South-Eastern Asia: Cobalt Market 2024

Cobalt Market Size in South-Eastern Asia

In 2023, the Southeast Asian cobalt market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption saw a mild shrinkage. Over the period under review, the market hit record highs at $X in 2022, and then declined rapidly in the following year.

Cobalt Production in South-Eastern Asia

In value terms, cobalt production rose to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

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Cobalt Exports

Exports in South-Eastern Asia

In 2023, overseas shipments of cobalt increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Overall, exports recorded significant growth. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, cobalt exports soared to $X in 2023. In general, exports posted resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia represented the major exporter of cobalt in South-Eastern Asia, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by the Philippines (X tons), committing a X% share of total exports. Singapore (X tons) took a relatively small share of total exports.

Exports from Malaysia increased at an average annual rate of X% from 2012 to 2023. At the same time, the Philippines (X.1%) and Singapore (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X.1% from 2012-2023. While the share of Malaysia (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Singapore (X p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) emerged as the largest cobalt supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports.

In Malaysia, cobalt exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per ton, declining by X% against the previous year. Overall, the export price faced a abrupt descent. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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 Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the export price figures.

Cobalt Imports

Imports in South-Eastern Asia

In 2023, approx. X tons of cobalt were imported in South-Eastern Asia; falling by X% compared with the year before. In general, imports, however, saw a strong increase. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2022, and then reduced dramatically in the following year.

In value terms, cobalt imports shrank markedly to $X in 2023. Overall, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of import peaked at $X in 2022, and then dropped remarkably in the following year.

Imports by Country

Malaysia prevails in imports structure, finishing at X tons, which was near X% of total imports in 2023. The following importers - Thailand (X tons) and Singapore (X tons) - together made up X% of total imports.

Malaysia was also the fastest-growing in terms of the cobalt imports, with a CAGR of X% from 2012 to 2023. Singapore experienced a relatively flat trend pattern. Thailand (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore and Thailand saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported cobalt in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports.

In Malaysia, cobalt imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Singapore (X% per year).

Import Prices by Country

In 2023, the import price in South-Eastern Asia amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, saw a deep slump. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform