Iodine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
According to Fairfield Market Research, the global iodine market witnessed remarkable growth during forecast year. It is estimated to be valued at US$ 3.6 billion in 2024, with a projected expansion to reach US$ 6.7 billion by the end of 2031. This substantial growth is driven by various factors and applications of iodine.
Iodine: A Versatile Element
Iodine, a nonmetallic element and the heaviest halogen in the periodic table, is found in small quantities in natural sources like brines and seaweeds. It has versatile applications, including analytical chemistry and photography. Additionally, the radioactive isotope I-131, with a half-life of eight days, is used in various medical and industrial applications due to its long-lasting effects.
Crucial for Mental and Physical Development
One of the critical benefits of iodine is its role in maintaining optimal mental and physical development. Iodine deficiency can lead to a range of disabilities and disorders, such as goiter, hypothyroidism, cretinism, abortion, stillbirth, mental retardation, and psychomotor defects. These consequences are preventable with adequate iodine intake.
Iodine Deficiency: A Global Health Concern
Iodine deficiency is the leading cause of preventable brain damage worldwide. In areas with iodine-deficient soil, children can have an average IQ deficit of 13.5 points compared to those in iodine-sufficient regions. Ensuring adequate iodine intake is crucial for individuals of all ages.
Key Producers: Chile and Japan
Chile and Japan are the leading producers of iodine, collectively accounting for over 90% of global production. The top five manufacturing companies worldwide hold a 60% to 65% market share in 2023.
Applications Driving Iodine Sales
Sales of iodine are propelled by the increasing demand for alcohols, ketones, and other organic acids used in the production of various chemicals and products. Iodine plays a pivotal role in various industries, including medicine, chemical production, and photography. Furthermore, it is essential for human health, and its deficiency can lead to significant health issues.
Factors Responsible for High Sales of Iodine
Extensive Utilization in Radiography: Iodine is widely used as a contrast agent in radiographic procedures. Its high atomic number and density enhance the contrast between tissues, making it invaluable for medical imaging purposes.
Environmental Stability for Chemical Industries: Iodine serves as a catalyst in various chemical reactions, including the synthesis of ketones and esterification of acids. Its stability and eco-friendliness make it a preferred choice for chemical industries.
Challenges Hindering Demand Growth
Competition from Substitutes: Iodine faces competition from substitutes like bromine, chlorine, and boron in various applications, particularly in biocides, colorants, and inks.
Price Volatility: Iodine prices fluctuate regularly, impacting profitability for manufacturers.
Potential Toxicity: The potential toxicity of iodine and limited awareness about its importance in human nutrition, especially in developing economies, hinder demand growth.
Country-wise Insights
United States: The widespread use of iodine as a disinfectant, stabilizer in plastics, and catalyst in chemical production contributes to its growth in the United States, driven by expanding industrial and manufacturing sectors.
India: India, with a significant population affected by iodine deficiency, sees high demand for iodine products. Efforts are underway to mitigate deficiency and increase awareness.
Competitive Landscape
The global iodine market is estimated to consolidate, with key players investing in supply chain enhancement, production capacity, and sustainable product development. Iodine remains an attractive choice for end-users due to its cost-effectiveness.
Key Companies Profiled
Iochem Corporation, Iofina Chemical, Inc., Sociedad Química y Minera (SQM), ISR Holding, Qingdao Bright Moon Seaweed Group Co., Ltd., Algorta Norte S.A., ISE Chemicals Corporation, Kanto Natural Gas Development Co., Ltd., Godo Shigen Co., Ltd., Nippoh Chemicals Co., Ltd., Salvi Chemicals Industries Ltd., Toho Earthtech Co., Ltd., K&O Iodine Co. Ltd., ACF Minera S.A., Deepwater Chemicals, Kansar Khazar Co., Agh Altin Chem Co., Godo Shigen Co., Ltd., Samrat Pharmachem Limited, Calibre Chemicals Pvt. Ltd., Eskay Iodine Pvt. Ltd., Amphray Laboratories, Proto Chemicals Industries, Vishal Laboratories, and other key players.
Market Segmentation
The market is segmented by source type, application, and region.
