EU: Iodine Market 2024

Iodine Market Size in the EU

The EU iodine market rose rapidly to $X in 2022, with an increase of 10% against the previous year. Over the period under review, consumption continues to indicate a noticeable shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Iodine Production in the EU

In value terms, iodine production dropped slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2015 when the production volume increased by 58% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Iodine Exports

Exports in the EU

In 2022, shipments abroad of iodine increased by 14% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.9% 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 +35.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 43%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, iodine exports soared to $X in 2022. In general, exports enjoyed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Belgium (X tons) was the largest exporter of iodine, comprising 74% of total exports. It was distantly followed by the Netherlands (X tons), creating a 22% share of total exports.

Exports from Belgium increased at an average annual rate of +5.3% from 2012 to 2022. At the same time, the Netherlands (+30.1%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +30.1% from 2012-2022. The Netherlands (+19 p.p.) significantly strengthened its position in terms of the total exports, while Belgium saw its share reduced by -12.3% from 2012 to 2022, respectively.

In value terms, Belgium ($X) remains the largest iodine supplier in the European Union, comprising 80% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 17% share of total exports.

In Belgium, iodine exports increased at an average annual rate of +6.2% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, surging by 50% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+0.9%).

Iodine Imports

Imports in the EU

In 2022, imports of iodine in the European Union rose significantly to X tons, picking up by 8.7% against the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 22% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, iodine imports soared to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Belgium represented the largest importer of iodine in the European Union, with the volume of imports accounting for X tons, which was approx. 46% of total imports in 2022. It was distantly followed by Italy (X tons), Germany (X tons) and France (X tons), together creating a 47% share of total imports. Spain (X tons) followed a long way behind the leaders.

Imports into Belgium increased at an average annual rate of +1.2% from 2012 to 2022. At the same time, Italy (+3.4%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing importer imported in the European Union, with a CAGR of +3.4% from 2012-2022. Spain, Germany and France experienced a relatively flat trend pattern. While the share of Italy (+5.2 p.p.) and Belgium (+4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) constitutes the largest market for imported iodine in the European Union, comprising 47% of total imports. The second position in the ranking was taken by Italy ($X), with a 22% share of total imports. It was followed by Germany, with a 14% share.

In Belgium, iodine imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Italy (+4.0% per year) and Germany (+1.3% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, picking up by 46% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Italy ($X per ton) and Belgium ($X per ton), while Spain ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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