Report Update May 1, 2024

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

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Latvia: Cobalt Market 2024

Cobalt Market Size in Latvia

The Latvian cobalt market surged to $X in 2023, growing 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). Over the period under review, consumption, however, showed a noticeable shrinkage. Cobalt consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Cobalt Exports

Exports from Latvia

In 2023, the amount of cobalt exported from Latvia shrank markedly to X kg, reducing by X% against the previous year's figure. Overall, exports, however, continue to indicate a significant increase. Over the period under review, the exports hit record highs at X kg in 2022, and then dropped notably in the following year.

In value terms, cobalt exports surged to $X in 2023. Over the period under review, exports recorded a abrupt setback. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

Denmark (X kg) was the main destination for cobalt exports from Latvia, with a X% share of total exports. Moreover, cobalt exports to Denmark exceeded the volume sent to the second major destination, the Netherlands (X kg), twofold.

From 2018 to 2023, the average annual rate of growth in terms of volume to Denmark was relatively modest.

In value terms, Denmark ($X) emerged as the key foreign market for cobalt exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports.

From 2018 to 2023, the average annual growth rate of value to Denmark was relatively modest.

Export Prices by Country

The average cobalt export price stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, the export price, however, recorded a significant curtailment. The export price peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to the Netherlands totaled $X per ton.

From 2018 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%).

Cobalt Imports

Imports into Latvia

In 2023, after five years of growth, there was significant decline in overseas purchases of cobalt, when their volume decreased by X% to X kg. Over the period under review, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X kg in 2022, and then shrank dramatically in the following year.

In value terms, cobalt imports fell markedly to $X in 2023. Overall, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Denmark (X kg) and Germany (X kg) were the main suppliers of cobalt imports to Latvia.

From 2014 to 2023, the biggest increases were recorded for Germany (with a CAGR of X%).

In value terms, the largest cobalt suppliers to Latvia were Denmark ($X) and Germany ($X).

Germany, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.

Import Prices by Country

The average cobalt import price stood at $X per ton in 2023, reducing by X% against the previous year. In general, the import price recorded a pronounced decline. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Denmark totaled $X per ton.

From 2014 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%).

Source: IndexBox Platform

This report provides an in-depth analysis of the cobalt market in Latvia. 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:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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 In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023