Latest News- Iodine Market in US: Underground brine is expected to lead the Source segment during 2025-2029

The Iodine Market in US is being driven by Growth of smartphone industry in US

The Iodine Market in US is expected to grow at a CAGR of 4.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 60 million. Iodine producers in the US operate recycling facilities to recover iodine and its derivatives from waste streams. These facilities play a crucial role in the production of perfluoroalkane derivatives, such as fluoroiodoalkane, where iodine functions as a catalyst. Recycling rates for iodine are estimated to be approximately 70%. In organic synthesis, iodine serves as either a catalyst or a structural component. When used as a structural component, iodine becomes irrecoverable and gets incorporated into the final product. However, when utilized as a catalyst, it is efficiently recycled for subsequent uses. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Source
  • Underground brine
  • Caliche ore
• Form Factor
  • Organic compounds
  • Inorganic salts and complexes
  • Elementals and isotopes
• Application
  • Medical
  • Optical polarizing films
  • Fluorochemicals
  • Biocides
  • Others
• Geography
  • US

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 in US
• Rising usage of iodine in X-ray and CT scan procedures
• Widespread adoption of iodine in chemical industries as catalyst

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

• Periodic fluctuation in prices of iodine
• Toxic side effects of iodine in medical applications
• Limited availability of imported iodine

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Market Scope in Iodine Market in US Research Report

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Research Analysis Overview

Iodine, an essential element in the medical sector, is primarily used for treating various health risks, including cancer and overactive thyroid diseases. In the US, iodine is sourced from petroleum, chloride brines, sulfate brines, hydrocarbonate brines, and natural sources. Iodine is used in therapeutic approaches like radioactive iodine (I-131) for cancer treatment, and in surgery for thyroid conditions. The smartphone industry also consumes significant volumes of iodine for X-ray contrast media. However, iodine's finite reserves and potential health risks from radioactive isotopes necessitate purification and recycling efforts. Cancer accounts for new cases and deaths, with heart disease being another major health concern. Iodine deficiency can lead to increased mortality and morbidity. Sodium iodide, calcium iodide, magnesium iodide, and other iodine compounds are used in various applications.

Market Research Overview

The specialty chemicals industry in the US, encompassing iodine and related products, is a significant sector within the global specialty chemicals market. This market is characterized by high-value-added chemicals used in the manufacturing of various products, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to our market analysis by Technavio, key growth drivers for this market include the increasing demand for specialty adhesives and sealants, which are essential for addressing health risks associated with cancer and heart disease. Iodine, a critical component in these products, plays a pivotal role in cancer prevention and heart health. Furthermore, the growing focus on iodine recycling and sustainability initiatives is expected to boost market growth. Despite these opportunities, challenges such as potential health risks associated with iodine overexposure remain a concern, necessitating stringent regulatory compliance. Overall, the specialty chemicals market in the US is poised for robust growth, driven by advancements in technology, increasing demand for eco-friendly solutions, and the expanding application areas of specialty chemicals.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/