World - Cobalt - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Mar 1, 2024

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

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Cobalt Market

Cobalt market: get the latest datasets powered by an Ai-driven market research platform. Statistics cover trade, imports, companies, production, exports, market size, market prices, and consumption. There is a breakdown by region, including the Middle East, the U.K., the U.S., Africa, Russia, EU, Latin America, and China. Market dynamics and forecast to 2030 are also featured in the snapshots.


Get FREE access to the latest REPORT on the Cobalt Market. Make informed decisions with market maps on the DASHBOARD. Download datasets on the TABLE page.

Cobalt - World's Largest Markets

RatingCountry
1China
2Philippines
3United States
4Finland

In value terms, China led the market, alone. The second position in the ranking was occupied by the Philippines. It was followed by the United States.

From 2018 to 2020, the average annual growth rate of value in China stood at -18.5%. In the other countries, the average annual rates were as follows: the Philippines (-4.3% per year) and the United States (-24.3% per year).

Cobalt Prices

Lowest Prices - FOB - Top Exporters

COUNTRY201820192020CAGR,
2018-2020
USD per ton
Democratic Republic of the Congo843480607361-6.6%
Russia332701867710278-44.4%
Canada605023504931395-28.0%
Netherlands524163685233219-20.4%
Average177901300010524-23.1%

There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was the Netherlands ($33,219 per ton), while Democratic Republic of the Congo ($7,361 per ton) was amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo, while the other global leaders experienced a decline in the export price figures.

Highest Prices - CIF - Top Importers

COUNTRY201820192020CAGR,
2018-2020
USD per ton
Japan628584374835947-24.4%
United States642323939135072-26.1%
Netherlands430143705934054-11.0%
Belgium345602841310868-43.9%
China797265937854-0.7%
Average114201059510823-2.6%

Prices varied noticeably by the country of destination; the country with the highest price was Japan ($35,947 per ton), while China ($7,854 per ton) was amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by China, while the other global leaders experienced a decline in the import price figures.

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Cobalt - Top Importers

COUNTRY201820192020CAGR,
2018-2020
billion USD
China3.722.4-19.2%
United States0.70.50.3-33.0%
Japan0.30.40.30.8%
Netherlands0.090.080.365.7%
Belgium0.080.080.097.9%

In value terms, China ($2.4B) constitutes the largest market for imported cobalt worldwide, comprising 62% of global imports. The second position in the ranking was occupied by the United States ($295M), with a 7.6% share of global imports. It was followed by Japan, with a 7.5% share.

From 2018 to 2020, the average annual rate of growth in terms of value in China stood at -19.2%. The remaining importing countries recorded the following average annual rates of imports growth: the United States (-33.0% per year) and Japan (+0.8% per year).

Cobalt - Top Exporters

COUNTRY201820192020CAGR,
2018-2020
billion USD
Democratic Republic of the Congo222.26.0%
Canada0.60.30.3-33.3%
Netherlands0.050.080.2109.6%
Russia0.20.090.08-38.2%

In value terms, Democratic Republic of the Congo ($2.2B) remains the largest cobalt supplier worldwide, comprising 59% of global exports. The second position in the ranking was occupied by Canada ($269M), with a 7.1% share of global exports. It was followed by the Netherlands, with a 6.2% share.

In Democratic Republic of the Congo, cobalt exports increased at an average annual rate of +6.0% over the period from 2018-2020. The remaining exporting countries recorded the following average annual rates of exports growth: Canada (-33.3% per year) and the Netherlands (+109.6% per year).

Cobalt - Market Forecast

Driven by rising demand for cobalt worldwide, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of for the period from 2020 to 2030, which is projected to bring the market volume to by the end of 2030.

Cobalt - Product Coverage

  • HS 810520 - Cobalt; mattes and other intermediate products of cobalt metallurgy, unwrought cobalt, powders

Source: IndexBox Market Intelligence 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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