Asia-Pacific: Iodine Market 2024

Iodine Market Size in Asia-Pacific

The Asia-Pacific iodine market skyrocketed to $X in 2022, increasing by 27% against the previous year. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.5% 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 +75.8% against 2018 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the immediate term.

Iodine Production in Asia-Pacific

In value terms, iodine production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible contraction. The pace of growth was the most pronounced in 2013 with an increase of 19%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Iodine Exports

Exports in Asia-Pacific

In 2022, shipments abroad of iodine increased by 12% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 18%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, iodine exports soared to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +92.1% 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, finishing at X tons, which was near 81% of total exports in 2022. It was distantly followed by South Korea (X tons), generating a 9.5% share of total exports. Singapore (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to iodine exports from Japan stood at +2.6%. At the same time, South Korea (+24.6%) and Singapore (+21.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +24.6% from 2012-2022. By contrast, India (-4.4%) illustrated a downward trend over the same period. While the share of South Korea (+8.1 p.p.) and Singapore (+3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-2.7 p.p.) and India (-3.7 p.p.) displayed negative dynamics.

In value terms, Japan ($X) remains the largest iodine supplier in Asia-Pacific, comprising 87% of total exports. The second position in the ranking was held by India ($X), with a 4.9% share of total exports. It was followed by Singapore, with a 4% share.

In Japan, iodine exports increased at an average annual rate of +4.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+6.5% per year) and Singapore (+30.5% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, rising by 22% against the previous year. Export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iodine export price increased by +82.4% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 India ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+11.4%), while the other leaders experienced more modest paces of growth.

Iodine Imports

Imports in Asia-Pacific

In 2022, the amount of iodine imported in Asia-Pacific rose to X tons, growing by 2.6% compared with 2021. Total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +8.1% against 2018 indices. The growth pace was the most rapid in 2014 when imports increased by 32% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, iodine imports surged to $X in 2022. Over the period under review, imports saw a notable increase. 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) dominates imports structure, together committing 92% of total imports. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +5.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iodine importing markets in Asia-Pacific were China ($X), India ($X) and South Korea ($X), with a combined 95% share of total imports.

China, with a CAGR of +3.7%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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-Pacific stood at $X per ton in 2022, rising by 50% against the previous year. In general, the import price, however, showed a mild decrease. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

Frequently Asked Questions (FAQ) :