Report Update Apr 1, 2024

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

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Venezuela: Cobalt Market 2022

Cobalt Market Size in Venezuela

The Venezuelan cobalt market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, saw a precipitous contraction. Cobalt consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Cobalt Exports

Exports from Venezuela

In 2021, the amount of cobalt exported from Venezuela totaled less than X kg, therefore, remained relatively stable against the year before. Overall, exports recorded a relatively flat trend pattern.

In value terms, cobalt exports amounted to less than $X in 2021. In general, exports showed a relatively flat trend pattern. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Cobalt Imports

Imports into Venezuela

After three years of decline, purchases abroad of cobalt increased by 375% to X kg in 2021. In general, imports, however, recorded a sharp downturn. Imports peaked at X kg in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cobalt imports soared to $X in 2021. Overall, imports, however, saw a sharp decrease. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X kg) constituted the largest supplier of cobalt to Venezuela, with a 84% share of total imports. Moreover, cobalt imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at -22.7%.

In value terms, the United States ($X) and Germany ($X) were the largest cobalt suppliers to Venezuela.

In terms of the main suppliers, the United States, with a CAGR of -12.4%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2021, the average cobalt import price amounted to $X per ton, falling by -6.6% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cobalt import price increased by +25.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 34%. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Germany stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+22.8%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cobalt in the world?

China constituted the country with the largest volume of cobalt consumption, comprising approx. 63% of total volume. Moreover, cobalt consumption in China exceeded the figures recorded by the second-largest consumer, Democratic Republic of the Congo, fourfold.

What are the largest producers of cobalt in the world?

Democratic Republic of the Congo remains the largest cobalt producing country worldwide, comprising approx. 53% of total volume. Moreover, cobalt production in Democratic Republic of the Congo exceeded the figures recorded by the second-largest producer, Canada, more than tenfold. The third position in this ranking was held by Russia, with a 3.8% share.

What are the leading suppliers of cobalt to Venezuela?

In value terms, the largest cobalt suppliers to Venezuela were the United States and Germany.

What is the average import price for cobalt in Venezuela?

The average cobalt import price stood at $179,522 per ton in 2021, waning by -6.6% against the previous year.

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

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
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