Chlorates, Bromates And Iodates Market

The global market for chlorates, bromates, iodates, and periodates is anticipated to see growth in both consumption volume and market value over the next eight years. Consumption volume is expected to reach 9.7M tons by 2030, with a forecasted market value of $50.9B. China is identified as the largest consumer of these chemicals, with the United States and India following. On the production side, China is also the largest producer, with significant growth in production volume expected in the coming years. Import and export trends are also analyzed, with the United States being the major importer and Canada being the largest exporter. Prices for these chemicals vary by country, with notable growth in export prices seen in countries like France and Uzbekistan.

Market Forecast

Driven by increasing demand for chlorates and perchlorates, bromates and perbromates, iodates and periodates worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market volume to 9.7M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market value to $50.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Chlorates And Perchlorates, Bromates And Perbromates, Iodates And Periodates

In 2022, approx. 8.6M tons of chlorates and perchlorates, bromates and perbromates, iodates and periodates were consumed worldwide; stabilizing at 2021. The total consumption volume increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Global consumption peaked at 8.6M tons in 2019; afterwards, it flattened through to 2022.

The global chlorates, bromates and iodates market size amounted to $39.6B in 2022, increasing by 2.1% 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, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $45.5B. From 2014 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

China (2.2M tons) constituted the country with the largest volume of chlorates, bromates and iodates consumption, accounting for 25% of total volume. Moreover, chlorates, bromates and iodates consumption in China exceeded the figures recorded by the second-largest consumer, India (889K tons), twofold. The United States (693K tons) ranked third in terms of total consumption with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +3.7%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+3.1% per year) and the United States (-1.0% per year).

In value terms, the largest chlorates, bromates and iodates markets worldwide were Japan ($6.8B), India ($6.8B) and the UK ($5.2B), with a combined 47% share of the global market. Brazil, China, Pakistan, Russia, Italy, Democratic Republic of the Congo, the United States, Iran and Finland lagged somewhat behind, together comprising a further 30%.

In terms of the main consuming countries, Democratic Republic of the Congo, with a CAGR of +9.5%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of chlorates, bromates and iodates per capita consumption was registered in Finland (51 kg per person), followed by Japan (3.6 kg per person), the UK (3.6 kg per person) and Italy (3.5 kg per person), while the world average per capita consumption of chlorates, bromates and iodates was estimated at 1.1 kg per person.

In Finland, chlorates, bromates and iodates per capita consumption expanded at an average annual rate of +2.9% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Japan (+0.0% per year) and the UK (-1.9% per year).

Production

World Production of Chlorates And Perchlorates, Bromates And Perbromates, Iodates And Periodates

In 2022, the amount of chlorates and perchlorates, bromates and perbromates, iodates and periodates produced worldwide shrank modestly to 8.5M tons, remaining relatively unchanged against the year before. The total output volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2013 with an increase of 7.9%. Global production peaked at 8.6M tons in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, chlorates, bromates and iodates production reached $37.9B in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 13% against the previous year. As a result, production reached the peak level of $43.3B. From 2014 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (2.2M tons) remains the largest chlorates, bromates and iodates producing country worldwide, comprising approx. 26% of total volume. Moreover, chlorates, bromates and iodates production in China exceeded the figures recorded by the second-largest producer, India (873K tons), threefold. The third position in this ranking was held by Canada (570K tons), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +3.2%. The remaining producing countries recorded the following average annual rates of production growth: India (+3.5% per year) and Canada (-3.5% per year).

Imports

World Imports of Chlorates And Perchlorates, Bromates And Perbromates, Iodates And Periodates

In 2022, purchases abroad of chlorates and perchlorates, bromates and perbromates, iodates and periodates increased by 18% to 811K tons, rising for the second year in a row after three years of decline. Overall, imports, however, saw a perceptible curtailment. Over the period under review, global imports reached the peak figure at 1.1M tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, chlorates, bromates and iodates imports soared to $716M in 2022. In general, imports, however, recorded a pronounced decrease. Global imports peaked at $886M in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, the United States (330K tons) represented the major importer of chlorates and perchlorates, bromates and perbromates, iodates and periodates, making up 41% of total imports. Sweden (86K tons) ranks second in terms of the total imports with an 11% share, followed by Portugal (6%) and Japan (5.7%). The following importers - Brazil (30K tons), Thailand (28K tons), Russia (27K tons), South Africa (20K tons), India (20K tons), Australia (17K tons), Germany (13K tons) and Austria (13K tons) - together made up 21% of total imports.

From 2012 to 2022, average annual rates of growth with regard to chlorates, bromates and iodates imports into the United States stood at -4.3%. At the same time, Russia (+67.1%), Portugal (+1.7%), Germany (+1.7%) and Austria (+1.0%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing importer imported in the world, with a CAGR of +67.1% from 2012-2022. South Africa and Australia experienced a relatively flat trend pattern. By contrast, Thailand (-1.2%), Sweden (-2.5%), Japan (-2.8%), Brazil (-2.9%) and India (-5.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Russia and Portugal increased by +3.3 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($192M) constitutes the largest market for imported chlorates and perchlorates, bromates and perbromates, iodates and periodates worldwide, comprising 27% of global imports. The second position in the ranking was taken by Japan ($34M), with a 4.7% share of global imports. It was followed by Sweden, with a 4.4% share.

In the United States, chlorates, bromates and iodates imports plunged by an average annual rate of -5.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-4.0% per year) and Sweden (-2.8% per year).

Import Prices By Country

The average chlorates, bromates and iodates import price stood at $883 per ton in 2022, with an increase of 12% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price reached 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 Germany ($1,437 per ton), while Sweden ($361 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.2%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Chlorates And Perchlorates, Bromates And Perbromates, Iodates And Periodates

In 2022, overseas shipments of chlorates and perchlorates, bromates and perbromates, iodates and periodates increased by 4% to 690K tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, continue to indicate a pronounced decline. The growth pace was the most rapid in 2021 when exports increased by 11% against the previous year. Over the period under review, the global exports reached the maximum at 883K tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, chlorates, bromates and iodates exports skyrocketed to $681M in 2022. Overall, exports, however, saw a mild descent. The global exports peaked at $782M in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, Canada (447K tons) represented the largest exporter of chlorates and perchlorates, bromates and perbromates, iodates and periodates, mixing up 65% of total exports. It was distantly followed by the United States (91K tons) and China (66K tons), together achieving a 23% share of total exports. Uruguay (18K tons), Uzbekistan (17K tons) and France (16K tons) followed a long way behind the leaders.

Exports from Canada decreased at an average annual rate of -3.6% from 2012 to 2022. At the same time, France (+31.4%), Uzbekistan (+23.1%), the United States (+5.4%) and Uruguay (+2.3%) displayed positive paces of growth. Moreover, France emerged as the fastest-growing exporter exported in the world, with a CAGR of +31.4% from 2012-2022. By contrast, China (-6.7%) illustrated a downward trend over the same period. The United States (+7.1 p.p.), Uzbekistan (+2.5 p.p.) and France (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while China and Canada saw its share reduced by -5.4% and -8.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Canada ($244M) remains the largest chlorates, bromates and iodates supplier worldwide, comprising 36% of global exports. The second position in the ranking was held by France ($93M), with a 14% share of global exports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Canada stood at -5.2%. In the other countries, the average annual rates were as follows: France (+21.1% per year) and China (-3.0% per year).

Export Prices By Country

The average chlorates, bromates and iodates export price stood at $987 per ton in 2022, surging by 21% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($5,877 per ton), while Uzbekistan ($537 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+10.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform