Middle East: Iodine Market 2024

Iodine Market Size in the Middle East

In 2022, the Middle Eastern iodine market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption showed a abrupt downturn. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Iodine Production in the Middle East

In value terms, iodine production totaled $X in 2022 estimated in export price. Overall, production recorded buoyant growth. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level in 2022 and is likely to see steady growth in years to come.

Iodine Exports

Exports in the Middle East

In 2022, overseas shipments of iodine decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted in the following year.

In value terms, iodine exports declined to $X in 2022. Over the period under review, exports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then fell in the following year.

Exports by Country

Iran represented the largest exporter of iodine in the Middle East, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Turkey (X tons) and the United Arab Emirates (X tons), together achieving a X% share of total exports.

Iran was also the fastest-growing in terms of the iodine exports, with a CAGR of X% from 2012 to 2022. At the same time, Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. From 2012 to 2022, the share of Iran and Turkey increased by X and X percentage points, respectively.

In value terms, the largest iodine supplying countries in the Middle East were Iran ($X), the United Arab Emirates ($X) and Turkey ($X), together accounting for X% of total exports.

Iran, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Iodine Imports

Imports in the Middle East

In 2022, approx. X tons of iodine were imported in the Middle East; shrinking by X% on the previous year. Over the period under review, imports, however, showed a measured increase. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, iodine imports soared to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the key importer of iodine in the Middle East, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Turkey (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Iran (X%). Israel (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported iodine in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by Iran, with an X% share.

In the United Arab Emirates, iodine imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Iran (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, jumping by X% against the previous year. Overall, the import price, however, showed a slight decline. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood 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 Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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