Global Iodine Market size is forecast to reach US$1.3 billion by 2027, after growing at a CAGR of 4.3% during the forecast period 2022-2027. Iodine is a nonmetallic halogen element that is an essential mineral nutrient in the human diet and is used especially in medicine, photography, and analytical chemistry. At standard conditions, it is a lustrous, purple-black, non-metallic solid that easily dissolves with gentle heat. The Global Iodine Market is growing due to its high usage in the applications such as dyestuffs, fluorochemicals, photography, water treatment, and more. The increasing demand in X-ray contrast media, growing iodine deficiency among people, and vast applications of iodine derivatives such as hydrazine and carbon tetraiodide are likely to drive the demand for iodine. However, the toxicity and health-related issues of iodine, are projected to restrict its market growth during the forecast period.
Competitive Landscape :
The top 5 players in the Iodine Industry are –
1. Sociedad Química y Minera
2. Iofina PLC
3. ISE Chemicals Corporation
4. IOCHEM Corporation (US)
5. Compañía de Salitre y Yodo
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Segmental Analysis :
1. The radioactive tracer segment held the largest share in the Global Iodine Market in 2021 and is forecasted to grow at a CAGR of 4.8% during the forecast period 2022-2027.
2. The medical & pharmaceutical segment held the largest share in the Global Iodine Market in 2021 and is forecasted to grow at a CAGR of 6.2% during the forecast period 2022-2027.
3. Europe region held the largest share in the Global Iodine Market in 2021 up to 38%. Increasing expenditure on healthcare systems by the governments has contributed to the growing demand for iodine in the region.
Inorganic Salts & Complexes, Organic Compounds, and Elemental & Isotopes
Optical Polarizing Films, Catalyst & Regents, Photographic Chemicals, Animal Feeds, Fluorochemicals
North America, Europe, Asia-Pacific, South America and Rest of World
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Market Drivers and Challenges :
1. Increasing Prevalence of Cancer: CT scans and X-rays can reveal the shape, size, and location of a tumor. They can even show the blood vessels that nourish the tumor without cutting the patient.
2. Rapid Increase in the Production of LCD Screens: To increase the visibility created on LCDs, polarising films containing iodine are used. Adsorbing iodine onto a stretched polyvinyl alcohol surface produces the polarising sheets used in LCDs.
3. Health Risks Associated with Iodine: Patients with specific risk factors, such as those with pre-existing thyroid disease, the elderly, fetuses, and neonates, can develop subclinical or overt thyroid dysfunction as a result of iodine excess.
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