By Source Type:
• Natural Brines
• Nitrite Ores
• Others (Seaweeds)
By Application:
• X-ray Contrast Media
• Catalysts
• Biocides
• LED/LCD Polarizing Films
• Feed Additives
• Human Nutrition
• Others
By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia and Pacific
• Middle East and Africa
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- 1. Executive Summary
- 1.1. Global Iodine Market Snapshot
- 1.2. Future Projections
- 1.3. Key Market Trends
- 1.4. Regional Snapshot, By Volume, 2023
- 1.5. Analyst Recommendations
- 2. Market Overview
- 2.1. Market Definitions and Segmentations
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
- 2.3. Value Chain Analysis
- 2.4. Porter’s Five Forces Analysis
- 2.5. Covid-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
- 2.6. Impact of Ukraine-Russia Conflict
- 2.7. Economic Overview
- 2.8. PESTLE Analysis
- 3. Production Output and Trade Statistics
- 3.1. Key Highlights
- 3.2. Global Iodine Production, By Region
- 3.2.1. North America
- 3.2.2. Europe
- 3.2.3. Asia Pacific
- 3.2.4. Latin America
- 3.2.5. Middle East & Africa
- 4. Price Trends Analysis and Future Projects, 2018 – 2031
- 4.1. Global Average Price Analysis, By Source
- 4.2. Prominent Factors Affecting Iodine Prices
- 4.3. Global Average Price Analysis, By Region
- 5. Global Iodine Market Outlook, 2018 – 2031
- 5.1. Global Iodine Market Outlook, By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 5.1.1. Key Highlights
- 5.1.1.1. Natural Brines
- 5.1.1.2. Nitrite Ores
- 5.1.1.3. Others (Seaweeds)
- 5.2. Global Iodine Market Outlook, By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 5.2.1. Key Highlights
- 5.2.1.1. X-Ray Contrast Media
- 5.2.1.2. Catalysts
- 5.2.1.3. Biocides
- 5.2.1.4. LED/LCD Polarizing Films
- 5.2.1.5. Feed Additives
- 5.2.1.6. Human Nutrition
- 5.2.1.7. Others
- 5.3. Global Iodine Market Outlook, By Region, Volume (Tons) and Value (US$ Bn), 2018 - 2030
- 5.3.1. Key Highlights
- 5.3.1.1. North America
- 5.3.1.2. Europe
- 5.3.1.3. Asia Pacific
- 5.3.1.4. Latin America
- 5.3.1.5. Middle East & Africa
- 6. North America Iodine Market Outlook, 2018 – 2031
- 6.1. North America Iodine Market Outlook, By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 6.1.1. Key Highlights
- 6.1.1.1. Natural Brines
- 6.1.1.2. Nitrite Ores
- 6.1.1.3. Others (Seaweeds)
- 6.2. North America Iodine Market Outlook, By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 6.2.1. Key Highlights
- 6.2.1.1. X-Ray Contrast Media
- 6.2.1.2. Catalysts
- 6.2.1.3. Biocides
- 6.2.1.4. LED/LCD Polarizing Films
- 6.2.1.5. Feed Additives
- 6.2.1.6. Human Nutrition
- 6.2.1.7. Others
- 6.3. North America Iodine Market Outlook, By Country, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 6.3.1. Key Highlights
- 6.3.1.1. U.S. Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 6.3.1.2. U.S. Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 6.3.1.3. Canada Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 6.3.1.4. Canada Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
- 7. Europe Iodine Market Outlook, 2018 – 2031
- 7.1. Europe Iodine Market Outlook, By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.1.1. Key Highlights
- 7.1.1.1. Natural Brines
- 7.1.1.2. Nitrite Ores
- 7.1.1.3. Others (Seaweeds)
- 7.2. Europe Iodine Market Outlook, By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.2.1. Key Highlights
- 7.2.1.1. X-Ray Contrast Media
- 7.2.1.2. Catalysts
- 7.2.1.3. Biocides
- 7.2.1.4. LED/LCD Polarizing Films
- 7.2.1.5. Feed Additives
- 7.2.1.6. Human Nutrition
- 7.2.1.7. Others
- 7.3. Europe Iodine Market Outlook, By Country, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1. Key Highlights
- 7.3.1.1. Germany Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1.2. Germany Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1.3. U.K. Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1.4. U.K. Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1.5. France Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1.6. France Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1.7. Italy Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1.8. Italy Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1.9. Russia Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1.10. Russia Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1.11. Rest of Europe Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.1.12. Rest of Europe Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
- 8. Asia Pacific Iodine Market Outlook, 2018 – 2031
- 8.1. Asia Pacific Iodine Market Outlook, By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.1.1. Key Highlights
- 8.1.1.1. Natural Brines
- 8.1.1.2. Nitrite Ores
- 8.1.1.3. Others (Seaweeds)
