Peru: Iodine Market 2024

Iodine Market Size in Peru

The Peruvian iodine market expanded modestly to $X in 2022, rising by 4% against the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.9% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Iodine Production in Peru

In value terms, iodine production rose to $X in 2022 estimated in export price. In general, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 18%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Iodine Exports

Exports from Peru

In 2022, the amount of iodine exported from Peru fell notably to X kg, waning by -29.9% against the previous year's figure. Overall, exports saw a sharp decline. The growth pace was the most rapid in 2021 with an increase of 151% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, iodine exports shrank significantly to $X in 2022. Over the period under review, exports faced a precipitous shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 70% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X kg) was the main destination for iodine exports from Peru, accounting for a 47% share of total exports. Moreover, iodine exports to Italy exceeded the volume sent to the second major destination, Bolivia (X kg), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Italy was relatively modest.

In value terms, Italy ($X) emerged as the key foreign market for iodine exports from Peru, comprising 45% of total exports. The second position in the ranking was taken by Bolivia ($X), with a 9.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy was relatively modest.

Export Prices by Country

In 2022, the average iodine export price amounted to $X per ton, picking up by 13% against the previous year. Over the period under review, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iodine export price decreased by -23.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of 21% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Italy stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+9.4%).

Iodine Imports

Imports into Peru

Iodine imports into Peru skyrocketed to X tons in 2022, jumping by 44% against 2021. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, iodine imports skyrocketed to $X in 2022. In general, imports, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 37% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Chile (X tons) was the main supplier of iodine to Peru, with a 95% share of total imports. It was followed by China (X kg), with a 0.7% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Chile amounted to +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-22.5% per year) and India (-40.6% per year).

In value terms, Chile ($X) constituted the largest supplier of iodine to Peru, comprising 87% of total imports. The second position in the ranking was taken by India ($X), with a 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Chile totaled -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-38.6% per year) and China (-26.2% per year).

Import Prices by Country

In 2022, the average iodine import price amounted to $X per ton, shrinking by -11% against the previous year. Over the period under review, the import price recorded a noticeable decline. The pace of growth was the most pronounced in 2019 when the average import price increased by 26% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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