China: Iodine Market 2024

Iodine Market Size in China

For the fourth consecutive year, the Chinese iodine market recorded growth in sales value, which increased by 30% to $X in 2022. In general, consumption, however, posted pronounced growth. Iodine consumption peaked in 2022 and is likely to continue growth in the immediate term.

Iodine Production in China

In value terms, iodine production shrank to $X in 2022 estimated in export price. In general, production recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when the production volume increased by 50% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Iodine Exports

Exports from China

In 2022, the amount of iodine exported from China shrank dramatically to X tons, falling by -19.3% compared with the previous year's figure. Overall, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 224%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, iodine exports reduced notably to $X in 2022. Over the period under review, exports saw a abrupt contraction. The growth pace was the most rapid in 2015 with an increase of 181% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons), France (X tons) and Belgium (X tons) were the main destinations of iodine exports from China, with a combined 60% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +132.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iodine exported from China were India ($X), France ($X) and the Dominican Republic ($X), with a combined 60% share of total exports.

In terms of the main countries of destination, France, with a CAGR of +143.1%, saw 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

In 2022, the average iodine export price amounted to $X per ton, waning by -12.4% against the previous year. Over the period under review, the export price saw a abrupt slump. The pace of growth was the most pronounced in 2021 an increase of 44% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Iodine Imports

Imports into China

Iodine imports into China declined to X tons in 2022, dropping by -7.7% compared with the year before. In general, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 38%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, iodine imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2019 when imports increased by 64% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Chile (X tons) constituted the largest supplier of iodine to China, with a 84% share of total imports. Moreover, iodine imports from Chile exceeded the figures recorded by the second-largest supplier, Japan (X tons), sevenfold. Turkmenistan (X tons) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Chile amounted to +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+14.1% per year) and Turkmenistan (-0.9% per year).

In value terms, Chile ($X) constituted the largest supplier of iodine to China, comprising 86% of total imports. The second position in the ranking was held by Japan ($X), with a 10% share of total imports. It was followed by Turkmenistan, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value from Chile totaled +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+12.2% per year) and Turkmenistan (-2.1% per year).

Import Prices by Country

The average iodine import price stood at $X per ton in 2022, growing by 60% against the previous year. In general, the import price, however, saw a mild descent. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 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 Turkmenistan ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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