Iodine is a non-metallic element with a blue-black color and lustrous appearance. It belongs to the halogen family in the periodic table and is the least reactive among the halogens. Iodine is a trace element that can be obtained mainly from three sources, which are underground brines, caliche ore, and seaweed. It is also recycled in many parts of the world, mainly in Japan. Iodine is either used in elemental or isotopic form and in the form of inorganic salts & complexes and organic compounds. It is widely used in numerous applications, such as X-ray contrast media, pharmaceuticals, iodophors, and optical polarizing films in LCDs, catalyst in polymer synthesis, biocides, human nutrition, animal feed, and fluorochemicals. Increasing use of iodine in optical polarizing films in LCD applications and growing deficiency of iodine in developing countries are the major factors driving the market for iodine globally. The growth is further driven by its application in X-ray contrast media, fluorinated derivatives, and photography. The global iodine market is estimated at USD 832.1 Million in 2017 and is projected to reach USD 1,041.0 Million by 2022, at a CAGR of 4.58% between 2017 and 2022.
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The Western European region was the largest market for iodine, in terms of value and volume. The high consumption of iodine in the region is attributed to the increasing demand from the healthcare and chemical industries. Growing investments in medical research, advancements in diagnostic imaging techniques, strong healthcare infrastructure with significant number of CT and MRI examinations, and growing iodine deficiency in Rest of the Western European counties are some of the factors responsible for the large market size of iodine in Western Europe.
Iodine manufacturers such as Sociedad Química y Minera (SQM) (Chile), Iofina (UK), ISE Chemicals Corporation (Japan), IOCHEM Corporation (US), Compañía 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) are covered in the report. These companies have large production facilities and have adopted organic strategies to become the leading players in the global iodine market.
SQM is the leading manufacturer of iodine with the largest production capacity of iodine globally. The company manufactures around 10,000 tons of iodine and its derivatives annually. The company, in 2016 launched a new product Ethyl-TriPhenyl-Phosphonium Iodide (ETPPI) through its brand Iodeal. ETPPI is a quaternary phosphonium salt used in the advancement or curing of thermosetting powder coatings and phenolic-based epoxy resins, as a phase transfer catalyst, and a Wittig reagent. This product launch helped the company enhance and broaden its product offerings.
Iofina is another major company operating in iodine manufacturing after SQM. For instance, in 2017, Iofina expanded its iodine production with the construction of IO#7, a new production plant for manufacturing iodine and its derivatives. With this expansion, the company will be able to increase its iodine production with lower per kilo cost of production.
Browse 109 tables and 50 figures spread through 147 pages and in-depth TOC on “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″: https://www.marketsandmarkets.com/requestsampleNew.asp?id=65097087
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