Pune, India, May 15, 2019 (GLOBE NEWSWIRE) -- Global Iodine Market Overview
The Global Iodine Market can reach to a valuation of USD 1,073.7 million by 2023, displaying a stupendous CAGR of 4.89% during the forecast period (2018-2023). The market demand is touted to reach a high of 44,1471.1 tons by 2023.
Iodine is an element with multiple uses across numerous industries. From being used in the medical sector in treating cancer to being used as a catalyst in the chemical sector, Iodine is multi-faceted.
The sharp rise in Iodine deficiency cases is slated to work in favor the market. Government campaigns aimed at creating awareness of thyroid and Iodine deficiency disorders can work wonders for manufacturers leading to a spike in demand. The need for X-ray contrast agents for discerning the presence of diseases such as cancer, diabetes, and others is the primary driver of the market. The clarity it provides to images of internal organs is likely to work favorably for the market. The Iodine Market can bank on the production of LCDs to attain a constant state of demand. Iodine is being used in polarizers to provide users with the right viewing environment. The stress placed on TV or display manufacturers can work in the advantage of Iodine manufacturers.
Adverse effects of Iodine can negatively impact market growth.
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Competitive Analysis:
Key Players involved in the market are Godo Shigen Co. Ltd, Independent Iodine, Itochu Chemical Frontier Corporation, Deepwater Chemicals, Iochem Chemicals Corporation, Zen Chemicals, Calibre Chemicals Pvt. Ltd., Glide Chem Pvt. Ltd., ISE Chemical Corporation, and Iofina. The Iodine Market is engulfed with expansions, collaborations, mergers, and acquisitions.
Industry Trends:
Iodine Recycling is on the uptick due to concerns of producers regarding reserves of the element. Various companies have entered the recycling sector to extract iodine from end-use products, while others have integrated it into their production cycle to save on manufacturing costs. A prime example is the Godo Shigen Company which relies on its patented high-temperature decomposition method to attain aqueous solutions of iodine.
Segmentation:
Based on Type, the Iodine Market can be segmented into natural brine, nitrite ore, and others. The natural brine segment accounted for over 72.10% market share in 2017. It can touch a value of USD 784.6 million by 2023 by exhibiting a CAGR of 5.10% over the forecast phase.
Application-Wise Segmentation of the Iodine Market includes animal nutrition, human nutrition, X-ray contrast media, biocides, pharmaceuticals, catalysts, fluorochemicals, LCD polarizing films, and others. Among applications, X-ray media held the highest share in the market in 2017 due to the need for X-rays in discerning the presence of injured bones. It can achieve a valuation of USD 259.88 million by 2023. On the other hand, the biocides application can command a high demand due to the preference of iodine-based alternatives in preservatives. The animal nutrition segment can create high returns for the market due to its high demand in livestock farming. This is exemplified by the use of iodine tablets provided to cattle before pregnancy in order to avoid complications.
Browse the market data and information spread across 100 pages with 174 data tables and 16 figures of the report “Iodine Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/iodine-market-6424
Regional Segmentation:
Geographical mapping of the Iodine Market covers namely North America, Asia Pacific (APAC), Europe, Latin America (LATAM), and the Middle East & Africa (MEA).
The Europe region is expected to be the prime destination of investment for the Iodine Market. This can be credited to awareness campaigns of iodine deficiency and mandatory consumption of iodized salts. Advances in medical diagnostic techniques and improved healthcare infrastructure designed to identify diseases at a preventive stage can work favorably for the market. It is touted to reach a size of USD 335.4 million by the end of the forecast period.
The North America Iodine Market can reach a value of USD 214.1 million by 2023 due to drivers similar to Europe. Iodine extraction is in full swing due to access of producers to natural brines. For instance, Anson Resources has gained permission for extraction of the element in Utah, U.S. The success of assays and tests could culminate in more than 75% drawing out of iodine.
The APAC region is projected a valuation of USD 311.2 million by 2023, displaying a CAGR of 6.07% over the assessment period. Emerging economies of China and India and supportive healthcare policies can transform the regional scenario making it ripe for investment.
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