Croatia: Iodine Market 2024

Iodine Market Size in Croatia

The Croatian iodine market declined sharply to $X in 2022, waning by -38.9% against the previous year. Over the period under review, consumption saw a perceptible shrinkage. Iodine consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Iodine Production in Croatia

In value terms, iodine production totaled $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume decreased by 99.9% against the previous year. Iodine production peaked in 2022 and is expected to retain growth in years to come.

Iodine Exports

Exports from Croatia

In 2022, shipments abroad of iodine decreased by -25.9% to X kg for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 350%. The exports peaked at X kg in 2021, and then contracted significantly in the following year.

In value terms, iodine exports fell to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 470% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

Bosnia and Herzegovina (X kg), Serbia (X kg) and the UK (X kg) were the main destinations of iodine exports from Croatia. Moreover, iodine exports in Bosnia and Herzegovina exceeded the figures recorded by the second-largest exporter, Serbia, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +36.6%), while the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for iodine exports from Croatia, comprising 72% of total exports. The second position in the ranking was taken by Serbia ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Bosnia and Herzegovina totaled +40.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+53.4% per year) and the UK (0.0% per year).

Export Prices by Country

In 2022, the average iodine export price amounted to $X per ton, rising by 27% against the previous year. Overall, the export price enjoyed significant growth. The pace of growth was the most pronounced in 2013 when the average export price increased by 313% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to the UK ($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 Serbia (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Iodine Imports

Imports into Croatia

In 2022, overseas purchases of iodine were finally on the rise to reach X kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 194% against the previous year. Imports peaked at X kg in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, iodine imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a mild shrinkage. The growth pace was the most rapid in 2019 when imports increased by 160% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

France (X kg), the Czech Republic (X kg) and Italy (X kg) were the main suppliers of iodine imports to Croatia, together comprising 88% of total imports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +22.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of iodine to Croatia, comprising 56% of total imports. The second position in the ranking was held by the Czech Republic ($X), with an 18% share of total imports. It was followed by Poland, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from France stood at +33.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+29.3% per year) and Poland (0.0% per year).

Import Prices by Country

In 2022, the average iodine import price amounted to $X per ton, growing by 23% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 112%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by North Macedonia (+47.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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