- 8.2. Asia Pacific Iodine Market Outlook, By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.2.1. Key Highlights
- 8.2.1.1. X-Ray Contrast Media
- 8.2.1.2. Catalysts
- 8.2.1.3. Biocides
- 8.2.1.4. LED/LCD Polarizing Films
- 8.2.1.5. Feed Additives
- 8.2.1.6. Human Nutrition
- 8.2.1.7. Others
- 8.3. Asia Pacific Iodine Market Outlook, By Country, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1. Key Highlights
- 8.3.1.1. China Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1.2. China Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1.3. Japan Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1.4. Japan Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1.5. South Korea Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1.6. South Korea Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1.7. India Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1.8. India Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1.9. Southeast Asia Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1.10. Southeast Asia Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1.11. Rest of Asia Pacific Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.1.12. Rest of Asia Pacific Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
- 9. Latin America Iodine Market Outlook, 2018 – 2031
- 9.1. Latin America Iodine Market Outlook, By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 9.1.1. Key Highlights
- 9.1.1.1. Natural Brines
- 9.1.1.2. Nitrite Ores
- 9.1.1.3. Others (Seaweeds)
- 9.2. Latin America Iodine Market Outlook, By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 9.2.1. Key Highlights
- 9.2.1.1. X-Ray Contrast Media
- 9.2.1.2. Catalysts
- 9.2.1.3. Biocides
- 9.2.1.4. LED/LCD Polarizing Films
- 9.2.1.5. Feed Additives
- 9.2.1.6. Human Nutrition
- 9.2.1.7. Others
- 9.3. Latin America Iodine Market Outlook, By Country, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 9.3.1. Key Highlights
- 9.3.1.1. Brazil Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 9.3.1.2. Brazil Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 9.3.1.3. Mexico Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 9.3.1.4. Mexico Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 9.3.1.5. Rest of Latin America Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 9.3.1.6. Rest of Latin America Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 9.3.2. BPS Analysis/Market Attractiveness Analysis
- 10. Middle East & Africa Iodine Market Outlook, 2018 – 2031
- 10.1. Middle East & Africa Iodine Market Outlook, By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 10.1.1. Key Highlights
- 10.1.1.1. Natural Brines
- 10.1.1.2. Nitrite Ores
- 10.1.1.3. Others (Seaweeds)
- 10.2. Middle East & Africa Iodine Market Outlook, By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 10.2.1. Key Highlights
- 10.2.1.1. X-Ray Contrast Media
- 10.2.1.2. Catalysts
- 10.2.1.3. Biocides
- 10.2.1.4. LED/LCD Polarizing Films
- 10.2.1.5. Feed Additives
- 10.2.1.6. Human Nutrition
- 10.2.1.7. Others
- 10.3. Middle East & Africa Iodine Market Outlook, By Country, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 10.3.1. Key Highlights
- 10.3.1.1. GCC Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 10.3.1.2. GCC Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 10.3.1.3. South Africa Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 10.3.1.4. South Africa Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 10.3.1.5. Egypt Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 10.3.1.6. Egypt Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 10.3.1.7. Rest of Middle East & Africa Iodine Market By Source, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 10.3.1.8. Rest of Middle East & Africa Iodine Market By Application, Volume (Tons) and Value (US$ Bn), 2018 – 2031
- 10.3.2. BPS Analysis/Market Attractiveness Analysis
- 11. Competitive Landscape
- 11.1. Product vs Application Heatmap
- 11.2. Manufacturer vs Application Heatmap
- 11.3. Company Market Share Analysis, 2023
- 11.4. Competitive Dashboard
- 11.5. Company Profiles
- 11.5.1. Iochem Corporation
- 11.5.1.1. Company Overview
- 11.5.1.2. Product Portfolio
- 11.5.1.3. Financial Overview
- 11.5.1.4. Business Strategies and Development
- 11.5.2. Iofina Chemical, Inc.
- 11.5.2.1. Company Overview
- 11.5.2.2. Product Portfolio
- 11.5.2.3. Financial Overview
- 11.5.2.4. Business Strategies and Development
- 11.5.3. Sociedad Química y Minera (SQM)
- 11.5.3.1. Company Overview
- 11.5.3.2. Product Portfolio
- 11.5.3.3. Financial Overview
- 11.5.3.4. Business Strategies and Development
- 11.5.4. ISR Holding
- 11.5.4.1. Company Overview
- 11.5.4.2. Product Portfolio
- 11.5.4.3. Financial Overview
- 11.5.4.4. Business Strategies and Development
- 11.5.5. Qingdao Bright Moon Seaweed Group Co.,Ltd.
