IMARC Group, a leading market research company, has recently releases report titled “Iodine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global iodine market trends, share, size and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Iodine Market?
The global iodine market size reached US$ 947.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,309.0 Million by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.
Iodine (I2) is a vital trace element found in various natural sources, such as dairy products, seafood, seaweed, eggs, and vegetables. It plays a crucial role in producing thyroid hormones like thyroxine (T4) and triiodothyronine (T3), which help regulate metabolism and increase protein production. It offers numerous benefits for treating mammary dysplasia and fibrocystic breast disease. As a result, iodine is gaining immense traction across the globe as more and more people are incorporating iodine-rich food items into their diets.
What are the growth prospects and trends in the iodine industry?
The global iodine market is primarily driven by the rising number of individuals affected by iodine deficiency disorders, including mental retardation, hypothyroidism, goiter, cretinism, and a range of other growth and developmental problems. Additionally, several international health organizations are promoting the use of iodized salt in households and food processing facilities.
In line with this, rapid expansion in the pharmaceutical industry is positively influencing market growth. Moreover, the rising use of iodine as a disinfectant in various applications, including cleaning surfaces, storage containers, skin soaps and bandages, and purifying water, has augmented the product demand.
Furthermore, the escalating demand for iodine in X-ray imaging modalities, such as computed tomography (CT), is contributing to the market growth. Other factors, including rising health awareness among individuals, escalating demand for biocides, and rapid growth in the healthcare sector, are also anticipated to create a positive market outlook.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Source:
- Underground Brine
- Caliche Ore
Breakup by Form:
- Inorganic Salts and Complexes
- Organic Compounds
- Elementals and Isotopes
Breakup by Application:
- Animal Feed
- X-Ray Contrast Media
- Optical Polarizing Films
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Algorta Norte Sa, Calibre Chemicals Pvt. Ltd., Deepwater Chemicals Inc. (Toyota Tsusho Corporation), Eskay Iodine Pvt. Ltd., GODO SHIGEN Co. Ltd., Iochem Corporation, Iofina plc, Ise Chemicals Corporation (AGC Inc.), Nippoh Chemicals Co. Ltd., Protochem Industries Pvt. Ltd., Salvi Chemical Industries Ltd. and Sociedad Quimica y Minera de Chile S.A.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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