Iodine Market

Market Overview:

The global iodine market size reached US$ 947.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,309.0 Million by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.

Iodine (I₂) is a trace element naturally found in dairy products, seafood, seaweed, eggs, and vegetables. It is widely utilized for making the thyroid hormones thyroxine (T4) and triiodothyronine (T3) as it assists in regulating the metabolism and increasing the production of proteins. Besides this, as it also aids in treating mammary dysplasia and fibrocystic breast disease, the consumption of I₂-rich food products is escalating across the globe.

Iodine Market Trends:

There is presently a rise in the number of people suffering from I₂ deficiency disorders, which include mental retardation, hypothyroidism, goiter, cretinism, and varying degrees of other growth and developmental abnormalities. As a result, international health organizations are mandating the use of all food-grade salt in households and food processing units for preventing and controlling I₂ deficiency disorders around the world. This, in confluence with the thriving pharmaceutical industry, is bolstering the growth of the market. Moreover, I₂ is employed as a disinfectant for cleaning surfaces and storage containers, skin soaps and bandages, and purifying water. It also plays a crucial role as a reagent in analytical chemistry and a catalyst in the alkylation and condensation of aromatic amines and sulfation and sulfonations. Apart from this, I₂ is used in the manufacturing of organic and inorganic chemicals, radiopaque contrast agents, animal feed supplements, stabilizers, inks, colorants, photographic chemicals, and synthetic rubber. This, coupled with the rising demand for I₂ in X-radiation imaging modalities, such as computed tomography (CT), is strengthening the growth of the market. Other factors, such as the increasing health consciousness among individuals and significant growth in the healthcare industry, are positively influencing the overall sales and profitability.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global iodine market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on source, form and application.

Breakup by Source:

• Underground Brine
• Caliche Ore
• Recycling
• Seaweeds
   

Breakup by Form:

• Inorganic Salts and Complexes
• Organic Compounds
• Elementals and Isotopes
   

Breakup by Application:

• Animal Feed
• X-Ray Contrast Media
• Biocides
• Optical Polarizing Films
• Fluorochemicals
• Nylon
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Algorta Norte Sa, Calibre Chemicals Pvt. Ltd., Deepwater Chemicals Inc. (Toyota Tsusho Corporation), Eskay Iodine Pvt. Ltd., GODO SHIGEN Co. Ltd., Iochem Corporation, Iofina plc, Ise Chemicals Corporation (AGC Inc.), Nippoh Chemicals Co. Ltd., Protochem Industries Pvt. Ltd., Salvi Chemical Industries Ltd. and Sociedad Quimica y Minera de Chile S.A.

Report Coverage: