in export price. In general, production, however, posted a remarkable increase. The growth pace was the most rapid in 2017 when the production volume increased by 30%. Over the period under review, global production attained the peak level at $X in 2020, and then declined in the following year.

Cobalt Exports

Exports

In 2021, global exports of cobalt fell to X tons, which is down by -6.1% on the previous year's figure. The total export volume increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 75%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the global exports remained at a lower figure.

In value terms, cobalt exports expanded significantly to $X in 2021. In general, exports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 113%. The global exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Democratic Republic of the Congo dominates exports structure, reaching X tons, which was near 67% of total exports in 2021. It was distantly followed by Canada (X tons), mixing up a 4.6% share of total exports. Belgium (X tons), Malaysia (X tons), the Netherlands (X tons), Australia (X tons), Russia (X tons), Norway (X tons), Turkey (X tons), the United States (X tons) and Japan (X tons) took a relatively small share of total exports.

Democratic Republic of the Congo experienced a relatively flat trend pattern with regard to volume of exports of cobalt. At the same time, Turkey (+109.7%), Malaysia (+84.6%), the Netherlands (+15.2%), Japan (+8.7%), Norway (+6.1%), Belgium (+5.9%) and Canada (+1.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +109.7% from 2012-2021. The United States experienced a relatively flat trend pattern. By contrast, Australia (-5.8%) and Russia (-10.1%) illustrated a downward trend over the same period. While the share of Malaysia (+2.8 p.p.), the Netherlands (+1.8 p.p.) and Turkey (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Democratic Republic of the Congo (-1.6 p.p.), Australia (-1.7 p.p.) and Russia (-3.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Democratic Republic of the Congo ($X) remains the largest cobalt supplier worldwide, comprising 48% of global exports. The second position in the ranking was held by Canada ($X), with a 9.7% share of global exports. It was followed by the Netherlands, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value in Democratic Republic of the Congo stood at +16.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Canada (+6.1% per year) and the Netherlands (+30.5% per year).

Export Prices by Country

The average cobalt export price stood at $X per ton in 2021, increasing by 22% against the previous year. Overall, the export price showed a strong expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 42% against the previous year. The global export price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo (+15.2%), while the other global leaders experienced more modest paces of growth.

Cobalt Imports

Imports

In 2021, global cobalt imports totaled X tons, surging by 4.6% against the previous year's figure. In general, imports recorded a strong expansion. The growth pace was the most rapid in 2018 with an increase of 86% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of global imports remained at a lower figure.

In value terms, cobalt imports soared to $X in 2021. Over the period under review, imports showed a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of 111%. Global imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

China dominates imports structure, reaching X tons, which was approx. 84% of total imports in 2021. The following importers - Belgium (X tons), Japan (X tons), the United States (X tons), South Korea (X tons) and Malaysia (X tons) - each resulted at a 10% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to cobalt imports into China stood at +16.0%. At the same time, Malaysia (+108.9%) and South Korea (+9.4%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of +108.9% from 2012-2021. By contrast, Japan (-1.9%), the United States (-2.7%) and Belgium (-18.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Belgium and Malaysia increased by +20, +2.4 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported cobalt worldwide, comprising 71% of global imports. The second position in the ranking was taken by Japan ($X), with a 6.3% share of global imports. It was followed by the United States, with a 5.1% share.

In China, cobalt imports increased at an average annual rate of +28.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+2.7% per year) and the United States (+1.6% per year).

Import Prices by Country

The average cobalt import price stood at $X per ton in 2021, surging by 61% against the previous year. In general, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cobalt import price increased by +68.4% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the global cobalt market. 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:

    Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

    + the largest producing countries

    Data coverage:

    • Global market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Global production, split by region and country
    • Global trade (exports and imports)
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Company coverage:

    Glencore Plc, Vale S.A., Gécamines S.A., Lundin Mining Corp., Sibanye-Stillwater, Jervois Mining Ltd., Umicore N.V./S.A., Plansee Group, PJSC MMC Norilsk Nickel (Nornickel), Sherritt International Corp., BHP Billiton Plc, First Quantum Minerals Ltd., Jinchuan Group Co. Ltd., Shenzhen GEM HighTech Co. Ltd., Huayou Cobalt Co., CMOC Group Limited, Groupe Forrest International and Gécamines, Shalina Resources Ltd., Metorex Group, Fleurette Group

    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:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. 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. 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. 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. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. CONSUMPTION BY COUNTRY
      3. MARKET FORECAST TO 2030

    4. 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. 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. 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. 7. GLOBAL PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY

    8. 8. GLOBAL IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. GLOBAL EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. 11. COUNTRY PROFILES

      The Largest Markets And Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
      • United States
      • China
      • Japan
      • Germany
      • United Kingdom
      • France
      • Brazil
      • Italy
      • Russian Federation
      • India
      • Canada
      • Australia
      • Republic of Korea
      • Spain
      • Mexico
      • Indonesia
      • Netherlands
      • Turkey
      • Saudi Arabia
      • Switzerland
      • Sweden
      • Nigeria
      • Poland
      • Belgium
      • Argentina
      • Norway
      • Austria
      • Thailand
      • United Arab Emirates
      • Colombia
      • Denmark
      • South Africa
      • Malaysia
      • Israel
      • Singapore
      • Egypt
      • Philippines
      • Finland
      • Chile
      • Ireland
      • Pakistan
      • Greece
      • Portugal
      • Kazakhstan
      • Algeria
      • Czech Republic
      • Qatar
      • Peru
      • Romania
      • Vietnam

    12. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption, By Country, 2018–2023
      5. Production, In Physical Terms, By Country, 2012–2023
      6. Imports, In Physical Terms, By Country, 2012–2023
      7. Imports, In Value Terms, By Country, 2012–2023
      8. Import Prices, By Country Of Destination, 2012–2023
      9. Exports, In Physical Terms, By Country, 2012–2023
      10. Exports, In Value Terms, By Country, 2012–2023
      11. Export Prices, By Country Of Origin, 2012–2023

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Consumption, By Country, 2023
      4. Market Volume Forecast to 2030
      5. Market Value Forecast to 2030
      6. Products: Market Size And Growth, By Type
      7. Products: Average Per Capita Consumption, By Type
      8. Products: Exports And Growth, By Type
      9. Products: Export Prices And Growth, By Type
      10. Production Volume And Growth
      11. Exports And Growth
      12. Export Prices And Growth
      13. Market Size And Growth
      14. Per Capita Consumption
      15. Imports And Growth
      16. Import Prices
      17. Production, In Physical Terms, 2012–2023
      18. Production, In Value Terms, 2012–2023
      19. Production, By Country, 2023
      20. Production, In Physical Terms, By Country, 2012–2023
      21. Imports, In Physical Terms, 2012–2023
      22. Imports, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, By Country, 2023
      24. Imports, In Physical Terms, By Country, 2012–2023
      25. Imports, In Value Terms, By Country, 2012–2023
      26. Import Prices, By Country, 2012–2023
      27. Exports, In Physical Terms, 2012–2023
      28. Exports, In Value Terms, 2012–2023
      29. Exports, In Physical Terms, By Country, 2023
      30. Exports, In Physical Terms, By Country, 2012–2023
      31. Exports, In Value Terms, By Country, 2012–2023
      32. Export Prices, 2012–2023

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