Iodine Market - Global Industry Analysis

Iodine Market

Global Iodine Market Industry Size, Share, Demand, Growth, Analysis and Forecast 2028

Category: Chemical & Materials Report Format : PDF Pages: 110 Report Code: ZMR-3725 Published Date: Jan-2019 Status : Published

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Iodine is an essential chemical compound that is necessary for the synthesis of thyroid hormones, i.e., triiodothyronine (T3) and thyroxine (T4). Iodine controls the functioning of thyroid hormones. Generally, iodine is found in water bodies, such as oceans, water pools, and seaweeds.

The global iodine market is predicted to witness substantial growth over the forecast time period, owing to the growing number of iodine deficient patients in developing countries, such as China and India. The increasing use of iodine in LED polarizing films and x-ray contrast media is expected to further drive the iodine market globally. However, fluctuating iodine prices due to its shortage might hamper this market’s growth in the future. Nevertheless, the technological advancement in the extraction process of iodine, especially from caliche ores and seaweed, is expected to offer new growth opportunities to the players operating in this market in the upcoming years.

Global Iodine Market

The global iodine market can be classified on the basis of type, application, and regions. Based on the type, the iodine market is fragmented into natural brines, nitrite ores, and others. Nitrite ores are widely used to extract iodine and expected to be the fastest growing segment in the future. Additionally, natural brines are projected to hold a considerable market share in the upcoming years. The application segment of the iodine market includes X-ray contrast media, LCD polarizers, health nutrition, animal nutrition, pharmaceuticals, fluorochemicals, catalysts, biocides, and other applications. X-ray contrast media is likely to dominate the market in the near future. In addition to this, the demand for iodine in pharmaceutical and animal and human nutrition application is likely to grow significantly in the next few years.

By region, the global iodine market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Europe is the largest contributor of the global iodine market and is expected to dominate globally over the forecast time period, owing to the high iodine demand due to the rising demand for X-ray contrast media in the healthcare sector. The Middle Eastern and African iodine market is projected to be the second largest regional market globally in the upcoming years. The Asia Pacific region is expected to register the highest CAGR in the upcoming years due to the growing incidence of iodine deficiency in the developing countries, such as China and India.

Some key players of the global iodine market includes Cosayach, Iofina, Calibre Chemicals Pvt. Ltd., Glide Chem Pvt. Ltd., Deepwater Chemicals, ISE Chemical Corporation, Independent Iodine, Itochu Chemical Frontier Corporation, Zen Chemicals, GODO Shigen Co. Ltd., Iochem Chemicals Corporation, Eskay Iodine, JSC Isotope, and ISR Holding Private Limited, among others.

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