New York, NY, Jan. 14, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Iodine Market by Type (Natural Brines, Nitrite Ores, and Others) and by Application (LCD Polarizers, X-Ray Contrast Media, Animal Nutrition, Health Nutrition, Fluorochemicals, Pharmaceuticals, Biocides, Catalysts, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024”. According to the report, the global iodine market was valued at USD 833 million in 2017 and is expected to reach USD 1,136 million by 2024, at a CAGR of 4.53% between 2018 and 2024.
Iodine is an essential chemical compound that is necessary for the synthesis of thyroid hormones, i.e., triiodothyronine (T3) and thyroxine (T4). Iodine controls the functioning of thyroid hormones. Generally, iodine is found in water bodies, such as oceans, water pools, and seaweeds.
Browse through 71 Tables & 40 Figures spread over 110 Pages and in-depth TOC on “Global Iodine Market: Industry Size, Share, Demand, Growth, Analysis and Forecast 2018—2024”.
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The global iodine market is predicted to witness substantial growth over the forecast time period, owing to the growing number of iodine deficient patients in developing countries, such as China and India. The increasing use of iodine in LED polarizing films and x-ray contrast media is expected to further drive the iodine market globally. However, fluctuating iodine prices due to its shortage might hamper this market’s growth in the future. Nevertheless, the technological advancement in the extraction process of iodine, especially from caliche ores and seaweed, is expected to offer new growth opportunities to the players operating in this market in the upcoming years.
The global iodine market can be classified on the basis of type, application, and regions. Based on the type, the iodine market is fragmented into natural brines, nitrite ores, and others. Nitrite ores are widely used to extract iodine and expected to be the fastest growing segment in the future. Additionally, natural brines are projected to hold a considerable market share in the upcoming years. The application segment of the iodine market includes X-ray contrast media, LCD polarizers, health nutrition, animal nutrition, pharmaceuticals, fluorochemicals, catalysts, biocides, and other applications. X-ray contrast media is likely to dominate the market in the near future. In addition to this, the demand for iodine in pharmaceutical and animal and human nutrition application is likely to grow significantly in the next few years.
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By region, the global iodine market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Europe is the leading regional market and accounted for the largest market share, in 2017. The number of cancer patients in France is increasing rapidly and the German government is constantly investing in the healthcare sector, which is expected to increase the consumption of iodine in X-ray contrast media. Therefore, these factors are projected to expand the European iodine market in the future.
The North American iodine market is anticipated to grow significantly in the next few years owing to the developing food industry. Iodine is widely used in the production of potassium iodate and sodium iodide, among other food additives. Moreover, the rising demand for pets is expected to increase the awareness about animal health, which, in turn, is projected to boost the application of iodine for providing animal nutrition.
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The Asia Pacific region is expected to register the highest CAGR in the upcoming years due to the growing incidence of iodine deficiency in the developing countries, such as China and India. The increasing consumption of iodine in animal and human feed, advancements in healthcare sectors and large chemical manufacturing industry are some of the major factors that are likely to drive the Asia Pacific iodine market in the years ahead.
The Latin American iodine market is expected to grow moderately in the years ahead owing to low GDP growth. The demand for iodine is growing rapidly due to the rising number of iodine deficient patients across the region. Moreover, the region’s developing automotive industry is further expected to expand the use of fluorides for lightweight aluminum components. Therefore, the increasing demand for fluorides in the automotive industry is projected to fuel this region’s market growth over the forecast time period.
Browse the full “Iodine Market by Type (Natural Brines, Nitrite Ores, and Others) and by Application (LCD Polarizers, X-Ray Contrast Media, Animal Nutrition, Health Nutrition, Fluorochemicals, Pharmaceuticals, Biocides, Catalysts, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024” Report at https://www.zionmarketresearch.com/report/iodine-market
The Middle Eastern and African iodine market is estimated to grow substantially in the upcoming years, due to the increasing usage of iodine as a catalyst in various manufacturing industries across the region and the rising demand for biocides in several end-user industries.
Some key players of the global iodine market includes Cosayach, Iofina, Calibre Chemicals Pvt. Ltd., Glide Chem Pvt. Ltd., Deepwater Chemicals, ISE Chemical Corporation, Independent Iodine, Itochu Chemical Frontier Corporation, Zen Chemicals, GODO Shigen Co. Ltd., Iochem Chemicals Corporation, Eskay Iodine, JSC Isotope, and ISR Holding Private Limited, among others.
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The report segments the global iodine market into:
Global Iodine market: Type Analysis
- Natural Brines
- Nitrite Ore
- Others
Global Iodine market: Application Analysis
- LCD Polarizers
- X-ray Contrast Media
- Animal Nutrition
- Health Nutrition
- Fluorochemicals
- Pharmaceuticals
- Biocides
- Catalysts
- Others
Global Iodine market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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