Global Hydriodic Acid Market 2023

Global Hydriodic Acid Market 2023

Description
Hydriodic acid (HI) is a strong and highly corrosive acid composed of hydrogen (H) and iodine (I). It is known for its strong reducing properties and is used in various applications. One of the key uses of hydriodic acid is in the preparation of inorganic iodides. For example, it can be reacted with potassium hydroxide (KOH) to produce potassium iodide (KI), which has applications in medicine, photography, and chemical processes. Similarly, hydriodic acid can react with sodium hydroxide (NaOH) to form sodium iodide (NaI), which is utilized in various industries, including healthcare and nuclear medicine.

Hydriodic acid is also used is in organic synthesis. It serves as a powerful reducing agent, capable of converting functional groups such as aldehydes, ketones, and nitriles into alcohols or amines by adding hydrogen atoms. This makes it valuable in the production of pharmaceuticals, fine chemicals, and other organic compounds. Another important application of hydriodic acid is in the synthesis of iodine-containing compounds. It can be used to introduce iodine atoms into organic molecules, leading to changes in their properties and reactivity.

According to the latest estimates, the global hydriodic acid market, in terms of revenue, is anticipated to progress at a CAGR of 5.8% during the forecast period, 2023-2029.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global hydriodic acid market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Market Segmentation
Application: electronics, iodides, pharmaceuticals and pesticides, others
Region: Asia-Pacific, Europe, North America, RoW (Rest of World)

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the application, and region. The global market for hydriodic acid can be segmented by application: electronics, iodides, pharmaceuticals and pesticides, others. Hydriodic acid (HI) is primarily used in the production of both organic and inorganic iodides. In organic synthesis, hydriodic acid serves as a valuable reagent for converting certain functional groups containing oxygen, nitrogen, or sulfur atoms into corresponding iodides. This reaction, known as iodination, is widely employed in pharmaceutical, agrochemical, and fine chemical industries to introduce iodine atoms into organic molecules. The resulting organic iodides can exhibit unique properties or serve as intermediates for further reactions.

Furthermore, hydriodic acid is also utilized in the production of inorganic iodides. These inorganic iodides find application in various sectors, including healthcare, photography, and industrial processes. For example, potassium iodide (KI) is commonly prepared by reacting hydriodic acid with potassium hydroxide (KOH). Potassium iodide is frequently employed in medicine as a supplement to treat iodine deficiency and in radiographic contrast media.

Sodium iodide (NaI) is another inorganic iodide produced using hydriodic acid. It is commonly used in scintillation detectors for detecting and measuring radiation. NaI-based detectors are particularly useful in areas such as nuclear medicine, environmental monitoring, and research applications.

Hydriodic acid market is further segmented by region: Asia-Pacific, Europe, North America, RoW (Rest of World). Asia-Pacific held the largest share in the global hydriodic acid market in 2022 and is projected to portray the fastest growth rate in the coming years. The region encompasses countries with well-established chemical and pharmaceutical industries, which are major consumers of hydriodic acid. The robust growth of these industries in the Asia-Pacific region has contributed significantly to the increasing demand for hydriodic acid.

Major Companies and Competitive Landscape
The market research report covers the analysis of key stake holders of the global hydriodic acid market. Some of the leading players profiled in the report include Ajay-SQM Group, Deepwater Chemicals, Inc., GHW International, Inc., GODO SHIGEN Co., Ltd., Iofina Chemical, Inc., Ise Chemicals Corporation, Jiangxi Jiayin Optoelectronic Materials Co., Ltd., Jiangxi Shengdian S&T Co., Ltd., Jindian Chemical Co., Ltd., Nippoh Chemicals Co., Ltd., Omkar Speciality Chemicals Ltd., Shandong Boyuan Pharmaceutical & Chemical Co., Ltd., Taian Havay Chemicals Co., Ltd., Toho Earthtech, Inc., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Scope of the Report
To analyze and forecast the market size of the global hydriodic acid market.
To classify and forecast the global hydriodic acid market based on application, region.
To identify drivers and challenges for the global hydriodic acid market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global hydriodic acid market.
To identify and analyze the profile of leading players operating in the global hydriodic acid market.

Why Choose This Report
Gain a reliable outlook of the global hydriodic acid market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
Print authentication provided for the single-user license.

Recent Developments
▹ China has implemented temporary anti-dumping measures on imports of hydroiodic acid and ethanolamine. These measures are in response to an initial ruling that dumping of these products from certain countries has caused substantial damage to China's domestic industry. As a result, starting from June 23, importers of hydroiodic acid are required to pay security deposits to the Chinese Customs. The rate for these deposits ranges from 41.1 percent to 118.8 percent, depending on the specifics of the import.