The global iodine market is forecast to reach USD 1,208.3 Million by 2026, according to a new report by Reports and Data. The market is projected to witness moderate growth during the forecast period.
In the last decade, there has been a growing awareness of iodine deficiency in the developing regions. Understanding of the negative impact of iodine deficiency, have a positive effect on the growth of the market. Continuous emphasis on R&D activities in the chemical industry is also propelling market growth. Since the last decade of the 20th century, there has been an exceptional development in the organic chemistry of polyvalent iodine compounds. The rising interest in halogen compounds is associated with active oxidizing properties of polyvalent iodine components. Increased buying capacity of individuals in developing regions and expansion of the electronics industry is another mentionable factor. The development of the electronics industry has elevated the demand for LCDs, wherein the element is used in optical polarizing films.
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In context to region, Asia Pacific occupies a dominant market position. The market share held by the Asia Pacific is resultant of expanding healthcare sector, rising awareness about the health hazard associated with its deficiency, and increasing population, which in turn is increasing the demand for table salt.
Further key findings from the report suggest
- The iodine market held a market share of USD 861.7 Million in the year 2018. It is projected to witness a growth rate of 4.2% during the forecast period.
- In regards to form, the organic compounds segment generated the highest revenue of USD 482.5 Million in 2018, with the fastest growth rate of 4.4% during the forecast period. The high demand for this halogen in the organic compound form due to its diverse application in various end-user industries like- in the agrochemical industry and pet food sector contributes to the revenue generated by this segment.
- In context to Source, the Caliche Ore segment yielded the highest revenue of USD 413.6 Million in 2018 with a CAGR of 4.4% during the forecast period. Factors like economic feasibility and effectiveness of extracting the halogen from caliche ore results in high preference of this source among the manufacturers, which contributes to the revenue generated by this segment.
- In regards to Application, the X-Ray Contrast Media segment occupies the largest market share of 29.0% in 2018, with a growth rate of 4.5% during the forecast period. The market share held by the X-Ray Contrast Media segment is attributed to the expansion of healthcare sector, rising preference for technologically advanced equipment in the industry and use of contrast media in diagnostic techniques like CT scan, X-ray, among others.
- In regards to region, North America occupies the third-largest market share of0% in 2018, with a CAGR of 4.4% during the forecast period. The market share held by North America is resultant of high awareness about iodine deficiency, well-established healthcare sector, and expanding pet food industry.
- Key participants include ISE Chemicals Corporation, SQM, Iofina PLC, Cosayach Compañía De Salitre Y Yodo, Algorta Norte Sa, Nippoh Chemicals Co., Ltd., Godo Shigen Co., Ltd, Toho Earthtech Co., Ltd, Eskay Iodine Pvt. Ltd., Calibre Chemical Pvt. Ltd.
For the purpose of this report, Reports and Data have segmented the global iodine market according to Form, Source, Extraction Process, Application, and Region:
Form Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- Inorganic Salts and Complexes
- Organic Compounds
- Elemental & Isotopes
Source Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- Natural Brines
- Caliche Ore
Extraction process Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- Carbon Absorption
- Ion Exchange
Application Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- X-Ray Contrast Media
- Catalysts in Polymer Processing
- Optical Polarizing Films
- Animal Feed
- Human Nutrition
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
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