Iodine Market In US size is set to grow by USD 58.59 mn from 2024-2028, growth of smartphone industry in US boost the market- Technavio

NEW YORK, March 25, 2024 /PRNewswire/ -- The global iodine market in us size is estimated to grow by USD 58.59 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.62% during the forecast period. The iodine market in the US is driven by the rising demand for smartphones, leading to increased adoption of polarizing films in mobile screens. These films, made from iodine-containing materials, enhance LCD image visibility. Iodine is sourced from underground brines, water, and dissolved salts, including sodium iodide solutions. Smartphone companies explore global markets for resources like rubidium, cesium, boron, strontium, and hydrocarbonates, used in iodine production. Additionally, iodine is found in chloride, sulfate, and hydrocarbonate brines, and in petroleum and oil deposits. 

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Segment Overview 

This iodine market in US report extensively covers market segmentation by Source (Underground brine, Caliche ore) Form Factor (Organic compounds, Inorganic salts and complexes, Elementals and isotopes) Application (Medical, Optical polarizing films, Fluorochemicals, Biocides, Others) Geography (North America)

Market segmentation by Source

The Iodine Market in the US is characterized by the production and utilization of iodine-based organic compounds. These substances, including iodoform and alkyl iodines, are essential in various industries such as agrochemicals, biotechnology, and medicines. Iodoform, with its germicidal properties, is used as an antiseptic in medicinal applications. Iodinated contrast chemicals are employed in medical imaging procedures for enhanced visualization of internal organs and tissues. Alkyl iodines, composed of iodine atoms bonded to an alkyl group, are utilized in organic synthesis and chemical manufacturing. The Iodine Market in the US continues to grow due to the increasing demand for these versatile compounds in diverse applications.

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• In the US, iodine producers recover approximately 70% of iodine from waste streams in recycling facilities. Iodine is utilized as a catalyst in the production of fluoroiodoalkanes from underground brines, water, and dissolved salts. Key resources include natural gas, oil deposits, and strontium, cesium, rubidium, boron, and sodium iodide solutions. Iodine's role as a catalyst in organic synthesis, particularly in the smartphone industry, ensures its recycling. Other applications include petroleum, chloride brines, sulfate brines, and hydrocarbonate brines, involving sodium, calcium, and magnesium.
• The iodine market in the US is influenced by disruptions in the global supply chain, primarily from major producers like Chile, Japan, and the US. Iodine is sourced from underground brines and deposits, containing dissolved salts and ions, such as rubidium, cesium, boron, strontium, and sodium iodide solutions. Geopolitical tensions and natural disasters can impact production, leading to price volatility. Iodine is used in industries like petroleum and smartphones, which require chloride brines, sulfate brines, hydrocarbonate brines, sodium, calcium, and magnesium.

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Research Analysis

The iodine market in the US is significantly influenced by the medical and healthcare sectors, where iodine is essential for mitigating health risks associated with overactive thyroid diseases, such as hyperthyroidism. Iodine is used therapeutically through radioactive iodine (I-131) and surgical approaches. Iodine reserves in the US come from various sources, including petroleum, chloride brines, sulfate brines, and hydrocarbonate brines. Iodine is also used in the production of X-ray contrast media and the purification of iodine for various industrial applications. The smartphone industry's increasing demand for iodine in the manufacturing process also contributes to the market's growth. The recycling of iodine from industrial waste and X-ray contrast media is a promising approach to reduce the environmental impact and mortality rates related to cancer, heart disease, and new cancer cases.

Market Research Overview

The Iodine market in the US is a significant sector within the healthcare industry. Iodine is a crucial element for the production of various medicines and disinfectants. The demand for iodine in the US is driven by its essential role in the production of iodized salt, used for preventing iodine deficiency disorders. Additionally, iodine is used in the medical field for disinfection, sterilization, and as a contrast agent in medical imaging. The US market for iodine is expected to grow due to increasing awareness of iodine deficiency and the rising demand for iodine-based products in the healthcare sector. The US is also a major producer and exporter of iodine, with Canada and China being key suppliers. The US iodine market is competitive, with major players including Iodine Technologies, Inc., DuPont, and Solvay. The market is also witnessing innovation, with new iodine-based products and applications being developed to cater to the evolving needs of the healthcare industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio