Heavy Water, Isotopes And Their Compounds Market

The article discusses the increasing demand for heavy water and isotopes globally, with a forecasted growth in market volume and value. Data on market performance, consumption trends, production, imports, and exports are provided, along with insights into top consuming countries and key growth rates. Detailed analysis of market patterns from 2012 to 2022 and projections up to 2030 are also presented.

Market Forecast

Driven by increasing demand for heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) 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 +4.0% for the period from 2022 to 2030, which is projected to bring the market volume to 2.5K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.4% for the period from 2022 to 2030, which is projected to bring the market value to $4.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Heavy Water (Deuterium Oxide); Isotopes And Their Compounds (Excluding Radioactive And The Fissile Or Fertile Chemical Isotopes)

In 2022, global consumption of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) reached 1.8K tons, with an increase of 1.8% against 2021. The total consumption volume increased at an average annual rate of +4.6% 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 2.1K tons in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

The value of the market for heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) worldwide was estimated at $2.6B in 2022, flattening at 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). In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.1% 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 +24.6% against 2018 indices. Over the period under review, the global market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (339 tons), Italy (226 tons) and the Netherlands (104 tons), with a combined 36% share of global consumption. France, South Korea, India, the United States, Pakistan, Georgia, Oman, Russia, Taiwan (Chinese) and Nigeria lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of isotopes), amongst the key consuming countries, was attained by Oman (with a CAGR of +42.6%), while isotopes) for the other global leaders experienced more modest paces of growth.

In value terms, China ($1.9B) led the market, alone. The second position in the ranking was held by South Korea ($109M). It was followed by Taiwan (Chinese).

From 2012 to 2022, the average annual growth rate of value in China amounted to +10.9%. In the other countries, the average annual rates were as follows: South Korea (+15.0% per year) and Taiwan (Chinese) (+17.9% per year).

The countries with the highest levels of heavy water, isotopes and their compounds per capita consumption in 2022 were Georgia (14 kg per 1000 persons), Oman (7.3 kg per 1000 persons) and the Netherlands (6 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +36.6%), while isotopes) for the other global leaders experienced more modest paces of growth.

Production

World Production of Heavy Water (Deuterium Oxide); Isotopes And Their Compounds (Excluding Radioactive And The Fissile Or Fertile Chemical Isotopes)

In 2022, production of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) increased by 12% to 2K tons, rising for the second consecutive year after four years of decline. The total output volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 47%. Over the period under review, global production of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and fissile or fertile chemical isotopes) reached the maximum volume at 2.5K tons in 2016; however, from 2017 to 2022, production remained at a lower figure.

In value terms, production of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) contracted modestly to $2.2B in 2022 estimated in export price. The total output value increased at an average annual rate of +5.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 46%. Over the period under review, global production of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and fissile or fertile chemical isotopes) attained the peak level at $2.6B in 2017; however, from 2018 to 2022, production remained at a lower figure.

Production By Country

The United States (475 tons) constituted the country with the largest volume of production of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes), accounting for 24% of total volume. Moreover, production of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) in the United States exceeded the figures recorded by the second-largest producer, China (236 tons), twofold. Canada (204 tons) ranked third in terms of total production with a 10% share.

In the United States, production of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) increased at an average annual rate of +5.4% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: China (+5.6% per year) and Canada (+9.4% per year).

Imports

World Imports of Heavy Water (Deuterium Oxide); Isotopes And Their Compounds (Excluding Radioactive And The Fissile Or Fertile Chemical Isotopes)

Global imports of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) was estimated at 1.4K tons in 2022, with an increase of 12% compared with the previous year. Overall, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 38%. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, imports of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) skyrocketed to $1.3B in 2022. Over the period under review, imports continue to indicate a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

The countries with the highest levels of imports of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) in 2022 were the United States (254 tons), Italy (233 tons) and the Netherlands (177 tons), together resulting at 48% of total import. It was distantly followed by China (113 tons), France (82 tons) and South Korea (81 tons), together constituting a 20% share of total imports. Canada (49 tons), Spain (41 tons), Belgium (41 tons), Germany (35 tons), the UK (29 tons), Pakistan (27 tons) and India (26 tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Netherlands (with a CAGR of +53.9%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest heavy water, isotopes and their compounds importing markets worldwide were China ($215M), the United States ($160M) and South Korea ($155M), with a combined 42% share of global imports. The Netherlands, Germany, Belgium, Spain, France, Canada, the UK, India, Italy and Pakistan lagged somewhat behind, together accounting for a further 21%.

The Netherlands, with a CAGR of +52.5%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average import price for heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) amounted to $928,468 per ton, rising by 47% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) increased by +76.1% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($1,909,047 per ton), while Pakistan ($4,831 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+14.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Heavy Water (Deuterium Oxide); Isotopes And Their Compounds (Excluding Radioactive And The Fissile Or Fertile Chemical Isotopes)

In 2022, overseas shipments of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) increased by 26% to 1.5K tons, rising for the second consecutive year after two years of decline. In general, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.3% against 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 38% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, exports of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) skyrocketed to $1.1B in 2022. Overall, exports recorded a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, the United States (662 tons) represented the key exporter of heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes), comprising 43% of total exports. Canada (217 tons) held the second position in the ranking, followed by Romania (137 tons) and the Netherlands (88 tons). All these countries together took approx. 29% share of total exports. France (64 tons), Georgia (47 tons), India (45 tons), Germany (40 tons), Oman (32 tons), Israel (26 tons) and Japan (24 tons) followed a long way behind the leaders.

Exports from the United States increased at an average annual rate of +8.5% from 2012 to 2022. At the same time, Romania (+92.1%), the Netherlands (+34.4%), Japan (+32.4%), India (+11.2%), Canada (+7.2%), France (+3.5%), Germany (+3.2%) and Georgia (+2.6%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing exporter exported in the world, with a CAGR of +92.1% from 2012-2022. By contrast, Israel (-4.0%) and Oman (-15.1%) illustrated a downward trend over the same period. While the share of Romania (+8.9 p.p.), the United States (+8.1 p.p.) and the Netherlands (+5.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Israel (-3 p.p.) and Oman (-17.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($237M) remains the largest heavy water, isotopes and their compounds supplier worldwide, comprising 21% of global exports. The second position in the ranking was taken by Canada ($98M), with an 8.8% share of global exports. It was followed by the Netherlands, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +11.9%. In the other countries, the average annual rates were as follows: Canada (+11.3% per year) and the Netherlands (+22.8% per year).

Export Prices By Country

In 2022, the average export price for heavy water (deuterium oxide); isotopes and their compounds (excluding radioactive and the fissile or fertile chemical isotopes) amounted to $727,674 per ton, surging by 31% against the previous year. Over the period under review, the export price continues to indicate a strong increase. The growth pace was the most rapid in 2019 when the average export price increased by 36%. The global export price peaked 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 Japan ($1,253,131 per ton), while Oman ($220,292 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform