Ireland: Cobalt Market 2024

Cobalt Market Size in Ireland

The Irish cobalt market soared to $X in 2023, rising by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a remarkable increase. Cobalt consumption peaked in 2023 and is likely to see steady growth in the immediate term.

Cobalt Exports

Exports from Ireland

In 2023, approx. X tons of cobalt were exported from Ireland; increasing by X% compared with 2022. In general, exports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, cobalt exports soared to $X in 2023. Overall, exports, however, showed a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for cobalt exports from Ireland, with a X% share of total exports. Moreover, cobalt exports to Germany exceeded the volume sent to the second major destination, France (X tons), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the United States (X% per year).

In value terms, Germany ($X) remains the key foreign market for cobalt exports from Ireland, comprising X% of total exports. The second position in the ranking was taken by France ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the United States (X% per year).

Export Prices by Country

The average cobalt export price stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the export price, however, enjoyed strong growth. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Cobalt Imports

Imports into Ireland

In 2023, approx. X tons of cobalt were imported into Ireland; rising by X% against the year before. Over the period under review, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports attained the maximum in 2023 and are likely to see steady growth in years to come.

In value terms, cobalt imports skyrocketed to $X in 2023. Overall, imports continue to indicate a strong increase. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked in 2023 and are expected to retain growth in the immediate term.

Imports by Country

In 2023, the United States (X tons) was the main supplier of cobalt to Ireland, with a X% share of total imports. It was followed by Belgium (X tons), with a X% share of total imports. The third position in this ranking was held by France (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and France (X% per year).

In value terms, the United States ($X) constituted the largest supplier of cobalt to Ireland, comprising X% of total imports. The second position in the ranking was held by France ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and the UK (X% per year).

Import Prices by Country

The average cobalt import price stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, import price indicated a pronounced expansion 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. The growth pace was the most rapid in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2019; however, from 2020 to 2023, import prices failed to regain momentum.

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

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

Source: IndexBox Platform