Iodine is a halogen element in group seven in the periodic table. It is a sheen blue-black colored compound. Its atomic number is 53. It is present in various chemical forms including iodide, iodate, and elemental iodine. Iodine and its derivatives are derived from water pools, ocean, and seaweed and are extensively used as an intermediate in industrial chemicals and for human nutrition. The element is sourced from water bodies for instance oceans & water pools as well as from seaweed. Iodine deficiency in humans results in several health-related issues such as mental retardation, goiter, eyesight problems, and heart diseases. It is mostly used in mechanical cleansing solution, oral rehydration solution, peritoneal dialysis, and others. There are numerous applications of iodine as catalysts in x-ray contrast media, biocides, catalysts, and others.
The key benefits are included reduce the risk for some goiters, promote thyroid health, treat thyroid cancer, manage overactive thyroid gland, improving cognitive function, neurodevelopment during pregnancy, help treat fibrocystic breast disease, improving birth weight, protection from nuclear fallout, disinfecting water and treating infections. Apart from this, few of the side-effects are included nausea or vomiting, burning sensations in the throat & mouth, diarrhea, stomach pain and fever.
According to the study, “Global Iodine Market: Information by Type (Natural Brines, Nitrite Ores, Others), Application (LCD Polarizing Films, Biocides, X-ray Contrast Media, Others), and Region – Forecast Till 2023” the key companies operating in the global iodine market are Zen Chemicals, Deepwater Chemicals, Cosayach, Eskay Iodine Private Limited, GodoShigen Co. Ltd., Glide Chem Private Limited, ISE Chemicals Corporation, Iochem Corporation, ISR Holding, Iofina, JSC Isotope, Itochu Chemical Frontier Corporation, Calibre Chemicals Pvt. Ltd., Independent Iodine.
Based on source type, the iodine market is segmented into caliche ore, recycling, underground brines and seaweeds. Based on form type, the market is segmented into organic compounds, elemental & isotopes, and inorganic salts & complexes. Based on extraction process type, the market is segmented into a blow-out, carbon absorption and ion exchange. In addition, based on application, the market is segmented into x-ray contrast media, optical polarizing films, pharmaceuticals, fluoro-chemicals, and catalysts in polymer processing, animal feed, human nutrition, iodophors, and others.
The iodine market is driven by a rapid increase in the sale of LCD screens, followed by growth in need for x-ray contrast media in the healthcare industry, stringent government regulations and rise in government initiatives to eliminate iodine deficiency in humans & animals. However, toxicity associated with consumption of iodine and its derivatives and fluctuating prices of iodine due to the demand-supply gap may impact the market. Moreover, the increase in the use of iodine in formation of povidone-iodine & nylon and recycling of iodine are key opportunities for the market.
Based on geography, the European region holds a major share in the iodine market owing to increase in number of cancer patients, rise in technological advancement in the extraction process of iodine, and growth in investment in the healthcare sector in the region. The North-American and Asian-Pacific regions are estimated to witness higher growth rate due to growth in development of food industry and rise in incidence of iodine deficiency in developing countries over the forecast period. It is projected that the market will be reached at a rapid pace as a result of growth in advancements in healthcare sectors and huge chemical manufacturing industry during the forecast period.
The report covers brief analysis of geographies including:
Rest of Europe
Rest of Asia-Pacific
Rest of Latin America
Middle East & Africa
Rest of the Middle East and Africa
The global iodine market was valued at USD 778.8 million in 2017 and is projected to reach USD 1,073.7 million at CAGR of 4.89% by the end of 2023. The natural brine segment accounted for a major market share in 2018 with a value of USD 611.9 million. It is projected to register a CAGR of 5.10% during the forecast period. X-ray media contrast is the leading application with a value of USD 193.14 million in 2018; it is expected to reach USD 259.88 million by the end of 2023.
Asia-Pacific emerged as the fastest growing market with a CAGR of 6.07% and is projected to reach USD 311.2 million by 2023. Godo Shigen Co. Ltd is the leading producer of iodine.
Traders and Distributors of Iodine
Raw Material Suppliers
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Ankur Gupta, Head Marketing & Communications