Iran: Iodine Market 2024

Iodine Market Size in Iran

In 2022, the Iranian iodine market decreased by -13.7% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption showed a sharp curtailment. Iodine consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Iodine Production in Iran

In value terms, iodine production reached $X in 2022 estimated in export price. In general, production continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by 42% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Iodine Exports

Exports from Iran

In 2022, after two years of growth, there was significant decline in overseas shipments of iodine, when their volume decreased by -23% to X tons. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 515% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped sharply in the following year.

In value terms, iodine exports shrank to $X in 2022. In general, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 339%. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Italy (X tons), China (X tons) and India (X tons) were the main destinations of iodine exports from Iran.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +68.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and India ($X) constituted the largest markets for iodine exported from Iran worldwide.

Italy, with a CAGR of +63.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average iodine export price amounted to $X per ton, surging by 12% against the previous year. In general, the export price, however, continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2019 an increase of 42% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to India ($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 Italy (-2.8%), while the prices for the other major destinations experienced a decline.

Iodine Imports

Imports into Iran

In 2022, the amount of iodine imported into Iran contracted dramatically to X tons, reducing by -49.7% compared with 2021 figures. In general, imports, however, enjoyed a strong increase. The growth pace was the most rapid in 2021 with an increase of 14,804% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, iodine imports declined dramatically to $X in 2022. Over the period under review, imports, however, recorded a pronounced expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 10,275%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of iodine to Iran, with a 87% share of total imports. Moreover, iodine imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), eightfold. The third position in this ranking was held by Turkmenistan (X kg), with a 1.3% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to +34.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+4.5% per year) and Turkmenistan (-21.5% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of iodine to Iran, comprising 76% of total imports. The second position in the ranking was taken by India ($X), with a 21% share of total imports. It was followed by Turkmenistan, with a 1.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +32.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.4% per year) and Turkmenistan (-27.3% per year).

Import Prices by Country

In 2022, the average iodine import price amounted to $X per ton, remaining stable against the previous year. In general, the import price, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when the average import price increased by 29% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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