Iodine Market Size to grow by USD 252.26 million between 2024-2028
According to a research report “ Iodine Market” by Application (XR contrast media, Pharmaceuticals, LCD and LED screens, Nutrition, Others) Source (Caliche ore, Underground brines) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 252.26 million, at a CAGR of 4.66% during the forecast period. The iodine market is poised for growth due to the increasing global demand for advanced technology devices, particularly smartphones. The screens of these devices utilize liquid crystals activated by electric current, which are essential for creating high-quality images on LCD displays. Iodine plays a crucial role in the production of polarizing films used to enhance the visibility of these images. Notable smartphone brands, such as Oppo, are expanding their global presence by launching high-end 5G handsets, driving the demand for iodine in the technology sector.
Browse market data tables, figures, and in-depth TOC on “Iodine Market” by Application (XR contrast media, Pharmaceuticals, LCD and LED screens, Nutrition, Others) Source (Caliche ore, Underground brines) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Application, the XR contrast media segment is projected to dominate the market size in 2024
Iodine, a scarcely abundant non-metallic element on Earth, is primarily found in the crystalline forms of lautarite (Ca(IO3)2) and dietzeite (Ca(IO3)2CaCrO4) within caliche, a natural saltpeter Chilean mineral. Extraction of iodine involves reducing iodate solutions to elemental iodine. Sulfur reduction is the most common and cost-effective method for extracting iodate, making it the preferred choice in the industry. Advanced chemical techniques are essential for mining minute iodine quantities, making its production process intricate yet economically viable.
By Source, Caliche ore segment is expected to hold the largest market size for the year 2024
The iodine market is primarily driven by the significant demand for iodine in the X-ray contrast media segment. Iodine's high atomic number and density enable it to enhance the contrast between various body tissues, organs, and blood vessels during diagnostic imaging procedures. By impeding the passage of X-rays, iodine-based contrast agents allow for clearer visualization of these structures on radiographs and CT scans. Additionally, iodine-based contrast materials administered intravenously significantly improve the diagnostic accuracy of these imaging techniques.
Europe is forecasted to hold the largest market size by region in 2024
Europe plays a pivotal role in driving the global iodine market, primarily due to its robust pharmaceutical, healthcare, and food sectors. Major iodine producers, including Spain, Russia, and Azerbaijan, contribute significantly to the European supply chain. The pharmaceutical industry in Europe heavily utilizes iodine for its antiseptic properties and as a crucial component in diagnostic imaging contrast agents. Moreover, Europe's focus on health and wellness has resulted in increased demand for dietary supplements fortified with iodine, addressing concerns about iodine deficiency disorders. Stringent regulatory standards in Europe regarding food safety and pharmaceuticals further shape market trends, ensuring compliance and quality assurance. Consequently, Europe's iodine market is expected to witness steady growth during the forecast period.
The Iodine Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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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 significant segment of the chemical industry, with various events, conferences, journals, publications, reports, and studies dedicated to its refining and production. Iodine refining events and conferences provide a platform for industry professionals to discuss the latest trends, innovations, and challenges in Iodine refining. Iodine refining research and sustainability are crucial topics, with a focus on safety, compliance, certifications, and standards. Iodine refining processes and techniques involve the purification of Iodine from its sources, primarily brine pools, using various methods such as distillation and membrane filtration. Iodine is a member of the Halogen family, a chemical element with the symbol I and atomic number 53. Iodine compounds have diverse applications, including as a disinfectant, in pharmaceuticals, and as a catalyst in organic synthesis. Iodine refining companies, manufacturers, and suppliers offer machinery, equipment, and technologies to optimize production and improve efficiency. Iodine refining regulations and compliance are essential to ensure the safety and quality of Iodine products. Iodine refining advancements and innovations continue to drive growth in the industry, with new applications and markets emerging. Overall, the Iodine market is dynamic and evolving, offering numerous opportunities for businesses and researchers alike.
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