Iran: Modified Starches Market 2024

Modified Starches Market Size in Iran

In 2022, the Iranian modified starches market was finally on the rise to reach $X after three years of decline. Overall, consumption recorded a relatively flat trend pattern. Modified starches consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Modified Starches Production in Iran

In value terms, modified starches production reached $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 21% against the previous year. Modified starches production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Modified Starches Exports

Exports from Iran

After three years of growth, overseas shipments of dextrins and other modified starches decreased by -21.7% to X tons in 2022. In general, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 2,542% against the previous year. The exports peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, modified starches exports dropped rapidly to $X in 2022. Over the period under review, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 686% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell sharply in the following year.

Exports by Country

Turkey (X tons) was the main destination for modified starches exports from Iran, with a 98% share of total exports. It was followed by Azerbaijan (X tons), with a 1.1% share of total exports. Armenia (X kg) ranked third in terms of total exports with a 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey stood at +34.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+12.6% per year) and Armenia (-30.3% per year).

In value terms, Turkey ($X) remains the key foreign market for dextrins and other modified starches exports from Iran, comprising 96% of total exports. The second position in the ranking was held by Azerbaijan ($X), with a 1.9% share of total exports. It was followed by Armenia, with a 0.4% share.

From 2012 to 2022, the average annual growth rate of value to Turkey amounted to +59.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (-12.6% per year) and Armenia (-21.2% per year).

Export Prices by Country

The average modified starches export price stood at $X per ton in 2022, waning by -2.1% against the previous year. Overall, the export price, however, showed a moderate increase. The most prominent rate of growth was recorded in 2018 an increase of 251% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Armenia ($X per ton), while the average price for exports to Turkey ($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 Turkey (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Iran

In 2022, the amount of dextrins and other modified starches imported into Iran shrank to X tons, which is down by -6.8% against the year before. Over the period under review, imports showed a mild decline. The pace of growth was the most pronounced in 2016 with an increase of 61%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, modified starches imports shrank sharply to $X in 2022. In general, imports showed a slight descent. The most prominent rate of growth was recorded in 2019 with an increase of 69%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of modified starches to Iran, with a 70% share of total imports. Moreover, modified starches imports from Turkey exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. The third position in this ranking was taken by the Netherlands (X tons), with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+104.3% per year) and the Netherlands (-15.4% per year).

In value terms, Turkey ($X) constituted the largest supplier of dextrins and other modified starches to Iran, comprising 51% of total imports. The second position in the ranking was held by Belgium ($X), with a 10% share of total imports. It was followed by the Netherlands, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at +29.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+117.1% per year) and the Netherlands (-11.1% per year).

Import Prices by Country

The average modified starches import price stood at $X per ton in 2022, with a decrease of -12.5% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 37%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+24.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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