Asia: Market for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides 2024

Market Size for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in Asia

The Asian cobalt oxides and hydroxides market skyrocketed to $X in 2023, jumping by X% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in Asia

In value terms, cobalt oxides and hydroxides production amounted to $X in 2023 estimated in export price. The total production indicated a mild expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports in Asia

Cobalt oxides and hydroxides exports shrank markedly to X tons in 2023, dropping by X% on the year before. Over the period under review, exports continue to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, cobalt oxides and hydroxides exports fell rapidly to $X in 2023. Overall, exports showed a noticeable contraction. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China represented the main exporter of cobalt oxides and hydroxides and commercial cobalt oxides in Asia, with the volume of exports finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by Taiwan (Chinese) (X tons), comprising a X% share of total exports. The following exporters - Singapore (X tons), South Korea (X tons) and Hong Kong SAR (X tons) - each reached a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to cobalt oxides and hydroxides exports from China stood at X%. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. Singapore experienced a relatively flat trend pattern. By contrast, South Korea (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Taiwan (Chinese) and China 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 ($X) remains the largest cobalt oxides and hydroxides supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

In China, cobalt oxides and hydroxides exports shrank by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Singapore ($X per ton) was amongst the lowest.

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

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports in Asia

In 2023, after four years of decline, there was significant growth in purchases abroad of cobalt oxides and hydroxides and commercial cobalt oxides, when their volume increased by X% to X tons. In general, imports, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, cobalt oxides and hydroxides imports surged to $X in 2023. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2023, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the main importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by South Korea (X tons) and Malaysia (X tons), together constituting a X% share of total imports. The following importers - India (X tons) and Japan (X tons) - each finished at a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to cobalt oxides and hydroxides imports into the United Arab Emirates stood at X%. At the same time, Malaysia (X%) and India (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. By contrast, Japan (X%) and South Korea (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and India (X p.p.) significantly strengthened its position in terms of the total imports, while South Korea 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, the largest cobalt oxides and hydroxides importing markets in Asia were South Korea ($X), the United Arab Emirates ($X) and Japan ($X), with a combined X% share of total imports. Malaysia and India lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, waning by X% against the previous year. Import price indicated a pronounced increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cobalt oxides and hydroxides import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted remarkably 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 South Korea ($X per ton), while Malaysia ($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 Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform