Global Iodine Market Scope Report

Global Iodine Market Highlights Over 2023 - 2035

The global iodine market is estimated to garner a revenue of ~USD 1 billion by the end of 2035 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 897 million in the year 2022. The prevalence of iodine deficiency disorders (IDD) worldwide, as a result of poor dietary intake of iodine, is the primary factor driving the development of the global iodine market. Iodine is present only in a few food products making it inaccessible to a majority of the world’s population. It is estimated that globally close to 2 million people suffer from IDD.

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Geographically, IDD is common among inhabitants of regions of high altitudes or islands as their diet is deficient in seafood and dairy products. Additionally, the exclusion of iodine in common salt in some parts of the world leads to IDD and a greater iodine demand.

Global Iodine Market: Growth Drivers and Challenges

Growth Drivers

• Wide Use of Iodized salt – It has been observed that more than 89% of the world’s population consumes iodized salt. Iodine, which is found in food, including seafood, eggs, dairy products, and grains, is a trace mineral that is essential for health. Like all trace minerals, only a little iodine is enough to stay healthy. However, the disproportionate distribution of food materials such as seafood should lead to several health complications. To prevent this and ensure the intake of the correct amount of iodine, it is added to salt, which is used for seasoning worldwide.

• Considerable Increase in Healthcare Spending – The healthcare expense in the United States (U.S.) increased by ~10% to surpass USD 4 trillion in 2020.

• Fresh Surge in the Demand for Cleaning Products – Since the beginning of COVID-19, the total volume of sanitizers and other cleaning products sold in the U.S. amounts to 8 million units.

• High Demand for Liquid-crystal Display (LCD) Panels – For the first time in the industry, the total units of large thin-film transistor (TFT) LCD shipped surpassed 900 million units amounting to ~963 million units in 2021.

Challenges

• Toxicity of Iodine and the Related Symptoms in the Body

• Illegal Use of Iodine in the Preparation of Crystal Methamphetamine

• Decline in the Manufacturing in the End-user Industries

The global iodine market is segmented and analyzed for demand and supply by application into animal feeds, medical, biocides, optical polarizing films, fluorochemicals, nylon, and others. The various daily application of iodine in medicine contributes to the increase of iodine demand in the segment. The typical use of iodine in the medical field is in the medication for overactive thyroid. But equally important is its application in procedures, including radiography and computed tomography scans (CT scans). Iodine-based contrast materials are used intravenously to enhance CT and X-ray images. Hence the wide use of these procedures is thought to result in segmental growth. Almost 4 billion diagnostic X-ray examinations are estimated to be performed annually worldwide.

Global Iodine Market Regional Synopsis

Regionally, the global iodine market is studied into five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North American region is projected to hold the largest market share by the end of 2035. Iodine demand in the region is predicted to grow in tandem with the growth of healthcare and the increasing aged population, and the significant role the U.S. plays as a prominent producer of animal feed to meet the demands in its livestock industry. It is estimated that the U.S. produces ~845 million tons of animal feed yearly in its over 5700 feed manufacturing facilities.

Market Segmentation

Our in-depth analysis of the global iodine market includes the following segments:

Key Companies Dominating the Global Iodine Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global iodine market that are included in our report are Algorta Norte S.A., Calibre Chemicals Pvt. Ltd., Deepwater Chemicals, Inc., Eskay Iodine Pvt. Ltd., GODO SHIGEN Co., Ltd., Iochem Corporation, Iofina plc, ISE CHEMICALS CORPORATION, Nippoh Chemicals Co., Ltd., Salvi Chemical Industries Ltd., and others.

Global Iodine Market: Latest Developments

• October, 2022: Iofina plc announced the execution of agreements with a new partner in brine supply to build its IOsorb iodine plant in Western Oklahoma.

• September, 2022: Calibre Chemicals Pvt. Ltd. announced entering into an agreement for a 100% shareholding acquisition of Evonik’s RheinPerChemie GmbH (RPC).

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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