In 2023, China's dominance in the global import of cobalt ores and concentrates stood strong, representing 64.33% of the market. China's slight decline of 4.62% is overshadowed by Zambia's rise of 3.38%, capturing 33.66% of the share. Other countries such as Spain, although holding a minor portion, registered a significant growth of 9.1%, emphasizing emerging interests. Conversely, Luxembourg, Qatar, Slovakia, Czech Republic, and Madagascar showed declining trends, signifying a possible shift in the sources of imports or market demands.
Future trends to watch involve observing shifts in supply chain dynamics and geopolitical factors potentially influencing these imports. Environmental concerns and sustainable mining practices might further affect import dynamics, emphasizing ethical sourcing. Furthermore, technological advancements in alternative materials could impact cobalt demand.
Top countries in Import of Cobalt Ores and Concentrates Share by Country (Kilograms)
| # | 8 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 64.33 | 2023 | -3.76% | -4.62% | View data |
| 2 | 2 Zambia | 33.66 | 2023 | +0.54% | +3.38% | View data |
| 3 | 3 Spain | 0.069 | 2023 | +4.79% | +9.1% | View data |
| 4 | 4 Luxembourg | 0.002 | 2023 | -35.86% | -21.36% | View data |
| 5 | 5 Qatar | 0.001 | 2023 | -20.13% | -11.18% | View data |
| 6 | 6 Slovakia | 0 | 2023 | -25.46% | -4.25% | View data |
| 7 | 7 Czech Republic | 0 | 2023 | -36.62% | -25.79% | View data |
| 8 | 8 Madagascar | 0 | 2023 | -26.44% | -20.06% | View data |
