Global Iodine Market Overview:
Components, with multiple benefits, are rarely widely available. Iodine contradicts the notion with its widespread usage across industrial verticals, and it is readily available with a cost-efficient tag on it. The Global Iodine Market can escalate to a valuation of USD 1,073.7 million by 2023, growing at a high CAGR during the forecast period (2018-2023).
Iodine’s proliferation in sectors from nutrition to healthcare and even in imaging technology has already given it a vast horizon to explore its market potential. An essential nutritional component, iodine works in X-ray contrast media as a tracer radioactive and as an anti-thyroid element in pharmaceuticals. Iodine’s percolation in imaging technology has elaborated the scope of iodine market further with each passing day experiencing a rise in LCD screen consumption. What can further cement the Iodine Market growth is its monopoly; without an appropriate substitute, iodine can command the market significantly in the near future.
The Iodine Market can, on the other hand, can backtrack a little in its growth trajectory due to its toxicity caused by over-consumption of the product. It can lead to hyperthyroidism and restrain the expected market growth during the review period.
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At MRFR, our research analysts conduct a thorough objective analysis of the market while creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top executives of iodine supplying companies. Secondary research entails a thorough analysis of past and present trends in a forward-looking manner. Additionally, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the value and supply chain. The balanced number of buyers and suppliers will result in a negligible demand-supply gap. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.
Base Year – 2017
Projection Period – From 2018 to 2023
Market Denomination – USD Million
Conversion Rate – Considered as per the respective financial years
The Iodine Market is experiencing several strategical implementations such as expansion, collaboration, mergers, and acquisitions. Relying on these, the market is eyeing for extraordinary growth. Iofina’s construction of the new IO#7 plant in Oklahoma, U.S. can be considered exemplary. Itochu Chemical made a strategic investment in SCILEX Pharmaceuticals Inc., can be considered a tactical move to expand its portfolio.
Key players involved in the market are Independent Iodine, Calibre Chemicals Pvt. Ltd., Zen Chemicals, Deepwater Chemicals, Glide Chem Pvt. Ltd., Iochem Chemicals Corporation, Iofina, Godo Shigen Co. Ltd, ISE Chemical Corporation, and Itochu Chemical Frontier Corporation.
Geographical mapping of the Iodine Market covers namely North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and the Middle East & Africa (MEA).
Europe is the current market leader with a projected value of USD 335.4 million by 2023. Presence of several pharmaceuticals, along with extraordinary infrastructure, has given the region a headstart in capturing the market. North America has similar reasons to boast off, and its contribution is quite substantial. The estimated market value of the region will be USD 214.1 million during the forecast period. However, it’s the emerging economies such as India and China that are boosting the regional market and taking the APAC to a new height. Industrial revamping and revolutionary changes made in the healthcare sector is giving the region enough reason to enjoy the fastest CAGR of 6.07% during the time frame. The market valuation could easily climb up to USD 311.2 million during the review period.
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