Iodine, Fluorine And Bromine Market

The iodine, fluorine, and bromine market is projected to increase in both volume and value over the next eight years, with a forecasted CAGR of +3.2% and +5.5%, respectively. Consumption decreased in 2022, but overall trend is positive. Major consuming countries include China, Israel, and Jordan, with the highest levels of consumption per capita in Israel. Production and exports are also on the rise, with Israel leading in exports and China leading in imports. Import and export prices have seen notable growth over the last decade.

Market Forecast

Driven by increasing demand for iodine, fluorine and bromine worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market volume to 281K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.5% for the period from 2022 to 2030, which is projected to bring the market value to $3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Iodine, Fluorine And Bromine

In 2022, consumption of iodine, fluorine and bromine decreased by -6.3% to 217K tons for the first time since 2017, thus ending a four-year rising trend. The total consumption volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at 232K tons in 2021, and then reduced in the following year.

The global iodine, fluorine and bromine market size rose rapidly to $2B in 2022, increasing by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +80.9% against 2017 indices. Global consumption peaked in 2022 and is likely to see gradual growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (66K tons), Israel (47K tons) and Jordan (42K tons), with a combined 71% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Jordan (with a CAGR of +35.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($638M) led the market, alone. The second position in the ranking was held by Norway ($207M). It was followed by Israel.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +9.3%. The remaining consuming countries recorded the following average annual rates of market growth: Norway (+14.3% per year) and Israel (+15.2% per year).

The countries with the highest levels of iodine, fluorine and bromine per capita consumption in 2022 were Israel (5 kg per person), Jordan (4.1 kg per person) and Norway (0.9 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Jordan (with a CAGR of +32.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Iodine, Fluorine And Bromine

For the sixth consecutive year, the global market recorded growth in production of iodine, fluorine and bromine, which increased by 5.1% to 213K tons in 2022. The total output volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, production attained the peak volume and is likely to continue growth in the immediate term.

In value terms, iodine, fluorine and bromine production rose to $1.5B in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 20%. As a result, production reached the peak level of $1.6B. From 2021 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Israel (104K tons), Jordan (54K tons) and Chile (22K tons), with a combined 85% share of global production. India, Japan, the United States and the Netherlands lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +312,508.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Iodine, Fluorine And Bromine

In 2022, global iodine, fluorine and bromine imports amounted to 153K tons, remaining constant against the previous year's figure. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 14% against the previous year. Global imports peaked at 163K tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, iodine, fluorine and bromine imports surged to $2.4B in 2022. In general, imports saw noticeable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

China represented the main importing country with an import of around 66K tons, which resulted at 43% of total imports. Belgium (17K tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Free Zones (9.2%), India (8.1%) and France (5%). The UK (5.6K tons), Norway (5.1K tons), the United States (4.8K tons), Singapore (3.7K tons), Canada (3.1K tons) and Italy (2.5K tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to iodine, fluorine and bromine imports into China stood at +9.2%. At the same time, Singapore (+67.9%), Norway (+11.1%), India (+2.5%) and Canada (+1.2%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in the world, with a CAGR of +67.9% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, France (-3.8%), the United States (-4.4%), the UK (-6.1%), Belgium (-6.3%) and Free Zones (-10.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Singapore, Norway and India increased by +26, +2.4, +2.2 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($729M) constitutes the largest market for imported iodine, fluorine and bromine worldwide, comprising 30% of global imports. The second position in the ranking was taken by Belgium ($292M), with a 12% share of global imports. It was followed by India, with a 10% share.

In China, iodine, fluorine and bromine imports increased at an average annual rate of +9.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Belgium (+0.0% per year) and India (+3.0% per year).

Import Prices By Country

In 2022, the average iodine, fluorine and bromine import price amounted to $15,747 per ton, with an increase of 51% against the previous year. In general, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iodine, fluorine and bromine import price increased by +132.3% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Italy ($49,750 per ton), while Singapore ($7,100 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+18.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Iodine, Fluorine And Bromine

In 2022, the amount of iodine, fluorine and bromine exported worldwide skyrocketed to 148K tons, jumping by 20% against the previous year. Overall, exports, however, continue to indicate a mild curtailment. The growth pace was the most rapid in 2017 with an increase of 28%. Over the period under review, the global exports reached the maximum at 183K tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, iodine, fluorine and bromine exports skyrocketed to $2.4B in 2022. In general, exports enjoyed a temperate expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

Israel was the major exporter of iodine, fluorine and bromine in the world, with the volume of exports finishing at 57K tons, which was approx. 38% of total exports in 2022. It was distantly followed by Chile (21K tons), India (19K tons), Belgium (15K tons), Jordan (12K tons) and Japan (8K tons), together committing a 51% share of total exports. The United States (5.3K tons) followed a long way behind the leaders.

Exports from Israel decreased at an average annual rate of -2.1% from 2012 to 2022. At the same time, India (+48.9%), Japan (+7.2%) and Chile (+2.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +48.9% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Belgium (-8.7%) and Jordan (-11.4%) illustrated a downward trend over the same period. While the share of India (+13 p.p.), Chile (+4.8 p.p.) and Japan (+3.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Belgium (-10.7 p.p.) and Jordan (-14.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($1.1B) remains the largest iodine, fluorine and bromine supplier worldwide, comprising 47% of global exports. The second position in the ranking was taken by Belgium ($366M), with a 15% share of global exports. It was followed by Japan, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Chile amounted to +2.4%. In the other countries, the average annual rates were as follows: Belgium (+5.0% per year) and Japan (+5.4% per year).

Export Prices By Country

In 2022, the average iodine, fluorine and bromine export price amounted to $16,298 per ton, picking up by 32% against the previous year. Overall, the export price saw prominent growth. The pace of growth appeared the most rapid in 2018 an increase of 40% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($53,301 per ton), while Israel ($3,680 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+19.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform