Asia: Iodine Market 2024

Iodine Market Size in Asia

The Asian iodine market surged to $X in 2022, growing by 27% against the previous year. The total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +71.1% against 2018 indices. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Iodine Production in Asia

In value terms, iodine production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2019 with an increase of 17% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Iodine Exports

Exports in Asia

In 2022, overseas shipments of iodine were finally on the rise to reach X tons after three years of decline. The total export volume increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when exports increased by 16%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, iodine exports skyrocketed to $X in 2022. Total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +98.9% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan prevails in exports structure, recording X tons, which was near 63% of total exports in 2022. South Korea (X tons) held the second position in the ranking, followed by Turkmenistan (X tons) and Iran (X tons). All these countries together held approx. 21% share of total exports. The following exporters - Azerbaijan (X tons), the United Arab Emirates (X tons) and Singapore (X tons) - together made up 11% of total exports.

From 2012 to 2022, average annual rates of growth with regard to iodine exports from Japan stood at +2.6%. At the same time, Iran (+35.1%), the United Arab Emirates (+34.4%), South Korea (+24.6%), Singapore (+21.4%), Turkmenistan (+7.9%) and Azerbaijan (+4.6%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in Asia, with a CAGR of +35.1% from 2012-2022. While the share of South Korea (+6.1 p.p.), Iran (+5.4 p.p.), the United Arab Emirates (+3.4 p.p.), Singapore (+2.3 p.p.) and Turkmenistan (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-11.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest iodine supplier in Asia, comprising 70% of total exports. The second position in the ranking was held by Turkmenistan ($X), with a 6.3% share of total exports. It was followed by Azerbaijan, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value in Japan stood at +4.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkmenistan (-0.4% per year) and Azerbaijan (+6.3% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of 19% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+7.5%), while the other leaders experienced more modest paces of growth.

Iodine Imports

Imports in Asia

In 2022, supplies from abroad of iodine increased by 2.3% to X tons for the first time since 2019, thus ending a two-year declining trend. Total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 31%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, iodine imports surged to $X in 2022. Overall, imports recorded a perceptible expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons) and India (X tons) prevails in imports structure, together mixing up 92% of total imports. South Korea (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +5.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 95% of total imports.

In terms of the main importing countries, China, with a CAGR of +3.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, rising by 50% against the previous year. Over the period under review, the import price, however, showed a mild downturn. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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