EU: Cobalt Market 2024

Cobalt Market Size in the EU

After two years of growth, the EU cobalt market decreased by X% to $X in 2023. Over the period under review, consumption recorded a deep setback. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.

Cobalt Production in the EU

In value terms, cobalt production expanded to $X in 2023 estimated in export price. In general, production, however, showed a mild shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Cobalt Exports

Exports in the EU

In 2023, after six years of growth, there was significant decline in overseas shipments of cobalt, when their volume decreased by X% to X tons. In general, exports, however, saw mild growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2022, and then reduced in the following year.

In value terms, cobalt exports contracted notably to $X in 2023. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2022, and then declined sharply in the following year.

Exports by Country

In 2023, Belgium (X tons) and the Netherlands (X tons) were the major exporters of cobalt in the European Union, together reaching approx. X% of total exports. It was distantly followed by Germany (X tons) and France (X tons), together making up an X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Germany (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Germany ($X) were the countries with the highest levels of exports in 2023, together comprising X% of total exports.

In terms of the main exporting countries, the Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in the European Union amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price saw a mild shrinkage. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per ton in 2018; however, 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 the Netherlands ($X per ton), while Belgium ($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 Netherlands (X%), while the other leaders experienced a decline in the export price figures.

Cobalt Imports

Imports in the EU

In 2023, purchases abroad of cobalt decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Over the period under review, imports saw a deep setback. The pace of growth was the most pronounced in 2018 with an increase of X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, cobalt imports dropped sharply to $X in 2023. In general, imports, however, recorded a pronounced expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Belgium represented the largest importing country with an import of about X tons, which resulted at X% of total imports. The Netherlands (X tons) ranks second in terms of the total imports with a X% share, followed by Germany (X%), Spain (X%), France (X%) and Ireland (X%). Austria (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. France, Ireland, Austria and Spain lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 the European Union amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, saw resilient growth. The pace of growth was the most pronounced in 2015 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2023, import prices stood at a somewhat lower figure.

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 Germany ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ireland (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform