World - Iodine - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact
Global Iodine Production Gains 5% with Boosting Outputs in Chile and Japan
IndexBox has just published a new report: 'World - Iodine - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
In 2021, global iodine production grew by 5% to 35K tonnes, recovering from the 2020's crisis. The leading iodine producers, namely Chile and Japan, saw the most prominent increases in outputs compared to other countries.
Global iodine output expanded to 35K tonnes in 2021, picking up by 5% on 2020 figures. In value terms, production declined to $942M in 2021 estimated in export prices.
The country with the largest volume of iodine production was Chile (22K tonnes), comprising approx. 63% of total volume. Moreover, iodine production in Chile exceeded the figures recorded by the second-largest producer, Japan (9K tonnes), twofold. The U.S. (1.1K tonnes), with a 3.3% share, took the third position in the ranking.
Chile's iodine production increased by +8.9% compared to the last year. Japan boosted iodine output by +1.4%, while production in the U.S. insignificantly dropped.
Iodine Market Forecast 2021-2025
Driven by increasing demand for iodine worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.6% for the period from 2021 to 2030, which is projected to bring the market volume to 38K tonnes by the end of 2030.
In 2021, overseas shipments of iodine were finally on the rise to reach 36K tonnes after two years of decline. The total export volume increased at an average annual rate of +2.3% from 2007 to 2021. In value terms, iodine exports were estimated at $1.1B (IndexBox estimates) in 2021.
Exports by Country
Chile represented the main exporting country with the exports volume of around 18K tonnes, which accounted for 50% of total supplies. Belgium (7K tonnes) ranks second in the ranking with a 19% share, followed by Japan (14%) and the U.S. (5.1%). The Netherlands (1.3K tonnes) and Turkmenistan (0.7K tonnes) held a relatively small share of total volume.
In value terms, Chile ($602M) remains the largest iodine supplier worldwide, comprising 54% of global exports. Belgium ($206M), with a 19% share of total supplies, took the second position in the ranking. It was followed by Japan, with a 14% share.
In Chile, iodine exports expanded at an average annual rate of +4.2% over the period from 2007-2021. In the other countries, the average annual rates were as follows: Belgium (+9.1% per year) and Japan (+4.3% per year).
Iodine Export Prices by Country
In 2021, the average iodine export price amounted to $30,817 per tonne, falling by -5.2% against the previous year. Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Chile ($33,218 per tonne) and Japan ($29,792 per tonne), while Turkmenistan ($23,540 per tonne) and the U.S. ($27,912 per tonne) were amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Japan, while the other global leaders experienced more modest paces of growth.
Leading Iodine Importers
In 2021, China (6.7K tonnes), distantly followed by Belgium (4.1K tonnes), the U.S. (4.1K tonnes), Norway (3.5K tonnes), India (3.4K tonnes), Italy (1.9K tonnes) and Germany (1.7K tonnes) represented the largest importers of iodine, together mixing up 75% of total purchases. France (1.5K tonnes), the Netherlands (1K tonnes), Brazil (1K tonnes), the UK (0.9K tonnes) and Canada (0.9K tonnes) occupied a minor share of total volume.
In value terms, China ($202M), Belgium ($140M) and the U.S. ($134M) constituted the countries with the highest levels of imports in 2021, together accounting for 45% of global supplies.
Source: IndexBox Platform
This report provides an in-depth analysis of the global iodine market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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