Iodine Market Size to Surpass 6.5 Billion by 2031, Recording a Re CAGR of 9%, Predicts Fairfield Market Research

Anticipated to be Driven by the Increasing Demand from Various End-Use Industries, and Expanding Industrial Applications, Global Iodine Market is Expected to Grow at Substantial Rate

London, April 16, 2024 (GLOBE NEWSWIRE) — Global iodine market size is likely to to reach US$6.7 billion by 2031 from the value of US$3.6 billion obtained in 2024. The market is estimated to advance at a CAGR of 9% between 2024 and 2030. This growth is mainly fueled by increased demand for iodine in various applications.

Iodine is a chemical element essential for human health and various industrial applications. It is primarily used in the production of iodized salt for dietary supplementation to prevent iodine deficiency disorders.

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REPORT SCOPE

Report Attributes Details
Base Year 2023  
Forecast Year 2024 – 2031
Market Size in 2024 US$3.6 Bn
Estimated Market Size in 2031 US$6.7 Bn
CAGR 9%  
Growth Drivers
  • Increasing Demand from Various End-use Industries
  • Increasing Awareness of the Importance of Iodine
  • Emerging Market Opportunities in Developing Regions
Segmentation
  • By Source Type (Natural Brines, Nitrite Ores)
  • By Application (X-ray Contrast Media, Catalysts, Biocides, LED/LCD Polarizing Films, Feed Additives, Human Nutrition, Others)
Regional Coverage
  • North America (US, Canada)
  • Europe (Germany, UK, France, Italy, Turkey, Russia, Rest of Europe)
  • Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • The Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)

The global iodine market has experienced steady growth over the years, driven by increasing demand from various end-use industries. The iodine market plays a vital role in various industries, including healthcare, pharmaceuticals, nutrition, and industrial manufacturing.

Increasing awareness of the importance of iodine for thyroid health and overall well-being drives demand for iodine supplements and pharmaceutical applications. Growing global population increases the demand for iodized salt and other iodine-containing products, particularly in regions with high prevalence of iodine deficiency.

Asia Pacific particularly China and India, is a significant consumer and producer of iodine. Rapid industrialization, population growth, and government initiatives to combat iodine deficiency drive market growth in this region.

The iodine market is expected to continue growing, driven by increasing healthcare awareness, population growth, and industrial applications. Technological advancements, regulatory mandates, and emerging market opportunities in developing regions will shape the future trajectory of the iodine market.

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Key Research Insights

  • Asia Pacific emerges as a powerhouse in the iodine market.
  • North America, led by the United States, commands a significant share in the iodine market.
  • The x-Ray contrast media segment accounted for the substantial market share in the iodine market in terms of application.

Insights into Segmentation Analysis

The Pharmaceutical Sector Continues to be a Key Consumer of Iodine

  • The pharmaceutical sector continues to be a key consumer of iodine, particularly in the production of antiseptics, disinfectants, and thyroid-related medications.
  • With the increasing prevalence of thyroid disorders globally and advancements in pharmaceutical formulations, the demand for iodine in this segment remains strong.

The X-Ray Contrast Media Segment Recorded Notable Share in the Iodine Market

  • The x-Ray contrast media segment accounted for the significant iodine market share in terms of application.
  • Latest advances in the technologies relating to the medical history united with development in nuclear medical techniques are influencing the demand for iodine in this application.

Key Report Highlights

  • Expanding industrial sectors, particularly in emerging economies, drive demand for iodine in electronics, chemicals.
  • Rising health awareness and increasing demand from various end-use industries are the key drivers for market growth.
  • Growing global population increases the demand for iodized salt and other iodine-containing products

Insights into Regional Analysis

Asia Pacific Stands Out as a Powerhouse in the Iodine Market

  • Asia Pacific emerges as a powerhouse in the iodine market, fueled by nations like Japan, and China.
  • Rapid industrialization, population growth, and government initiatives to combat iodine deficiency drive market growth in this region.
  • Robust demand across sectors such as pharmaceuticals, electronics, and nutrition propels growth, underlining the region’s pivotal role in shaping global iodine dynamics.

North America Commands a Significant Share in the Iodine Market

  • North America, led by the United States, commands a significant share in the iodine market.
  • Dynamic applications in healthcare and pharmaceuticals drive growth, with iodine’s versatile use in X-ray contrast media and nutritional supplements shaping the region’s market landscape.
  • Market growth is driven by technological advancements, healthcare expenditure, and regulatory compliance.

Key Companies Profiled in the Global Iodine Market

  • Algorta Norte S.A
  • ISE Chemicals Corporation
  • Kanto Natural Gas Development Co., Ltd
  • ISR Holding
  • k&o iodine co. ltd
  • Iofina Chemical, Inc.
  • Godo Shigen Co., Ltd
  • Sociedad Química y Minera (SQM)
  • Nippoh Chemicals Co., Ltd
  • Salvi Chemicals Industries Ltd
  • Iochem Corporation
  • Qingdao Bright Moon Seaweed Group Co.,Ltd.
  • Toho Earthtech Co., Ltd
  • ACF Minera S.A
  • Deepwater Chemicals
  • Kansar khazar co
  • Agh Altin Chem Co.
  • GODO SHIGEN Co., Ltd.

Global Iodine Industry Analysis, Size, Share, Growth, Trends and Forecast 2024-2031 – (By Source Coverage, By Application Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/iodine-market

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Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

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