Iodine

In 2024, iodine trade exhibited modest growth, with global flows reaching $2,115,262,480 and a three-year compound annual growth rate of +27.7% (five-year: +19.8%). The all-time peak of $2,115,262,480 was recorded in 2024.

Over the 30-year observation window (1995–2024), 69% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is strengthening (+20.5% acceleration).

The World Trade Flows Characterization classifies iodine as "One-way trade" in the medium price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is concentrated (Herfindahl-Hirschman Index 0.476). The three largest exporters — Chile ($1.4B), Japan ($308.5M), and Belgium ($160.2M) — collectively dominate supply flows. The leading exporter has grown at +33.6% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.123). The three largest import markets are China ($525.7M), India ($292.2M), and Norway ($263.2M). The largest importing market sources from 18 different supplying countries.

Estimated substitution elasticity: -16.93. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Chile → China at $444.0M, representing 84.5% of the importer's total demand.

The volatility score for iodine is 9 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, modest but steady demand provides a reasonable entry window. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.