Africa: Iodine Market 2024

Iodine Market Size in Africa

After two years of decline, the African iodine market increased by 4.3% to $X in 2022. The market value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Iodine Production in Africa

In value terms, iodine production reached $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.3% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 33% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Iodine Exports

Exports in Africa

In 2022, iodine exports in Africa soared to X tons, picking up by 16% on the previous year. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 235% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, iodine exports surged to $X in 2022. In general, exports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2014 when exports increased by 422% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa was the main exporter of iodine in Africa, with the volume of exports finishing at X tons, which was approx. 78% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), creating a 15% share of total exports. Kenya (X kg) and Namibia (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to iodine exports from South Africa stood at +3.0%. At the same time, Namibia (+51.7%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing exporter exported in Africa, with a CAGR of +51.7% from 2012-2022. By contrast, Kenya (-12.9%) and Cote d'Ivoire (-21.8%) illustrated a downward trend over the same period. While the share of South Africa (+20 p.p.), Cote d'Ivoire (+15 p.p.) and Namibia (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kenya (-12 p.p.) displayed negative dynamics.

In value terms, South Africa ($X), Cote d'Ivoire ($X) and Kenya ($X) were the countries with the highest levels of exports in 2022, with a combined 97% share of total exports. Namibia lagged somewhat behind, comprising a further 1.6%.

Namibia, with a CAGR of +37.4%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, growing by 28% against the previous year. In general, the export price, however, showed a deep reduction. The most prominent rate of growth was recorded in 2016 an increase of 236%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+19.5%), while the other leaders experienced mixed trends in the export price figures.

Iodine Imports

Imports in Africa

In 2022, purchases abroad of iodine increased by 2.8% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 114%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, iodine imports rose significantly to $X in 2022. In general, imports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 79%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Egypt (X tons), Zimbabwe (X tons), South Africa (X tons), Angola (X tons), Swaziland (X tons), Nigeria (X tons), Niger (X tons), Ethiopia (X tons) and Kenya (X tons) represented roughly 81% of total imports in 2022. Mauritius (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Niger (with a CAGR of +113.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), South Africa ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2022, with a combined 58% share of total imports. Angola, Ethiopia, Zimbabwe, Kenya, Swaziland, Mauritius and Niger lagged somewhat behind, together accounting for a further 26%.

Among the main importing countries, Niger, with a CAGR of +79.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, picking up by 10% against the previous year. Overall, the import price, however, saw a slight setback. The pace of growth appeared the most rapid in 2013 an increase of 59% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ethiopia (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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