Iodine is an element which is blue-black and shiny in nature. Iodine and its derivatives are used in nutrition as well as an intermediate in industrial chemicals. Iodine is one of the essential elements for human beings and is found in thyroid hormones. A Lack of iodine in human beings can cause goiter in which thyroid gland enlarges. Iodine is made available through water bodies such as oceans and water pools. Iodine is also obtained as a by-product with nitrate minerals associated with caliche deposits. Iodine production is mainly concentrated in three countries Japan, the U.S. and Chile. Iodine has variety of applications in medical and industrial segments due to its high reactivity. Various end-user industries of the iodine market include pharmaceuticals, crop protection chemicals, nutrition, biocides, contrast media, nylon, fluoro derivatives and iodophors among others.
The market for iodine was mainly driven by medical & healthcare and industrial chemical industry where it is used as a chemical intermediate. In medical & healthcare industry, iodine derivatives are used as expectorant and as medication to treat goiter. Iodine is also used as radiocontrast agent due to its ability to absorb X-rays. In crop protection chemicals, iodine is used in biocide as a substituent. Iodine is also used as a raw material in manufacturing of bactericide and disinfectants. In chemical applications, iodine is used as catalyst, stabilizer and polarizing films in LCDs. In nutrition industry, iodine is used in animal and human nutrition in order to treat the deficiencies related to the lack of iodine in food. Iodine is also used in iodized salt. Iodine is also used in manufacturing of iodophors and fluoro derivatives. Increasing demand from LCDs has been the major opportunity for the global iodine market. However, health concerns due to direct consumption of iodine and over concentration of production levels are anticipated to hinder the market growth over the forecast period.
In terms of demand, Europe was the leading region in iodine market in 2013. Increasing demand from medical & healthcare and nutrition sector has been driving the market for iodine in Europe in past few years. Germany had the largest demand for Iodine in this region. Other major countries such as Germany, the UK, France, Italy and Spain are likely to exhibit more demand for iodine and its derivatives in near future.
Asia Pacific is expected to be the fastest growing markets for iodine due to increasing demand from end-user industries such as medical & healthcare, crop protection chemicals and industrial chemicals among others. China, India and Japan had the highest demand in iodine market in Asia Pacific region. North America had the third-largest demand for iodine in 2013. The demand was huge owing to crop protection chemicals and industrial chemicals. The U.S. had the largest demand for iodine owing to huge demand from medical & healthcare sector. Rest of the World market is anticipated to show positive outlook for the iodine market in near future. Latin America and Africa are likely to be major market for iodine in this region in next few years.
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The market for iodine is highly concentrated in nature. Some of the key manufacturers in the iodine market are A.C.F. MINERA S.A., AZER-YOD LLC, IOCHEM Corporation, Iofina Chemical, Woodward Iodine Corporation and Qingdao Bright Moon Seaweed Group among others.
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Key geographies evaluated in this report are:
- North America
- France, Germany, Italy, Spain, and the UK
- Eastern Europe
- Latin America
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Key features of this report
- Drivers, restraints, and challenges shaping the Iodine market dynamics
- Latest innovations and key events in the industry
- Analysis of business strategies of the top players
- Iodine market estimates and forecasts(2015 -2021)
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