Report Update Nov 1, 2024

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

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Global Cobalt Ore Market 2024

Cobalt Ore Market Size

In 2022, after five years of growth, there was decline in the global cobalt ore market, when its value decreased by X% to $X. Overall, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2016 indices. Global consumption peaked at $X in 2021, and then shrank in the following year.

Cobalt Ore Production

In value terms, cobalt ore production expanded slightly to $X in 2022 estimated in export price. In general, production, however, saw a strong increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, global production growth remained at a lower figure.

Cobalt Ore Exports

Exports

In 2022, approx. X tons of cobalt ores were exported worldwide; shrinking by X% against the previous year. Overall, exports continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The global exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, cobalt ore exports fell rapidly to $X in 2022. In general, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the global exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X tons) and Belgium (X tons) prevails in exports structure, together creating X% of total exports. It was distantly followed by Italy (X tons), achieving a X% share of total exports. The following exporters - Cuba (X tons), Congo (X tons) and Hong Kong SAR (X tons) - each accounted for a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of X%), while shipments for the other global leaders experienced mixed trends in the exports figures.

In value terms, Democratic Republic of the Congo ($X) remains the largest cobalt ore supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by Cuba ($X), with a X% share of global exports. It was followed by Belgium, with a X% share.

In Democratic Republic of the Congo, cobalt ore exports decreased by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Cuba (X% per year) and Belgium (X% per year).

Export Prices by Country

In 2022, the average cobalt ore export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price, however, posted tangible growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cuba ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cuba (X%), while the other global leaders experienced more modest paces of growth.

Cobalt Ore Imports

Imports

In 2022, purchases abroad of cobalt ores decreased by X% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of global imports failed to regain momentum.

In value terms, cobalt ore imports soared to $X in 2022. Overall, imports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Global imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China prevails in imports structure, reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Morocco (X tons), comprising a X% share of total imports. Finland (X tons) and Malaysia (X tons) held a relatively small share of total imports.

Imports into China decreased at an average annual rate of X% from 2012 to 2022. At the same time, Malaysia (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. By contrast, Finland (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Morocco, China and Malaysia increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported cobalt ores worldwide, comprising X% of global imports. The second position in the ranking was taken by Morocco ($X), with a X% share of global imports. It was followed by Finland, with an X% share.

In China, cobalt ore imports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Morocco (X% per year) and Finland (X% per year).

Import Prices by Country

In 2022, the average cobalt ore import price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a strong increase. The growth pace was the most rapid in 2016 when the average import price increased by X% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
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. 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. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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
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