Iodine Market Size, Share, Industry Analysis, Trends, Growth, 2032

Iodine Industry Prospective:

The global iodine market size was worth around USD 1,228.20 Million in 2023 and is predicted to grow to around USD 2,110.50 Million by 2032 with a compound annual growth rate (CAGR) of roughly 6.20% between 2024 and 2032.

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The report analyzes the global iodine market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the iodine industry. 

The report covers a forecast and an analysis of the iodine market on a global and regional level. The study provides historical information from 2024 to 2032 with a forecast from 2018 to 2024 based on both volume (Kilotons) and revenue (USD Million). The study covers the key drivers and restraints of the iodine market along with their market impact within the forecast time period. Furthermore, the study also includes the opportunities accessible within the iodine market on a global level.

In order to offer the users of this report, a comprehensive view of the iodine market, we have enclosed a detailed value chain analysis. To know the competitive landscape within the market, an analysis of Porter’s Five Forces model for the market has also been enclosed. The study includes a market attractiveness analysis, wherein all the segments are benchmarked to support by their market size, rate, and general attractiveness.

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The study also includes the market share of the key participants operating in the iodine market across the globe. Besides, the report covers strategic development together with acquisitions & mergers, agreements, partnerships, collaborations, joint ventures, and regional growth of key players within the market on a regional basis.

Iodine Market: Overview

Iodine is a chemical compound that is vital for the production of thyroid hormones, specifically triiodothyronine (T3) and thyroxine (T4). It is required for the proper functioning of the thyroid gland. In order for thyroid hormones to work properly, iodine is necessary. Iodine can be found in a variety of water sources, including oceans, water pools, and seaweeds, among other possibilities.

Iodine Market: Growth Factors

In emerging nations like China and India, where the number of people suffering from iodine deficiency is increasing, it is anticipated that the global market for iodine would experience significant increase over the course of the forecast period. On a global scale, the iodine market is anticipated to be further driven by the growing utilization of iodine in LED polarizing films and x-ray contrast media. This market's growth may be hampered in the future by the fluctuating prices of iodine, which are caused by the lack of this element. Furthermore, it is anticipated that the technological advancements that have been made in the process of extracting iodine, particularly from caliche ores and seaweed, will provide new potential for expansion to the businesses that are currently functioning in this market in the years to come.

Iodine Market: Report Scope

Iodine Market: Segmentation

The study provides a crucial view of the iodine market by segmenting the market based on type, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032. By type, the global iodine market includes natural brines, nitrite ores, and others. By application, the global iodine market includes LCD polarizers, X-ray contrast media, animal nutrition, health nutrition, fluorochemicals, pharmaceuticals, biocides, catalysts, and others. The regional classification includes Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. The regions are further divided into the U.S., UK, Germany, Canada, France, China, Japan, and Brazil, among others.

Iodine Market: Regional Analysis

In terms of geographical division, the global market for iodine may be broken down into the following regions: Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Because of the high demand for X-ray contrast media in the healthcare industry, Europe is the greatest contributor to the global iodine market and is predicted to dominate internationally throughout the forecast time period. This is due to the fact that Europe has the highest iodine demand. In the next years, it is anticipated that the market for iodine in the Middle East and Africa would achieve the position of the second largest regional market worldwide. Due to the increasing prevalence of iodine deficiency in developing nations like China and India, it is anticipated that the Asia Pacific area will record the highest compound annual growth rate (CAGR) in the years to come.

Iodine Market: Competitive Space 

The study provides exhaustive company profiles of the worldwide market along with an in-depth description of the key market players.

Some key players in the global iodine market include

• Cosayach
• Iofina
• Calibre Chemicals Pvt. Ltd.
• Glide Chem Pvt. Ltd.
• Deepwater Chemicals
• ISE Chemical Corporation
• Independent Iodine
• Itochu Chemical Frontier Corporation
• Zen Chemicals
• GODO Shigen Co. Ltd.
• Iochem Chemicals Corporation
• Eskay Iodine
• JSC Isotope
• ISR Holding Private Limited
• among others.

The report segments the global iodine market into:

Global Iodine Market: By Type Analysis

• Natural Brines
• Nitrite Ore
• Others

Global Iodine market: By Application Analysis

• LCD Polarizers
• X-ray Contrast Media
• Animal Nutrition
• Health Nutrition
• Fluorochemicals
• Pharmaceuticals
• Biocides
• Catalysts
• Others

Global Iodine Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa