SADC: Iodine Market 2024

Iodine Market Size in SADC

For the third consecutive year, the SADC iodine market recorded decline in sales value, which decreased by -8.9% to $X in 2022. Over the period under review, consumption showed a deep contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Iodine Production in SADC

In value terms, iodine production surged to $X in 2022 estimated in export price. Overall, production enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 1,533% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Iodine Exports

Exports in SADC

Iodine exports dropped to X tons in 2022, declining by -5.4% compared with 2021. In general, exports, however, saw noticeable growth. The growth pace was the most rapid in 2014 with an increase of 237% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, iodine exports fell markedly to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 279% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Africa dominates exports structure, reaching X tons, which was approx. 97% of total exports in 2022. Namibia (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to iodine exports from South Africa stood at +3.0%. At the same time, Namibia (+51.7%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing exporter exported in SADC, with a CAGR of +51.7% from 2012-2022. From 2012 to 2022, the share of South Africa and Namibia increased by +7.5 and +2.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest iodine supplier in SADC, comprising 96% of total exports. The second position in the ranking was taken by Namibia ($X), with a 3.3% share of total exports.

In South Africa, iodine exports increased at an average annual rate of +2.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, waning by -18.2% against the previous year. In general, the export price showed a mild reduction. The pace of growth was the most pronounced in 2018 when the export price increased by 138%. The level of export peaked at $X per ton in 2021, and then contracted sharply in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Namibia ($X per ton), while South Africa stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (-0.2%).

Iodine Imports

Imports in SADC

In 2022, purchases abroad of iodine decreased by -18.2% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports saw a perceptible shrinkage. The pace of growth was the most pronounced in 2018 when imports increased by 84% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, iodine imports declined dramatically to $X in 2022. In general, imports recorded a deep reduction. The pace of growth was the most pronounced in 2018 when imports increased by 25% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Zimbabwe (X tons), South Africa (X tons), Angola (X tons) and Swaziland (X tons) represented the main importer of iodine in SADC, generating 80% of total import. It was distantly followed by Mauritius (X tons), constituting a 6% share of total imports. Mozambique (X tons) and Tanzania (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Angola (with a CAGR of +48.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported iodine in SADC, comprising 43% of total imports. The second position in the ranking was held by Angola ($X), with a 21% share of total imports. It was followed by Zimbabwe, with a 12% share.

In South Africa, iodine imports shrank by an average annual rate of -16.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Angola (+42.4% per year) and Zimbabwe (-2.9% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, almost unchanged from the previous year. Overall, the import price recorded a deep downturn. The most prominent rate of growth was recorded in 2013 when the import price increased by 113%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Swaziland (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform