Eastern Asia: Iodine Market 2024

Iodine Market Size in Eastern Asia

The East Asian iodine market skyrocketed to $X in 2022, picking up by 20% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Iodine Production in Eastern Asia

In value terms, iodine production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, showed a perceptible reduction. The pace of growth appeared the most rapid in 2013 with an increase of 19%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Iodine Exports

Exports in Eastern Asia

Iodine exports expanded significantly to X tons in 2022, surging by 7.8% against 2021. The total export volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when exports increased by 14% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, iodine exports surged to $X in 2022. Total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +106.0% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan was the largest exporter of iodine in Eastern Asia, with the volume of exports amounting to X tons, which was near 88% of total exports in 2022. It was distantly followed by South Korea (X tons), committing a 10% share of total exports.

Exports from Japan increased at an average annual rate of +2.6% from 2012 to 2022. At the same time, South Korea (+24.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +24.6% from 2012-2022. While the share of South Korea (+8.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-4.6 p.p.) displayed negative dynamics.

In value terms, Japan ($X) remains the largest iodine supplier in Eastern Asia, comprising 97% of total exports. The second position in the ranking was held by South Korea ($X), with a 2.2% share of total exports.

In Japan, iodine exports increased at an average annual rate of +4.4% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, increasing by 20% against the previous year. Over the period under review, the export price showed 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 failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.8%).

Iodine Imports

Imports in Eastern Asia

After three years of growth, purchases abroad of iodine decreased by -9.2% to X tons in 2022. Total imports indicated a pronounced 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. The pace of growth was the most pronounced in 2017 when imports increased by 37% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, iodine imports skyrocketed to $X in 2022. In general, imports, however, saw perceptible growth. The growth pace was the most rapid in 2019 when imports increased by 52%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

China dominates imports structure, recording X tons, which was near 96% of total imports in 2022. South Korea (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the iodine imports, with a CAGR of +5.5% from 2012 to 2022. At the same time, South Korea (+1.1%) displayed positive paces of growth. While the share of China (+9.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported iodine in Eastern Asia, comprising 97% of total imports. The second position in the ranking was held by South Korea ($X), with a 2.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value in China stood at +3.7%.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, picking up by 59% against the previous year. Over the period under review, the import price, however, continues to indicate a mild slump. The level of import peaked 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 amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.7%).

Source: IndexBox Platform

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