Iodine Market to Witness a Significant Growth During 2019-2026 | Top Key Players Are SQM, ISE Chemical Corporation, IOCHEM Corporation, Toyota Tsusho Corporation
Iodine is a halogen element with atomic number 53 in the group seven of the periodic table with a shiny lustre and is blue-black in color. It is present in a variety of chemical forms including iodate, iodide and elemental iodine though occurrence of free iodine is mainly found as a diatomic molecule I2. Iodine is abundantly present in seawater though its distribution over water and land is lopsided. Iodines derivatives are extensively applied as an intermediate in industrial chemicals. Iodines scarcity in soils due to low profusion as an earth crust element leads to several deficiency problems in humans as well as animal populations such as mental retardation, goiter, eyesight problems, heart diseases and intellectual disabilities, thus iodine and its compounds are also used in human nutrition. Iodine is also used as a contrast agent in X-ray media due to its relatively low toxicity, high atomic number and ease of adjunction with organic compounds. Moreover, iodine is used as a catalyst in industrial chemical reactions, in biocides, as a feed additive in animal nutrition, as a contrast agent in LED polarizing films among others (water treatment etc.).
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Currently, the world iodine market is in its blooming age due to increasing demand for iodine in x-ray contrast media and LED polarizing films. The world iodine market is anticipated to exhibit a considerable growth over the forecast period due to increasing extraction of nitrite ores from earths crust. Moreover, increasing iodine deficiency and prevalence of thyroid disorders among the aging population especially in the developing economies like Africa, India, China etc., stringent government regulations on the use of iodized salt in Asia and Africa along with the use of iodine as disinfectants in water treatment are some major factors spurring the growth of the world iodine market. However, fluctuating prices of iodine due to its shortage is a key factor hampering the growth of the market. Also, increasing capital expenditure on production of iodine, lack of skilled professionals in iodine production and recycling and health concerns due to direct consumption are some reasons expected to hinder the market growth during 2014 2022.
The report segments the world iodine market on the basis of end-use industry and geography. On the basis of end-use industry, the world iodine market is segmented into X-ray contrast media, catalysts, biocides, feed additives, human nutrition, LED polarizing films and others (disinfectant, water treatment etc.). Geographically, the market is categorically divided into North America, Europe, Asia-Pacific and LAMEA.
Advancements in technology in the extraction of iodine especially from seaweed and caliche ores is expected to increase the overall market growth. Chemical giants such as SQM and ISE Chemical Corporation are concentrating on investing in robotic technologies for iodine production intend to decrease the iodine rates as well. Moreover, SQM acquired DSMs iodine business in 2006 to increase its iodine yield. Key players profiled in the report include SQM, ISE Chemical Corporation, IOCHEM Corporation, Toyota Tsusho Corporation, AZER YOD LLC, Algorta Norte S.A., Iofina PLC and ACF Minera SA among others.
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KEY BENEFITS FOR STAKE HOLDERS
• The report provides an extensive analysis of the current and emerging market trends and opportunities in the world iodine market.
• The report necessitates the detailed qualitative and quantitative analysis of current market estimations for the forecast period, 2014 2022, which assists in evaluating the prevailing market opportunities.
• Comprehensive analysis of factors that drive and restrict the growth of the world iodine market is provided such as increasing use of iodine as a contrast media agent across the globe will drive the market.
• Region specific and country specific analysis of market value and volume are based on primary as well as secondary sources and are comprehensively analyzed in this report.
• Competitive intelligence (of leading producers and suppliers of iodine) helps in understanding the competitive scenario across the geographies.
• Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
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