Report Update May 1, 2024

World - Cobalt ores - Market Analysis, Forecast, Size, Trends and Insights

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Global Cobalt Ore Market 2024

Cobalt Ore Market Size

The global cobalt ore market stood at $X in 2023, surging by X% against the previous year. Overall, the total consumption indicated a tangible increase from 2012 to 2023: its value 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, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the global market remained at a somewhat lower figure.

Cobalt Ore Production

In value terms, cobalt ore production stood at $X in 2023 estimated in export price. In general, production, however, recorded a sharp shrinkage. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, global production reached the peak level at $X.5B in 2012; however, from 2013 to 2023, production remained at a lower figure.

Cobalt Ore Exports

Exports

In 2023, global exports of cobalt ores dropped remarkably to X tons, with a decrease of X% against the previous year's figure. Over the period under review, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2022 when exports increased by X%. Over the period under review, the global exports reached the maximum at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, cobalt ore exports reduced markedly to $X in 2023. In general, exports showed a deep reduction. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. Over the period under review, the global exports hit record highs at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

Democratic Republic of the Congo dominates exports structure, resulting at X tons, which was approx. X% of total exports in 2023. Italy (X tons) held the second position in the ranking, followed by Austria (X tons) and Malaysia (X tons). All these countries together took near X% share of total exports. Belgium (X tons) and Cuba (X tons) held a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to cobalt ore exports from Democratic Republic of the Congo stood at X%. At the same time, Italy (X%), Malaysia (X%), Austria (X%) and Belgium (X%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. By contrast, Cuba (X%) illustrated a downward trend over the same period. While the share of Italy (X p.p.), Austria (X p.p.), Malaysia (X p.p.) and Belgium (X p.p.) increased significantly in terms of the global exports from 2012-2023, the share of Democratic Republic of the Congo (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Democratic Republic of the Congo ($X) remains the largest cobalt ore supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Cuba ($X), with a X% share of global exports. It was followed by Austria, with a X% share.

In Democratic Republic of the Congo, cobalt ore exports declined by 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: Cuba (X% per year) and Austria (X% per year).

Export Prices by Country

The average cobalt ore export price stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price, however, posted buoyant growth. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021; however, from 2022 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 Cuba ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cuba (X%), while the other global leaders experienced more modest paces of growth.

Cobalt Ore Imports

Imports

Global cobalt ore imports contracted notably to X tons in 2023, with a decrease of X% on the previous year's figure. Overall, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2022 when imports increased by X%. Global imports peaked at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, cobalt ore imports dropped remarkably to $X in 2023. Over the period under review, imports faced a abrupt decrease. The pace of growth was the most pronounced in 2022 when imports increased by X%. Over the period under review, global imports attained the maximum at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

China was the key importer of cobalt ores in the world, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. Morocco (X tons) took the second position in the ranking, distantly followed by Finland (X tons). All these countries together held approx. X% share of total imports. The United Arab Emirates (X tons) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to cobalt ore imports into China stood at X%. At the same time, Morocco (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. By contrast, Finland (X%) illustrated a downward trend over the same period. While the share of Morocco (X p.p.), Finland (X p.p.) and the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported cobalt ores worldwide, comprising X% of global imports. The second position in the ranking was held by Finland ($X), with a X% share of global imports. It was followed by the United Arab Emirates, with a X% share.

In China, cobalt ore imports plunged by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Finland (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2023, the average cobalt ore import price amounted to $X per ton, reducing by X% against the previous year. In general, the import price, however, saw noticeable growth. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

Global market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Global production, split by region and country
Global trade (exports and imports)
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. CONSUMPTION BY COUNTRY
3. 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. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
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
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023