Iodine Market

Market Snapshot

Revised data on the iodine market released by Persistence Market Research suggests that the industry is anticipated to experience stable growth over the next ten years. The intelligence study suggests that the iodine market will expand at a modest CAGR of 4.1% in terms of value over the decade. The market is expected to reach a valuation of approximately US$ 2 Bn by 2031. In the European region, Germany is expected to hold a market share of around 20%.

Key Points Covered in Iodine Industry Survey:

• Market estimates and forecast 2021-2031
• Key drivers and restraints impacting market growth
• Segment-wise, country-wise, and region-wise analysis
• Competition mapping and benchmarking
• Brand share and market share analysis
• Key product innovations and regulatory climate
• COVID-19 impact on iodine sales and how to navigate
• Recommendation on key winning strategies

Iodine to Record Surge in Demand

Increasing research in healthcare has spawned interest in many new elements and possible materials that can be used for treatment and diagnostics. Iodine has gained popularity as its use in the healthcare industry is being explored.

Cancer has been a matter of concern for the scientific community for quite a while, and research on the treatment for cancer has only gained impetus in recent times.

Now, there have been new scientific studies that have shown that newly designed nanoparticles containing iodine can kill cancer cells by causing DNA damage when activated by radiation. This new development can bring in revolutionary changes in the way iodine is used in the healthcare industry.

Iofina PLC has reported excellent sales of iodine and has also depicted that iodine and halogen derivative products have led to a strong demand outlook as markets reopen after the COVID-19 pandemic. Iofina produced around 249 tons of crystalline iodine in the first half of 2021, and has also announced that expansion plans are on track. The company also stated that the construction of a new facility will also be started by the end of this year.

With an increase in demand and applications, the iodine market is expected to record stable growth and generate substantial revenue over the coming years.

Market Overview

Iodine is a halogen element in group seven of the periodic table; it is blue-black in color and has a shiny luster. 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 2021–2031 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 2021 and 2031.

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.

Market Taxonomy

Persistence Market Research, in its report titled, “Iodine Market: Global Industry Analysis and Forecast, 2021-2031”, 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 North America is expected to expand at a CAGR of 3.6% in terms of value over the decade. 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 positive CAGR during the forecast period.

Market Segmentation: