Iodine Market worth 1,041.0 Million USD | ****** Forecast 2022 | CAGR of 4.58%

The ****** 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. The market is witnessing growth due to the increasing use of iodine in optical polarizing films in LCD applications. Growing deficiency of iodine in developing countries and use in applications such as X-ray contrast media, fluorinated derivatives, and photography are some of the factors driving the market for iodine.

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Based on form, organic compounds was the largest segment of the ****** iodine market, in 2016. The large market size of the organic compounds segment is because they are used as pesticides and as soil disinfectants in agrochemical industry. Furthermore, organic compounds of iodine are also used as an additive in pet food and cattle feed with high bioavailability. These factors are responsible for making organic compounds the largest segment, by type.

X-ray contrast media was the largest application segment of the iodine market in 2016. Diagnostic techniques such X-ray, angiography, CT scan, and gastrointestinal series use contrast media during their execution. The advancements in medical technologies and the growth in nuclear medicinal techniques have bolstered the demand for iodine in this application.

“Western Europe: The largest iodine market, by region”

The Western European region was the largest market for iodine, in terms of value and volume, in 2016. 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.

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