Iodine: Global Market Report 2018-2022 - Market Expected to Reach $1.04 Billion Growing at a CAGR of 4.58%
DUBLIN, March 9, 2018 /PRNewswire/ --
The "Iodine Market by Source (Caliche Ore, Underground Brines), Form (organic compounds, Inorganic Salts, Elemental & Isotopes), Application (X-ray contrast media, Pharmaceuticals, Optical Polarizing Films), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global iodine market is estimated at USD 832.1 Million in 2017 and is projected to reach USD 1,041 Million by 2022, at a CAGR of 4.58% between 2017 and 2022.
The market is witnessing growth due to the increasing use of iodine in optical polarizing films in LCD applications. Growing deficiency of iodine in developing countries and versatile applications of iodine such as in X-ray contrast media, fluorinated derivatives, and photography are some of the factors driving the market for iodine. Recycling of iodine offers lucrative opportunities for the growth of the iodine market. Toxicity associated with consumption of iodine and its derivatives is a major factor restraining the growth of the market. Furthermore, fluctuation in the iodine prices arising due to the demand-supply gap is challenging the growth of the global iodine market globally.
Recycling is estimated to be the fastest-growing segment of the iodine market during the forecast period (2017-2022). Recycling of iodine ensures its sustainable consumption, once all its sources are exhausted. Furthermore, recycling saves the costs which are incurred while extracting fresh iodine from other sources. It also complies with several environmental regulations associated with disposal of inorganic waste. Therefore, these factors are responsible for high growth in recycling of iodine in the near future.
Organic compounds is estimated to be the fastest-growing type segment of the iodine market during the forecast period (2017-2022). The widespread use of organic compounds of iodine as intermediate reagents in applications such as pharmaceutical formulations, pesticides, biocides, and dyes & pigments is responsible for its rapid growth rate.
Optical polarizing films is estimated to be the fastest-growing application segment of the iodine market during the forecast period. The increase in use of smartphones and the Internet has boosted the consumption of consumer electronic products in the past decade. The growth of optical polarizing films segment is mainly attributed to technological advancements in the field of display panels, thus expected to drive iodine market.
The Asia Pacific region is estimated to be the fastest-growing market for iodine during the forecast period. The growth of the iodine market in Asia Pacific is because the region has favorable and cost-effective manufacturing environment, which facilitates increase in the display panel manufacturing capability of the electronics & telecommunication industry. This provides strong incentives to smartphone vendors as well as TV and smart wearable device manufacturers to increase the adoption of LCD, thus bolstering the use of iodine in optical polarizing films in the region. Increasing awareness regarding the consumption of iodine in human and animal feed, large chemical manufacturing sector, and advancements in healthcare facilities are some of the factors responsible for the high growth rate of the iodine market in the Asia Pacific region.
The report also provides company profiles and competitive strategies adopted by major market players, such as Sociedad Qumica y Minera (Chile), Iofina (UK), ISE Chemicals Corporation (Japan), IOCHEM Corporation (US), Compaa de Salitre y Yodo (Chile), Algorta Norte SA (Chile), Nippoh Chemicals Co., Ltd (Japan), Kanto Natural Gas Development Co., Ltd (Japan), Toho Earthtech Co., Ltd (Japan), and Godo Shigen Co., Ltd (Japan), among others.
Market Dynamics
Drivers
- Increasing Use of Iodine in Optical Polarizing Films in LCD Applications
- Growing Iodine Deficiency Among People in Developing Countries
- Versatile Applications of Iodine Derivatives
Restraints
- Toxicity Associated With Consumption of Iodine and its Derivatives
Opportunities
- Recycling of Iodine
Challenges
- Fluctuating Prices of Iodine Due to Demand-Supply Gap
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Iodine Market, by Source
7 Iodine Market, by Form
8 Iodine Market, by Application
9 Iodine Market, by Region
10 Competitive Landscape
11 Company Profiles
- ACF Minera
- Algorta Norte Sa
- Calibre Chemical Pvt. Ltd.
- Choice Organochem LLP
- Cosayach Compaa De Salitre Y Yodo.
- Deepwater Chemicals, Inc
- Eskay Iodine Pvt. Ltd.
- Glide Chem Pvt. Ltd.
- Godo Shigen Co.,Ltd
- ISE Chemicals Corporation
- ISR Holding
- Iochem Corporation
- Iofina PLC
- Itochu Chemical Frontier Corporation
- JSC Isotope
- Kanto Natural Gas Development Co., Ltd.
- Nihon Tennen Gas Co.
- Nippoh Chemicals Co., Ltd.
- Parad Corporation Pvt. Ltd.
- Qingdao Bright Moon Seaweed Group Co., Ltd.
- RB Energy Inc
- SQM
- Samrat Pharmachem Ltd.
- Toho Earthtech Co., Ltd.
- Zen Chemicals Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/3q737l/iodine_global?w=5
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