Middle East: Market for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides 2024

Market Size for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in the Middle East

The Middle Eastern cobalt oxides and hydroxides market fell to $X in 2022, waning by X% against the previous year. Overall, consumption, however, enjoyed a prominent expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in the Middle East

In value terms, cobalt oxides and hydroxides production dropped to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports in the Middle East

In 2022, after three years of growth, there was significant decline in overseas shipments of cobalt oxides and hydroxides and commercial cobalt oxides, when their volume decreased by X% to X tons. In general, exports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, cobalt oxides and hydroxides exports dropped remarkably to $X in 2022. Overall, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the main exporter of cobalt oxides and hydroxides and commercial cobalt oxides, generating X% of total exports. It was distantly followed by Turkey (X tons), achieving a X% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Turkey (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. The United Arab Emirates (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cobalt oxides and hydroxides supplying countries in the Middle East were the United Arab Emirates ($X) and Turkey ($X).

Turkey, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, rising by X% against the previous year. In general, the export price recorded a temperate increase. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports in the Middle East

In 2022, overseas purchases of cobalt oxides and hydroxides and commercial cobalt oxides decreased by X% to X tons, falling for the fourth year in a row after two years of growth. Overall, imports continue to indicate a precipitous shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, cobalt oxides and hydroxides imports fell dramatically to $X in 2022. In general, imports showed a sharp decline. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) was the major importer of cobalt oxides and hydroxides and commercial cobalt oxides, comprising X% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Iran (X tons). All these countries together took near X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iran (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Iran ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

In terms of the main importing countries, Turkey, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, surging by X% against the previous year. In general, the import price recorded a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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