The global iodine market size was worth around USD 1,228.20 Million in 2023 and is predicted to grow to around USD 2,110.50 Million by 2032 with a compound annual growth rate (CAGR) of roughly 6.20% between 2024 and 2032.
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Iodine is a chemical compound that is essential for the production of thyroid hormones, specifically thyroxine (T4) and triiodothyronine (T3). It is essential for the thyroid gland to function properly. Iodine is essential for the correct functioning of thyroid hormones. Iodine is present in a variety of water sources, such as oceans, water basins, and seaweeds, among other possibilities.
It is anticipated that the global market for iodine will experience a substantial increase during the forecast period in emerging nations such as China and India, where the number of individuals suffering from iodine deficiency is on the rise. The iodine market is expected to be further stimulated by the increasing use of iodine in LED polarising films and x-ray contrast media on a global scale. The fluctuating prices of iodine, which are a result of the absence of this element, may impede the development of this market in the future.
In addition, it is anticipated that the technological advancements that have been made in the extraction of iodine, particularly from caliche ores and seaweed, will offer new opportunities for expansion to the businesses that are presently operating in this market in the years ahead.
The study also encompasses the market share of the primary players in the global iodine market. Additionally, the report covers the strategic development, agreements, partnerships, collaborations, joint ventures, and regional growth of key participants within the market on a regional basis, as well as acquisitions and mergers.
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The Global Iodine Market is segmented based on product, application and region
Global Iodine Market: Product Segment Analysis
● Natural Brines
● Nitrite Ore
● Others
Global Iodine Market: Application Segment Analysis
● LCD Polarizers
● X-ray Contrast Media
● Animal Nutrition
● Health Nutrition
● Fluorochemicals
● Pharmaceuticals
● Biocides
● Catalysts
● Others
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The global Iodine market profiles key players such as:
● Cosayach
● Iofina
● Calibre Chemicals Pvt. Ltd.
● Glide Chem Pvt. Ltd.
● Deepwater Chemicals
● ISE Chemical Corporation
● Independent Iodine
● Itochu Chemical Frontier Corporation
● Zen Chemicals
● GODO Shigen Co. Ltd.
● Iochem Chemicals Corporation
● Eskay Iodine
● JSC Isotope
● ISR Holding Private Limited
Regional Analysis of the Iodine Market
The global market for iodine can be categorised into the following regions: Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Europe is the largest contributor to the global iodine market and is expected to maintain its dominance internationally during the forecast period due to the high demand for X-ray contrast media in the healthcare industry. This is because Europe has the greatest demand for iodine. It is expected that the iodine market in the Middle East and Africa will become the second largest regional market in the globe in the coming years.
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