Iodine Market

The market is expected to generate an incremental $ opportunity of US$ 466.7 Mn between 2022 and 2032

Iodine Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Iodine Market was worth US$ 101.2 Mn and is expected to grow at a CAGR of 4.7% over the forecast period. The market is expected to hit US$ 1,664.0 Mn by 2032 end.

The densest stable halogen is iodine, which is solid and has a rich, inky purple color. As it is found in many foods, such as dairy products, iodized salt, seaweed, eggs, fish, tuna, and other things, it is a highly important mineral for humans. Iodine assists in the regulation of various bodily processes and metabolism while also defending cells from poisonous and destructive chemical impacts.

The increase in people with low body iodine content in developing nations is one of the main reasons to fuel the iodine market’s growth during the projected period. Additionally, it is projected that using iodine in optical polarising films for LCD applications will further fuel the development of the iodine market. Additionally, it is predicted that the numerous benefits of iodine derivatives would temper the iodine market’s expansion.

Market Dynamic

IODINE DEFICIENCY IN HUMAN BEINGS WILL DRIVE THE MARKET GROWTH

The GDP of different nations is indirectly correlated with the expansion of the global iodine market. Iodine is widely employed in industrial applications, biocides, and human nutrition. To meet the demands of the expanding population, nations like North America, Latin America, and Asia-Pacific are generating iodine at enormous rates. This product will become more prevalent, and the iodine market will expand exponentially. The Global Iodine Market is increasing because of the rising frequency of iodine deficiency, a serious problem for people worldwide.

Government initiatives to expand the use of iodine in human nutrition and animal feed additives are some of the key drivers driving the global iodine market. Other prominent causes include the growing usage of iodine as X-ray contrast media and LED/LCD polarising films.

EXCESS INTAKE OF IODINE IS FATAL

Iodine excess can cause subclinical or overt thyroid dysfunction in people with certain risk factors, such as those who already have thyroid disease, the elderly, fetuses, and newborns. Depending on the underlying thyroid function, various people respond differently to excess iodine. Iodine poisoning can result in thyroiditis, hypothyroidism, hyperthyroidism, and thyroid papillary carcinoma.

Iodine poisoning brought on by oral intake can show symptoms in various intensities, from moderate to severe. Too much iodine can cause acneiform skin lesions, excessive salivation, gastrointestinal discomfort, and a brassy taste in the mouth.

Market Segments Covered in Report

By Source:

• Caliche Ore
• Underground Brines
• Recycling
• Seaweeds

By Form:

• Organic Compounds
• Inorganic Salts & Complexes
• Elemental & Isotopes

By Application:

• X-Ray Contrast Media
• Pharmaceuticals
• Optical Polarizing Films
• Catalyst in Polymer Processing
• Animal Feed
• Fluorochemicals
• Iodophors
• Human Nutrition
• Biocides
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which application segment is expected to dominate during the forecast period?

In 2021, the x-ray contrast media market segment dominated the iodine market. The development of medical technology has supported this sector’s expansion, and shortly, the iodine market will see a considerable increase in this area.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.

• Due to a growth in meat consumption, North America currently controls most of the iodine market. In addition, the expansion of the poultry sector will accelerate the region’s iodine market growth throughout the projection period.
• Because of the surge in government spending on healthcare, Europe is expected to experience substantial growth in the iodine industry, with a market share of 38.0%. Additionally, it is projected that a surge in cancer patients would fuel the region’s iodine market’s expansion in the upcoming years.

Competition Analysis

Technology introductions, acquisitions, and R&D initiatives are three required methods used by industry participants in the iodine sector. The top four firms account for nearly 70% of the analyzed consolidated market worldwide.

Some of the key developments that have taken place in the Iodine Market include:

• In April 2021, A partnership between I2cure Private Limited and the Indian Institute of Technology Kanpur was launched (IIT-K). This collaboration will help all subsequent studies on molecular iodine-based products. Additionally, IIT Kanpur would serve as the incubator for all future I2Cure products.
• In December 2020, Everstone Group, an Indian firm, purchased Calibre, a market leader in specialized compounds such as iodine derivatives, perchlorates, and persulfates. The acquisition will be crucial to Everstone Group’s expansion.

A list of some of the key suppliers present in the market are:

• Sociedad Química y Minera
• Iofina
• ISE Chemicals Corporation
• IOCHEM Corporation
• Compañía de Salitre y Yodo
• Algorta Norte SA
• ISR Holding

Global Iodine Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies