Southern Asia: Cobalt Market 2024

Cobalt Market Size in Southern Asia

The South Asian cobalt market declined significantly to $X in 2023, which is down by X% against the previous year. Over the period under review, consumption continues to indicate a deep slump. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Cobalt Production in Southern Asia

In value terms, cobalt production declined significantly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a sharp curtailment. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Cobalt Exports

Exports in Southern Asia

After three years of growth, shipments abroad of cobalt decreased by X% to X tons in 2023. Overall, exports, however, saw significant growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2022, and then declined in the following year.

In value terms, cobalt exports declined sharply to $X in 2023. Over the period under review, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. The level of export peaked at $X in 2022, and then dropped rapidly in the following year.

Exports by Country

India dominates exports structure, recording X tons, which was near X% of total exports in 2023. Pakistan (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the cobalt exports, with a CAGR of X% from 2012 to 2023. At the same time, Pakistan (X%) displayed positive paces of growth. India (X p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, India ($X) remains the largest cobalt supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was held by Pakistan ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in India amounted to X%.

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, falling by X% against the previous year. Overall, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Pakistan (X%).

Cobalt Imports

Imports in Southern Asia

In 2023, overseas purchases of cobalt decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Total imports indicated a strong expansion from 2012 to 2023: its volume 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. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, cobalt imports declined rapidly to $X in 2023. Over the period under review, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then shrank significantly in the following year.

Imports by Country

India prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2023. It was distantly followed by Pakistan (X tons), generating an X% share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2023. At the same time, Pakistan (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2023. Pakistan (X p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by X% from 2012 to 2023, respectively.

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

From 2012 to 2023, the average annual growth rate of value in India totaled X%.

Import Prices by Country

In 2023, the import price in Southern Asia amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2018; however, from 2019 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 India ($X per ton), while Pakistan amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%).

Source: IndexBox Platform