Iodine Market by Source (Caliche Ore, Underground Brines), Form(organic compounds, Inorganic Salts, Elemental & Isotopes), Application(X-ray contrast media, Pharmaceuticals, Optical Polarizing Films), and Region - Global Forecast to 2022
“Increasing use of iodine in optical polarizing films in LCD, growing iodine deficiency in developing countries, and use in versatile applications is driving the growth of the iodine market.”
The global iodine market is estimated at USD 832.1 million in 2017 and is projected to reach USD 1,041.0 million by 2022, at a CAGR of 4.58% between 2017 and 2022. The market is witnessing growth due to the increasing use of iodine in optical polarizing films in LCD applications. Growing deficiency of iodine in developing countries and versatile applications of iodine such as in X-ray contrast media, fluorinated derivatives, and photography are some of the factors driving the market for iodine. Recycling of iodine offers lucrative opportunities for the growth of the iodine market. Toxicity associated with consumption of iodine and its derivatives is a major factor restraining the growth of the market. Furthermore, fluctuation in the iodine prices arising due to the demand-supply gap is challenging the growth of the global iodine market globally.
“Recycling: The fastest-growing segment of the iodine market, by source”
Recycling is estimated to be the fastest-growing segment of the iodine market during the forecast period (2017-2022). Recycling of iodine ensures its sustainable consumption, once all its sources are exhausted. Furthermore, recycling saves the costs which are incurred while extracting fresh iodine from other sources. It also complies with several environmental regulations associated with disposal of inorganic waste. Therefore, these factors are responsible for high growth in recycling of iodine in the near future.
“Organic compounds: The fastest-growing segment of the iodine market, by form”
Organic compounds is estimated to be the fastest-growing type segment of the iodine market during the forecast period (2017-2022). The widespread use of organic compounds of iodine as intermediate reagents in applications such as pharmaceutical formulations, pesticides, biocides, and dyes & pigments is responsible for its rapid growth rate.
“Optical Polarizing films: The fastest-growing segment of the iodine market, by application”
Optical polarizing films is estimated to be the fastest-growing application segment of the iodine market during the forecast period. The increase in use of smartphones and the Internet has boosted the consumption of consumer electronic products in the past decade. The growth of optical polarizing films segment is mainly attributed to technological advancements in the field of display panels, thus expected to drive iodine market.
“Asia Pacific: The fastest-growing market for iodine, by region”
The Asia Pacific region is estimated to be the fastest-growing market for iodine during the forecast period. The growth of the iodine market in Asia Pacific is because the region has favorable and cost-effective manufacturing environment, which facilitates increase in the display panel manufacturing capability of the electronics & telecommunication industry. This provides strong incentives to smartphone vendors as well as TV and smart wearable device manufacturers to increase the adoption of LCD, thus bolstering the use of iodine in optical polarizing films in the region. Increasing awareness regarding the consumption of iodine in human and animal feed, large chemical manufacturing sector, and advancements in healthcare facilities are some of the factors responsible for the high growth rate of the iodine market in the Asia Pacific region.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided into three categories, namely, by company, by designation, and by region.
• By Company Type: Tier 1 - 50%, Tier 2 - 33%, and Tier 3 - 17%
• By Designation: C Level - 17%, Director Level - 33%, and Others - 50%
• By Region: North America - 25%, Asia Pacific - 50%, and Europe - 25%
The report also provides company profiles and competitive strategies adopted by major market players, such as Sociedad Química y Minera (Chile), Iofina (UK), ISE Chemicals Corporation (Japan), IOCHEM Corporation (US), Compañía de Salitre y Yodo (Chile), Algorta Norte SA (Chile), Nippoh Chemicals Co., Ltd (Japan), Kanto Natural Gas Development Co., Ltd (Japan), Toho Earthtech Co., Ltd (Japan), and Godo Shigen Co., Ltd (Japan), among others.
The report covers the iodine market and its applications across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments, such as source, form, application, and region. The report also includes an in-depth competitive analysis of the key market players along with their company profiles.
Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends) and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the iodine market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on iodine offered by the top players in the global iodine market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the global iodine market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for iodine across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global iodine market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the global iodine market