In 2023, China dominated the global exports of cobalt oxides and hydroxides with a value significantly higher than other countries, highlighting its pivotal role in this sector. The United Kingdom and Italy followed, albeit with much smaller market shares. Notably, South Korea and South Africa showcased robust export growth, with increases of 4.26% and 39.11% respectively. Conversely, the United States and Germany experienced substantial declines of 11.17% and 17.94%. The export landscape indicates a diverse geopolitical footprint, with strong market shifts and emerging players such as Denmark, which saw a 16.85% increase.
Future trends to watch include:
- The evolving role of China as the market leader amidst global supply chain restructuring.
- Potential growth opportunities in emerging markets, particularly in African and Southeast Asian countries.
- The impact of technological advancements on production efficiency and emissions, potentially altering export dynamics.
- Shift towards sustainable sourcing and processing of cobalt as environmental regulations tighten globally.
Top countries in Export of Cobalt Oxides and Hydroxides by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 681,970,000 | 2023 | +5.32% | +2.97% | View data |
| 2 | 2 United Kingdom | 57,226,000 | 2023 | +3.22% | +2.34% | View data |
| 3 | 3 Italy | 18,503,000 | 2023 | +5.03% | +2.53% | View data |
| 4 | 4 South Korea | 9,712,300 | 2023 | +5.24% | +4.26% | View data |
| 5 | 5 Singapore | 5,924,700 | 2023 | +3.79% | -0.16% | View data |
| 6 | 6 Spain | 3,279,600 | 2023 | +4.8% | +3.42% | View data |
| 7 | 7 United States | 3,110,000 | 2023 | -9.58% | -11.17% | View data |
| 8 | 8 Brazil | 2,505,300 | 2023 | +5.32% | -0.1% | View data |
| 9 | 9 India | 1,619,900 | 2023 | +5.79% | +0.3% | View data |
| 10 | 10 Netherlands | 1,359,700 | 2023 | -5.43% | -8.69% | View data |