- 11.5.5.1. Company Overview
- 11.5.5.2. Product Portfolio
- 11.5.5.3. Financial Overview
- 11.5.5.4. Business Strategies and Development
- 11.5.6. Algorta Norte S.A
- 11.5.6.1. Company Overview
- 11.5.6.2. Product Portfolio
- 11.5.6.3. Financial Overview
- 11.5.6.4. Business Strategies and Development
- 11.5.7. ISE Chemicals Corporation
- 11.5.7.1. Company Overview
- 11.5.7.2. Product Portfolio
- 11.5.7.3. Financial Overview
- 11.5.7.4. Business Strategies and Development
- 11.5.8. Kanto Natural Gas Development Co., Ltd
- 11.5.8.1. Company Overview
- 11.5.8.2. Product Portfolio
- 11.5.8.3. Business Strategies and Development
- 11.5.9. Godo Shigen Co., Ltd
- 11.5.9.1. Company Overview
- 11.5.9.2. Product Portfolio
- 11.5.9.3. Financial Overview
- 11.5.9.4. Business Strategies and Development
- 11.5.10. Nippoh Chemicals Co., Ltd
- 11.5.10.1. Company Overview
- 11.5.10.2. Product Portfolio
- 11.5.10.3. Financial Overview
- 11.5.10.4. Business Strategies and Development
- 11.5.11. Salvi Chemicals Industries Ltd
- 11.5.11.1. Company Overview
- 11.5.11.2. Product Portfolio
- 11.5.11.3. Financial Overview
- 11.5.11.4. Business Strategies and Development
- 11.5.12. Toho Earthtech Co., Ltd
- 11.5.12.1. Company Overview
- 11.5.12.2. Product Portfolio
- 11.5.12.3. Financial Overview
- 11.5.12.4. Business Strategies and Development
- 11.5.13. k&o iodine co. ltd
- 11.5.13.1. Company Overview
- 11.5.13.2. Product Portfolio
- 11.5.13.3. Financial Overview
- 11.5.13.4. Business Strategies and Development
- 11.5.14. ACF Minera S.A
- 11.5.14.1. Company Overview
- 11.5.14.2. Product Portfolio
- 11.5.14.3. Financial Overview
- 11.5.14.4. Business Strategies and Development
- 11.5.15. Deepwater Chemicals
- 11.5.15.1. Company Overview
- 11.5.15.2. Product Portfolio
- 11.5.15.3. Financial Overview
- 11.5.15.4. Business Strategies and Development
- 11.5.16. Kansar khazar co.
- 11.5.16.1. Company Overview
- 11.5.16.2. Product Portfolio
- 11.5.16.3. Financial Overview
- 11.5.16.4. Business Strategies and Development
- 11.5.17. Agh Altin Chem Co.
- 11.5.17.1. Company Overview
- 11.5.17.2. Product Portfolio
- 11.5.17.3. Financial Overview
- 11.5.17.4. Business Strategies and Development
- 11.5.18. GODO SHIGEN Co., Ltd.
- 11.5.18.1. Company Overview
- 11.5.18.2. Product Portfolio
- 11.5.18.3. Financial Overview
- 11.5.18.4. Business Strategies and Development
- 11.5.19. Samrat Pharmachem Limited
- 11.5.19.1. Company Overview
- 11.5.19.2. Product Portfolio
- 11.5.19.3. Financial Overview
- 11.5.19.4. Business Strategies and Development
- 11.5.20. Calibre Chemicals Pvt. Ltd.
- 11.5.20.1. Company Overview
- 11.5.20.2. Product Portfolio
- 11.5.20.3. Financial Overview
- 11.5.20.4. Business Strategies and Development
- 11.5.21. Deepwater Chemicals
- 11.5.21.1. Company Overview
- 11.5.21.2. Product Portfolio
- 11.5.21.3. Financial Overview
- 11.5.21.4. Business Strategies and Development
- 11.5.22. Eskay Iodine Pvt Ltd
- 11.5.22.1. Company Overview
- 11.5.22.2. Product Portfolio
- 11.5.22.3. Financial Overview
- 11.5.22.4. Business Strategies and Development
- 12. Appendix
- 12.1. Research Methodology
- 12.2. Report Assumptions
- 12.3. Acronyms and Abbreviations
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