South Korea leads as the top importer of cobalt oxides and hydroxides, with a significant value of $258.4 million in 2023, indicating strong demand likely driven by its robust electronics and battery sectors.
The other top importers include Spain, the United States, and Qatar, each with imports valued between $30 million to $50 million in 2023. Germany, Japan, Italy, and Morocco follow, each importing between $10 million to $30 million. France and China round out the list, with imports valued at $10.27 million and $6.38 million respectively, possibly reflecting strategic purchases or economic adjustments.
Future trends to watch for include:
- Potential shifts in global market dynamics impacting demand, particularly in electronics and renewable energy sectors.
- Technological advancements in battery and electronics production could alter import patterns.
- Sustainability considerations and regulations may also influence trends in cobalt trade globally.
Top countries in Top Importers of Cobalt Oxides and Hydroxides
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 South Korea | 258.4 | 2016 | |
| 2 | 2 Spain | 47 | 2016 | |
| 3 | 3 United States | 39.77 | 2016 | |
| 4 | 4 Qatar | 37.02 | 2016 | |
| 5 | 5 Germany | 29.6 | 2016 | |
| 6 | 6 Japan | 18.1 | 2016 | |
| 7 | 7 Italy | 11.94 | 2016 | |
| 8 | 8 Morocco | 11.87 | 2016 | |
| 9 | 9 France | 10.27 | 2016 | |
| 10 | 10 China | 6.38 | 2016 |
