Republic of Korea: Market for Iodine, Fluorine And Bromine 2024

Market Size for Iodine, Fluorine And Bromine in Republic of Korea

In 2021, the South Korean iodine, fluorine and bromine market increased by 6.7% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +23.1% against 2019 indices. Iodine, fluorine and bromine consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Exports of Iodine, Fluorine And Bromine

Exports from Republic of Korea

In 2021, shipments abroad of iodine, fluorine and bromine was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports showed a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 483%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, iodine, fluorine and bromine exports soared to $X in 2021. In general, exports showed a tangible expansion. The most prominent rate of growth was recorded in 2016 with an increase of 332% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons), Japan (X tons) and China (X tons) were the main destinations of iodine, fluorine and bromine exports from South Korea, with a combined 87% share of total exports. Taiwan (Chinese), Guatemala and Singapore lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +59.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iodine, fluorine and bromine exported from South Korea were China ($X), India ($X) and Singapore ($X), with a combined 54% share of total exports. Taiwan (Chinese), Japan and Guatemala lagged somewhat behind, together accounting for a further 28%.

Taiwan (Chinese), with a CAGR of +60.4%, recorded the highest growth rate of 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

In 2021, the average iodine, fluorine and bromine export price amounted to $X per ton, declining by -17.4% against the previous year. Over the period under review, the export price recorded a pronounced reduction. The growth pace was the most rapid in 2014 an increase of 43%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Guatemala ($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 Singapore (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iodine, Fluorine And Bromine

Imports into Republic of Korea

In 2021, overseas purchases of iodine, fluorine and bromine increased by 4.4% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 91% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, iodine, fluorine and bromine imports stood at $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 57%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Israel (X tons) constituted the largest supplier of iodine, fluorine and bromine to South Korea, accounting for a 69% share of total imports. Moreover, iodine, fluorine and bromine imports from Israel exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. Jordan (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume from Israel stood at +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+8.5% per year) and Jordan (-4.9% per year).

In value terms, Japan ($X) constituted the largest supplier of iodine, fluorine and bromine to South Korea, comprising 54% of total imports. The second position in the ranking was held by Israel ($X), with a 24% share of total imports. It was followed by Chile, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (+9.9% per year) and Chile (-10.3% per year).

Import Prices by Country

The average iodine, fluorine and bromine import price stood at $X per ton in 2021, surging by 6.6% against the previous year. In general, the import price, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2020 when the average import price increased by 21%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+5.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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