Chile: Iodine Market 2024

Iodine Market Size in Chile

In 2022, the Chilean iodine market increased by 1.2% to $X, rising for the second consecutive year after five years of decline. Over the period under review, consumption showed a strong expansion. Iodine consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Iodine Production in Chile

In value terms, iodine production reached $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2019 when the production volume increased by 31%. Iodine production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Iodine Exports

Exports from Chile

After two years of decline, shipments abroad of iodine increased by 17% to X tons in 2022. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, iodine exports soared to $X in 2022. Over the period under review, exports continue to indicate a pronounced expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Belgium (X tons) and the United States (X tons) were the main destinations of iodine exports from Chile, together accounting for 70% of total exports. India, the Netherlands, Brazil and Italy lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +19.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Belgium ($X) and the United States ($X) appeared to be the largest markets for iodine exported from Chile worldwide, together accounting for 69% of total exports. India, the Netherlands, Brazil and Italy lagged somewhat behind, together accounting for a further 25%.

In terms of the main countries of destination, Italy, with a CAGR of +19.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average iodine export price stood at $X per ton in 2022, jumping by 61% against the previous year. In general, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Brazil ($X per ton) and the Netherlands ($X per ton), while the average price for exports to the United States ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.

Iodine Imports

Imports into Chile

In 2022, after two years of growth, there was decline in purchases abroad of iodine, when their volume decreased by -2.6% to X kg. In general, imports faced a significant decrease. The most prominent rate of growth was recorded in 2020 with an increase of 137%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, iodine imports rose sharply to $X in 2022. Overall, imports showed a precipitous contraction. The pace of growth appeared the most rapid in 2013 with an increase of 55% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X kg) constituted the largest supplier of iodine to Chile, accounting for a 73% share of total imports. Moreover, iodine imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X kg), threefold. Spain (X kg) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.1% per year) and Spain (-40.8% per year).

In value terms, the United States ($X) constituted the largest supplier of iodine to Chile, comprising 59% of total imports. The second position in the ranking was taken by Germany ($X), with a 22% share of total imports. It was followed by Spain, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-9.8% per year) and Spain (+168.7% per year).

Import Prices by Country

In 2022, the average iodine import price amounted to $X per ton, rising by 8.4% against the previous year. In general, the import price enjoyed a remarkable increase. The growth pace was the most rapid in 2014 when the average import price increased by 67% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+354.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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