Eastern Europe: Iodine Market 2024

Iodine Market Size in Eastern Europe

In 2022, the East European iodine market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, saw a noticeable shrinkage. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Iodine Production in Eastern Europe

In value terms, iodine production dropped sharply to $X in 2022 estimated in export price. Over the period under review, production, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2021 when the production volume increased by 83% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Iodine Exports

Exports in Eastern Europe

In 2022, overseas shipments of iodine increased by 38% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2018 with an increase of 224%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, iodine exports surged to $X in 2022. Over the period under review, exports, however, showed a pronounced contraction. The pace of growth was the most pronounced in 2018 with an increase of 326% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Poland represented the major exporter of iodine in Eastern Europe, with the volume of exports amounting to X tons, which was near 61% of total exports in 2022. Belarus (X tons) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by Russia (14%). The Czech Republic (X tons) took a minor share of total exports.

Exports from Poland increased at an average annual rate of +31.5% from 2012 to 2022. At the same time, Belarus (+35.6%) and Russia (+2.0%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +35.6% from 2012-2022. By contrast, the Czech Republic (-9.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Poland, Belarus and Russia increased by +59, +20 and +5.9 percentage points, respectively.

In value terms, Poland ($X) emerged as the largest iodine supplier in Eastern Europe, comprising 76% of total exports. The second position in the ranking was taken by Russia ($X), with an 8.3% share of total exports. It was followed by Belarus, with a 7.7% share.

In Poland, iodine exports increased at an average annual rate of +21.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (-9.9% per year) and Belarus (+46.6% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, picking up by 108% against the previous year. In general, the export price saw a slight expansion. The growth pace was the most rapid in 2014 when the export price increased by 122%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+8.1%), while the other leaders experienced mixed trends in the export price figures.

Iodine Imports

Imports in Eastern Europe

In 2022, purchases abroad of iodine increased by 41% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.8% 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 +42.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 81% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, iodine imports soared to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 159% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) represented the key importer of iodine, committing 56% of total imports. It was distantly followed by Poland (X tons), constituting a 35% share of total imports. Ukraine (X tons), the Czech Republic (X tons) and Belarus (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Belarus (with a CAGR of +33.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constitutes the largest market for imported iodine in Eastern Europe, comprising 57% of total imports. The second position in the ranking was taken by Poland ($X), with a 26% share of total imports. It was followed by Ukraine, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia totaled +4.0%. In the other countries, the average annual rates were as follows: Poland (+14.7% per year) and Ukraine (-14.8% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, with a decrease of -5.3% against the previous year. In general, the import price showed a noticeable downturn. The pace of growth was the most pronounced in 2018 when the import price increased by 43%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ukraine ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+1.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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