Healthcare Imaging and Electronics Fuel Global Iodine Market Growth Toward 58.8 Kilotons by 2031 |Mordor Intelligence

According to Mordor Intelligence, Iodine Market Size, Share & Trends Forecast 2026-2031," offers an in-depth analysis of the regional dynamics shaping this rapidly evolving industry.

The global iodine market is set to grow from 45.19 kilotons in 2026 to 58.8 kilotons by 2031, at a 5.41% CAGR, driven by rising demand across healthcare, electronics, agriculture, and specialty chemicals.

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Iodine remains indispensable in several applications, ranging from X-ray and CT contrast media to LCD and OLED polarizing films, animal feed supplements, and disinfectants. Its unique chemical properties and limited substitutes make it a critical raw material in both industrial and medical sectors. Asia-Pacific continues to dominate consumption, supported by China's electronics manufacturing and India's expanding diagnostic capacity.

Developing Trends in the Iodine Industry

Rising Demand in Medical Imaging

Medical imaging is the largest consumer of iodine, accounting for nearly half of global demand. The increasing number of diagnostic procedures, particularly CT scans and X-rays, has strengthened iodine's role in contrast media. Hospitals worldwide are securing long-term supply contracts to mitigate price volatility, ensuring stable demand growth.

Nutritional and Deficiency Concerns

Despite widespread salt iodization programs, iodine deficiency persists in certain populations, especially among pregnant and lactating women. This has led to growing demand for pharmaceutical-grade iodates and fortified food products. Controlled-release fertilizers and biofortified crops are also being developed to address nutritional gaps, adding new dimensions to iodine consumption.

Expanding Electronics Sector

Iodine-based polarizer films remain essential for LCD and OLED displays. Manufacturing hubs in East Asia, including China and South Korea, continue to drive demand. Recycling initiatives for polarizer films are underway, but primary iodine supply remains critical to meet the needs of the electronics industry.

Agricultural Applications

Iodine is widely used in livestock disinfectants and feed additives. Povidone-iodine solutions are a standard hygiene measure in dairy farming, while ethylenediamine dihydroiodide (EDDI) improves feed conversion ratios. These applications provide steady year-round demand, balancing seasonal fluctuations in other sectors.

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Iodine Market Segmentation

The iodine market is segmented across sources, forms, and end-user industries:

By Source

Caliche Ore: Accounts for over 50% of supply but faces challenges due to water usage and cost pressures in Chile.

Underground Brine: Fastest-growing source, expanding at a 5.55% CAGR, leveraging oil and gas infrastructure.

Seaweed: Serves niche nutraceutical markets with limited output.

Recycling: Emerging segment, particularly in electronics, with potential to meet high-purity demand.

By Form

Organic Compounds: Dominant segment, representing 48.12% of demand, driven by pharmaceuticals and antiseptics.

Inorganic Salts and Complexes: Growing at 5.63% CAGR, used in electronics and specialty polymers.

Elemental Iodine and Isotopes: Smaller but strategically important for nuclear medicine and high-purity applications.

By End-User Industry

Medical: Largest and fastest-growing segment, accounting for 46.88% of demand.

Electronics: LCD and OLED polarizers drive significant consumption in Asia-Pacific.

Agriculture: Includes animal feed additives and disinfectants.
Other Industries: Specialty chemicals, nylon stabilizers, and fluorochemicals contribute additional demand.

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Iodine Key Players

SQM - A leading producer from Chile, with extensive caliche ore operations.

Cosayach - Another Chilean supplier with strong export capabilities.

Iofina plc - Based in the United States, specializing in brine extraction linked to oil fields.

ISE Chemicals Corporation - A Japanese company with diversified iodine production.

Algorta Norte - Focused on caliche ore extraction and global distribution.
Conclusion:

Asia-Pacific will continue to lead consumption, driven by healthcare expansion and electronics manufacturing.

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This release was published on openPR.