Iodine is a halogen element in group seven of the periodic table; it is blue-black in colour and has a shiny lustre. The atomic number for the element is 53. Iodine and its derivatives are widely used as an intermediate in industrial chemicals and for human nutrition. The element is sourced from water bodies such as oceans and water pools as well as from seaweed. Iodine deficiency in humans results in various health-related issues such as goiter, mental retardation, heart diseases, and eyesight problems.
Drivers and Trends
The iodine market is indirectly related to the GDP of various countries across the globe due to their widespread application in human nutrition, biocides, and industrial applications. Due to a surge in the production of iodine in North America, Latin America, and APAC, the iodine market in these regions is estimated to increase at a significant CAGR over 2016–2024 in terms of revenue. With an anticipated increase in production of iodine in APAC in the next few years and prevalence of iodine deficiency in adults, demand for iodine in the region is expected to increase between 2016 and 2024. Some major factors driving the global iodine market are increasing use of iodine as X-ray contrast media and LED/LCD polarizing films as well as government initiatives to increase the use of iodine in human nutrition and animal feed additives.
Persistence Market Research, in its report titled, “Iodine Market: Global Industry Analysis and Forecast, 2016-2024”, has categorized the iodine market into key segments based on source, application, and region. On the basis of source, the global iodine market is divided into three segments: natural brines, nitrite ores, and others. On the basis of application, the global iodine market is divided into X-ray contrast media, catalysts, biocides, LED/LCD polarizing films, feed additives, human nutrition, and others. Finally, on the basis of region, the global iodine market is segmented into North America, Latin America, Europe, APAC, and MEA.
Analysis, by Region
The iodine market in APAC is expected to expand at a CAGR of 9.0% in terms of revenue during the forecast period. The region is expected to account for volume share of around 25.9% of the global iodine market by the end of the 2024. In terms of value, North America is expected to account for a major value share of the global iodine market during the forecast period.
Analysis, by Source
By source, nitrite ores segment in the global iodine market is slated to expand at the fastest CAGR during the forecast period in terms of volume. Growth of this segment is primarily driven by increase in extraction of iodine from caliche ores in Latin America and APAC. In terms of market value, natural brines segment is expected to expand at a CAGR of 5.5% during the forecast period.
This Persistence Market Research report examines the global iodine market for the forecast period 2016–2024. The primary objective of the report is to identify opportunities in the market and present updates and insights pertaining to various segments of the global iodine market.
Iodine is a halogen element in group seven of the periodic table, with atomic number 53; it is blue-black in colour and has a shiny lustre. Iodine and its derivatives are widely used as an intermediate in industrial chemicals and for human nutrition. The element is sourced from water bodies such as oceans and water pools as well as from seaweed. Iodine deficiency in humans results in various health-related issues such as goiter, mental retardation, heart diseases, and eyesight problems.
To understand and assess opportunities in this market, the report is categorically divided into three main market analysis sections, i.e., by source, by application, and by region. The report analyses the global iodine market in terms of market value (US$ Mn) and volume (tons).
The report begins with an overview of the global iodine market, appraising the market performance in terms of revenue and volume, followed by PMR’s analysis of key trends, drivers, and restraints witnessed in the global iodine market. Impact analysis of key growth drivers and restraints based on the weighted average model are also included in the report to equip the client with crystal-clear, decision-making insights.
The subsequent section analyses the iodine market as per product type, and presents a forecast for the period 2016?2024.
Source assessed in the report are:
The report further analyses the market based on region and presents the forecast in terms of value for the next eight years.
Region assessed in the report are:
The report further analyses the market based on application and presents the forecast in terms of value and volume for the next eight years.
To calculate market size, the report considers various aspects based on secondary research. Furthermore, data points such as split by region and market split by application and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated by the global iodine market between 2016 and 2024.
When developing the market forecast, the starting point begins with sizing up the current market, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, PMR triangulates the data via different analysis based on the supply side, demand side, and dynamics of the iodine market. However, quantifying the market across the above-mentioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating economy scenario, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities.
Another key feature of this report is the analysis of iodine market by region, source and application, and the corresponding revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective, in the global iodine market.
To understand key segments in terms of their growth and performance in the iodine market, Persistence Market Research has developed a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global iodine market.
In the final section of the report, the iodine market competitive landscape is included to provide a dashboard view of companies that manufacture and supply iodine. The report contains company profiles of some of the major players operating in the global iodine market.
Some of the market players featured in this report include: