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The global iodine market was valued at US$ 897.2 Million in 2021.
We expect the global iodine market to exhibit a CAGR of 5.40% during 2022-2027.
The growing awareness towards consuming iodine in food products to avoid the risk of I2 deficiency disorders that may lead to mental retardation, hypothyroidism, goiter, etc., is primarily driving the global iodine market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in various production activities for iodine.
Based on the source, the global iodine market can be segmented into underground brine, caliche ore, recycling, and seaweeds. Currently, caliche ore holds the majority of the total market share.
Based on the form, the global iodine market has been divided into inorganic salts and complexes, organic compounds, and elementals and isotopes. Among these, organic compounds exhibit a clear dominance in the market.
Based on the application, the global iodine market can be categorized into animal feed, x-ray contrast media, biocides, optical polarizing films, fluorochemicals, nylon, and others. Currently, x-ray contrast media accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global iodine market include 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.
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