Latest News- Iodine Market: XR contrast media is expected to lead the Application segment during 2024-2028

The Iodine Market is being driven by Growth of smartphone industry

The Iodine Market is expected to grow at a CAGR of 4.66% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 252.26 million. The global iodine market is witnessing significant advancements in extraction and purification technologies, enhancing efficiency, sustainability, and resource utilization. Traditional methods of iodine extraction from brines and mineral deposits have been augmented by innovative techniques, such as solvent extraction and ion exchange processes, which boost iodine yield, minimize waste generation, and reduce environmental impact. Moreover, progress in purification methods, including membrane filtration and chromatography, facilitates the production of high-purity iodine compounds, catering to the demands of various industries, including pharmaceuticals, electronics, and agriculture. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • XR contrast media
  • Pharmaceuticals
  • LCD and LED screens
  • Nutrition
  • Others
• Source
  • Caliche ore
  • Underground brines
• Geography
  • Europe
    • France
    • Germany
  • North America
    • US
  • APAC
    • China
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth of smartphone industry
• Huge availability of iodine reserves
• High volume consumption of iodine in X-ray contrast media

However, the market also witnesses some limitations, which are as follows:

• Fluctuating price of iodine
• Non-availability of iodine in some developing and underdeveloped countries
• Concerns related to iodine poisoning

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Market Scope in Iodine Market Research Report

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Research Analysis Overview

Iodine is a vital element in the halogen family, widely used in various industries due to its unique properties. Iodine refining is a crucial process to obtain high-purity iodine from natural sources. Iodine refining involves several safety and compliance measures to ensure the production of superior-quality iodine. Iodine refining adheres to stringent standards and regulations, including certifications such as ISO, FDA, and REACH. Refining companies employ advanced machinery and systems to maintain refining operations efficiently and effectively. Iodine refining processes utilize various techniques like distillation, crystallization, and membrane filtration for iodine purification. Safety is a top priority in iodine refining, with rigorous adherence to regulations and standards. Refining companies invest in state-of-the-art equipment and implement safety protocols to minimize risks. Iodine sources include brine pools, seaweed, and iodate rocks. Iodine derivatives like iodides and iodates are also produced during refining. Iodine refining solutions offer customized services to cater to diverse industry requirements. These solutions include iodine for pharmaceuticals, food additives, catalysts, and other applications. Iodine refining techniques continue to evolve, with ongoing research and development to enhance efficiency and productivity.

Market Research Overview

The iodine market is a segment of the larger global diversified metals and mining market, as identified by Technavio. This market encompasses businesses involved in the production or extraction of a range of metals and minerals, including non-ferrous metals such as lead, nickel, tin, titanium, zinc, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium, as well as salt, borate, phosphate rock, and diversified mining operations. The market size is determined by Technavio based on the consolidated revenue generated by these companies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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