Iran: Carbonate Market 2024

Carbonate Market Size in Iran

The Iranian carbonate market stood at $X in 2021, rising by 2% against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Carbonate Production in Iran

In value terms, carbonate production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 30% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Carbonate Exports

Exports from Iran

In 2021, approx. X tons of carbonates and peroxocarbonates were exported from Iran; surging by 2.1% compared with the previous year. In general, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 49% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, carbonate exports rose remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by 64% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Azerbaijan (X tons) was the main destination for carbonate exports from Iran, accounting for a 49% share of total exports. Moreover, carbonate exports to Azerbaijan exceeded the volume sent to the second major destination, Armenia (X tons), threefold. Uzbekistan (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Azerbaijan amounted to +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+8.8% per year) and Uzbekistan (+82.2% per year).

In value terms, Azerbaijan ($X), Armenia ($X) and Uzbekistan ($X) were the largest markets for carbonate exported from Iran worldwide, together accounting for 69% of total exports. These countries were followed by Ukraine, India, China, Indonesia, Qatar and the United Arab Emirates, which together accounted for a further 23%.

Indonesia, with a CAGR of +181.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average carbonate export price stood at $X per ton in 2021, picking up by 5% against the previous year. Overall, the export price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2019 an increase of 144%. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Carbonate Imports

Imports into Iran

In 2021, overseas purchases of carbonates and peroxocarbonates decreased by -18.5% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, imports saw a abrupt shrinkage. The growth pace was the most rapid in 2016 when imports increased by 63%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, carbonate imports contracted to $X in 2021. Overall, imports saw a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 45%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Turkey (X tons), Ireland (X tons) and the United Arab Emirates (X tons) were the main suppliers of carbonate imports to Iran, together comprising 56% of total imports. China, South Korea, Spain, the Czech Republic, Italy, Bulgaria and Germany lagged somewhat behind, together comprising a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +335.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest carbonate suppliers to Iran were Turkey ($X), Ireland ($X) and China ($X), together comprising 44% of total imports. South Korea, Italy, the United Arab Emirates, the Czech Republic, Spain, Germany and Bulgaria lagged somewhat behind, together comprising a further 35%.

The Czech Republic, with a CAGR of +307.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average carbonate import price stood at $X per ton in 2021, growing by 15% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, carbonate import price increased by +67.2% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 23% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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