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Iodine Insights: Unveiling the Future of Global and Regional High-Purity Iodines Industry

05-25-2023 02:37 PM CET | Associations & Organizations

Press release from: Analytics Market Research

Global High-Purity Iodines Market

Global High-Purity Iodines Market

The global iodine market size was USD 915.9 million in 2019 and is projected to reach USD 1,283 million by 2032, growing at a CAGR of 4.4% during the forecast period.

Iodine is a shiny purple-black element. It is a stable halogen that is used in a wide range of applications from catalysts in polymer manufacturing to additives in animal feeds. Iodine is in huge demand worldwide and is used in applications such as polarizing films and X-ray contrast agents. Growing health concerns in the aging population coupled with growing awareness of iodine deficiency are the major drivers of the market. Efforts by non-governmental organizations and WHO guidelines to minimize talent shortages in economically underdeveloped countries further support market growth.

Big companies like IOCHEM and United Resources are investing heavily in building recycling plants. Recycling is considered important due to the scarcity and limited availability of resources. Industries such as pharmaceuticals, pesticides, salts and specialty chemicals are major contributors to the waste stream. By-products and spent materials containing iodine are processed to achieve a purity of 99.3% or higher. The recycling of this product is both environmentally and economically imperative as it increases the availability of scarce and finite resources.

Increased consumer awareness of shortages in developing countries will have a positive impact on the market. It regulates hormone levels in humans and is responsible for the healthy functioning of the thyroid gland. It also plays an important role in fetal neurological development. Growing interest in human health in developing countries leads to market growth and forecasts. Additionally, efforts by governments and non-governmental organizations to make it part of the diet of economically vulnerable populations will also support market growth. In addition, increasing use of optical polarizing films in LCD applications is also expected to contribute to increased demand.

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Market Segmentation:

Application-Based Segmentation:
a. X-ray Contrast Media: This segment includes high-purity iodines used in the production of X-ray contrast media for medical imaging purposes.
b. Pharmaceuticals: High-purity iodines used as raw materials in the manufacturing of pharmaceutical products, such as iodine supplements or iodine-based drugs.
c. Catalysts: This segment includes high-purity iodines used as catalysts in various chemical reactions or processes.
d. Biocides: High-purity iodines utilized as biocides or disinfectants in industries like healthcare, water treatment, or agriculture.
e. Optical Polarizing Films: High-purity iodines used in the production of optical polarizing films for applications in LCD screens or other optical devices.
f. Others: Other niche applications of high-purity iodines that may include laboratory research, electronics, or dyes.

End-Use Industry-Based Segmentation:
a. Healthcare and Pharmaceutical Industry: This segment comprises high-purity iodine users in the healthcare and pharmaceutical sectors, including hospitals, clinics, and pharmaceutical manufacturers.

b. Chemical Industry: High-purity iodines utilized by chemical manufacturers for various chemical processes, including catalysts, organic synthesis, or laboratory research.

c. Electronics Industry: This segment includes high-purity iodine users in the electronics industry for applications such as LCD screens, semiconductors, or electronic components.

d. Water Treatment Industry:
High-purity iodines used in water treatment processes, particularly for disinfection purposes. e. Agriculture and Animal Feed Industry: This segment comprises high-purity iodine users in the agricultural and animal feed sectors for iodine supplementation in animal feed or crop protection. f. Others: Other industries that use high-purity iodines in specialized applications, such as research laboratories or dye manufacturing.

Geographical Segmentation: a. North America: Including countries like the United States and Canada. b. Europe: Including countries like Germany, France, the United Kingdom, and Italy. c. Asia Pacific: Including countries like China, Japan, India, and South Korea. d. Latin America: Including countries like Brazil, Mexico, and Argentina. e. Middle East and Africa: Including countries like Saudi Arabia, South Africa, and the United Arab Emirates.

Following are Top Key players Covered in Report:
SQM (Sociedad Química y Minera de Chile): SQM is a Chilean company that produces and markets specialty chemicals, including high-purity iodine. They are one of the largest producers of iodine globally.

IOCHEM Corporation: IOCHEM is a leading supplier of high-purity iodine and iodine derivatives. They provide products for various industries, including pharmaceuticals, electronics, and catalysts.

Iofina plc: Iofina is a UK-based company focused on the exploration and production of iodine and iodine derivatives. They have iodine production facilities in the United States and are known for their environmentally friendly extraction processes.

Cosayach Compañía de Salitre y Yodo: Cosayach is a Chilean company engaged in the production and commercialization of iodine and iodine derivatives. They have a significant presence in the global high-purity iodines market.

Godo Shigen Co., Ltd.: Godo Shigen is a Japanese company that specializes in the production and distribution of high-purity iodine and iodine compounds. They supply iodine products to various industries, including healthcare, electronics, and chemicals.

Independent Iodine Company LLC: Independent Iodine Company is a US-based supplier of high-purity iodine products. They focus on providing iodine for applications in pharmaceuticals, agriculture, and industrial processes.

ISE Chemicals Corporation: ISE Chemicals is a South Korean company that manufactures and supplies high-purity iodine products. They cater to industries such as electronics, semiconductors, and photoelectric devices.

Deepwater Chemicals, Inc.: Deepwater Chemicals is a US-based manufacturer of iodine and iodine derivatives. They produce high-purity iodine products for use in various applications, including X-ray contrast media, biocides, and pharmaceuticals.

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 Regional Analysis:
North America:
The North American market is expected to have a significant share in the global high-purity iodine market. This can be attributed to the presence of major iodine producers and consumers in the region, particularly in the United States and Canada.
The demand for high-purity iodine is driven by its application in various industries such as pharmaceuticals, electronics, and chemical manufacturing.
The stringent regulations regarding the quality and purity of iodine products in North America also contribute to the growth of the high-purity iodine market in the region.

Europe is another prominent market for high-purity iodine due to the presence of well-established pharmaceutical and chemical industries.
Countries like Germany, France, and the United Kingdom are major consumers of high-purity iodine in the region.
The increasing focus on sustainable and environmentally friendly iodine production methods, such as the extraction of iodine from seaweed, is likely to impact the market in Europe.

Asia Pacific:
The Asia Pacific region is expected to witness significant growth in the high-purity iodine market. Countries like China, Japan, and India are major consumers of iodine in various industries.
The expanding pharmaceutical and healthcare sectors, coupled with the growth of electronics manufacturing, drive the demand for high-purity iodine in the region.
China is the largest producer of iodine globally and plays a crucial role in the supply and demand dynamics of the high-purity iodine market in Asia Pacific.

Latin America:
Latin America is a growing market for high-purity iodine, primarily driven by the increasing use of iodine in pharmaceutical applications.
Countries like Brazil, Argentina, and Mexico are witnessing growth in the healthcare and pharmaceutical sectors, leading to higher demand for high-purity iodine.

Middle East and Africa:
The Middle East and Africa region have a relatively smaller market share in the global high-purity iodine market.
However, the region is witnessing growth in iodine consumption due to the expanding healthcare and pharmaceutical industries.
South Africa and Saudi Arabia are among the key markets for high-purity iodine in this region.

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Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support

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Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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