In 2023, Belgium dominated the European export market for cobalt oxides and hydroxides, holding a 75.82% share. The United Kingdom and Netherlands followed with 9.21% and 7.09% shares, respectively. Notably, Estonia experienced a significant increase of 185.12% year-on-year, while the Netherlands also saw substantial growth at 51.36%. Other noteworthy changes include Denmark's increase of 46.06% and Bulgaria's significant decline of 47.47%. Over the last five years, trends indicate variable growth, with countries like the Netherlands and Estonia showing potential for future expansion.
Future trends to watch include:
- Continued growth in smaller markets like Estonia and Denmark, potentially increasing their market share.
- The possibility of redistribution of market share if leading countries like Belgium and the United Kingdom continue with negative growth trends.
- Impact of technological advancements and regulatory changes on production and exports.
Top countries in Export of Cobalt Oxides and Hydroxides, Commercial Cobalt Oxides Share by Country (Kilograms)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 75.82 | 2023 | +13.66% | -4.3% | View data |
| 2 | 2 United Kingdom | 9.21 | 2023 | -3.25% | -1.84% | View data |
| 3 | 3 Netherlands | 7.09 | 2023 | +6.66% | +51.36% | View data |
| 4 | 4 Italy | 4.13 | 2023 | +4.49% | +2.76% | View data |
| 5 | 5 Germany | 0.7 | 2023 | +2.29% | -6.02% | View data |
| 6 | 6 Spain | 0.64 | 2023 | +22.81% | -2.21% | View data |
| 7 | 7 Estonia | 0.22 | 2023 | +32.62% | +185.12% | View data |
| 8 | 8 Latvia | 0.21 | 2023 | +2.46% | -17.16% | View data |
| 9 | 9 France | 0.14 | 2021 | +62.94% | +18.56% | View data |
| 10 | 10 Denmark | 0.069 | 2023 | +2.87% | +46.06% | View data |
