Iran: Lithium Battery Market 2024

Lithium Battery Market Size in Iran

The Iranian lithium battery market soared to $X in 2021, rising by 37% 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). Over the period under review, consumption, however, continues to indicate a abrupt downturn. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Lithium Battery Exports

Exports from Iran

In 2021, shipments abroad of lithium cells ans batteries decreased by -46.2% to X kg for the first time since 2016, thus ending a four-year rising trend. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of 267% against the previous year. The exports peaked at X kg in 2020, and then shrank notably in the following year.

In value terms, lithium battery exports dropped to $X in 2021. In general, exports continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 65% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

South Africa (X kg) was the main destination for lithium battery exports from Iran, with a 90% share of total exports. Moreover, lithium battery exports to South Africa exceeded the volume sent to the second major destination, Mexico (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to South Africa totaled +41.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-14.9% per year) and Canada (0.0% per year).

In value terms, South Africa ($X) remains the key foreign market for lithium cells ans batteries exports from Iran, comprising 97% of total exports. The second position in the ranking was taken by Mexico ($X), with a 2.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to South Africa stood at +32.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-36.1% per year) and Canada (+2.5% per year).

Export Prices by Country

The average lithium battery export price stood at $X per ton in 2021, jumping by 79% against the previous year. Over the period under review, the export price, however, faced a deep reduction. The most prominent rate of growth was recorded in 2016 an increase of 143%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was South Africa ($X per ton), while the average price for exports to Canada ($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 Canada (-1.2%), while the prices for the other major destinations experienced a decline.

Lithium Battery Imports

Imports into Iran

In 2021, the amount of lithium cells ans batteries imported into Iran soared to X tons, surging by 27% on the previous year. Over the period under review, imports, however, showed a drastic downturn. The growth pace was the most rapid in 2013 when imports increased by 79%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, lithium battery imports skyrocketed to $X in 2021. Overall, imports, however, saw a abrupt contraction. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest lithium battery supplier to Iran, accounting for a 55% share of total imports. Moreover, lithium battery imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+19.7% per year) and Taiwan (Chinese) (+56.1% per year).

In value terms, Turkey ($X), China ($X) and Taiwan (Chinese) ($X) constituted the largest lithium battery suppliers to Iran, together accounting for 76% of total imports.

Turkey, with a CAGR of +34.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average lithium battery import price stood at $X per ton in 2021, with an increase of 22% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 67%. The import price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+12.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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