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Report World - Cobalt - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Aug 14, 2024

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

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Global Cobalt Market 2024

Cobalt Market Size

In 2023, after three years of growth, there was significant decline in the global cobalt market, when its value decreased by X% to $X. Over the period under review, consumption recorded a relatively flat trend pattern. Global consumption peaked at $X in 2022, and then shrank sharply in the following year.

Cobalt Production

In value terms, cobalt production fell markedly to $X in 2023 estimated in export price. Overall, production saw a buoyant expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, global production hit record highs at $X in 2022, and then reduced markedly in the following year.

Cobalt Exports

Exports

Global cobalt exports expanded remarkably to X tons in 2023, with an increase of X% compared with 2022 figures. In general, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the global exports reached the maximum in 2023 and are expected to retain growth in years to come.

In value terms, cobalt exports fell markedly to $X in 2023. Over the period under review, exports posted prominent growth. The growth pace was the most rapid in 2017 when exports increased by X%. The global exports peaked at $X in 2022, and then contracted rapidly in the following year.

Exports by Country

Democratic Republic of the Congo dominates exports structure, resulting at X tons, which was approx. X% of total exports in 2023. The following exporters - Malaysia (X tons), Russia (X tons) and Canada (X tons) - each amounted to a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to cobalt exports from Democratic Republic of the Congo stood at X%. At the same time, Malaysia (X%) and Russia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. By contrast, Canada (X%) illustrated a downward trend over the same period. Democratic Republic of the Congo (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the global exports, while Canada saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Democratic Republic of the Congo, cobalt exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Canada (X% per year) and Russia (X% per year).

Export Prices by Country

In 2023, the average cobalt export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price, however, recorded a moderate expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by X%. The global export price peaked at $X per ton in 2022, and then shrank sharply in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo (X%), while the other global leaders experienced mixed trends in the export price figures.

Cobalt Imports

Imports

In 2023, global cobalt imports expanded rapidly to X tons, increasing by X% compared with the year before. Over the period under review, imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2023, the growth of global imports remained at a somewhat lower figure.

In value terms, cobalt imports contracted dramatically to $X in 2023. Overall, imports posted a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. Global imports peaked at $X in 2022, and then shrank rapidly in the following year.

Imports by Country

China dominates imports structure, resulting at X tons, which was near X% of total imports in 2023. The following importers - the United States (X tons), Belgium (X tons) and Malaysia (X tons) - each reached a X% share of total imports.

Imports into China increased at an average annual rate of X% from 2012 to 2023. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. By contrast, the United States (X%) and Belgium (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China and Belgium increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, cobalt imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: the United States (X% per year) and Belgium (X% per year).

Import Prices by Country

The average cobalt import price stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2022, and then shrank dramatically in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other global leaders experienced mixed trends in the import price figures.

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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