The global “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″, The global iodine market size was projected to reach USD 1,041.0 Million by 2022, at a CAGR of 4.58%. The market is witnessing growth due to the increasing use of iodine in optical polarizing films in LCD applications. The growing deficiency of iodine in developing countries and its 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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Iodine finds various applications across different industries. Some key applications of iodine include:
- Pharmaceuticals: Iodine is used in the production of pharmaceuticals, including antiseptics, disinfectants, and contrast agents for medical imaging. It is an essential component in medications for thyroid disorders.
- Nutrition and Health: Iodine is a crucial element for the production of thyroid hormones, which regulate metabolism. It is added to salt and other food products to prevent iodine deficiency disorders and promote healthy thyroid function.
- X-ray Contrast Media: Iodine compounds are used as contrast agents in X-ray procedures to enhance the visibility of specific body parts and tissues, aiding in accurate diagnosis and medical imaging.
- Biocides and Disinfectants: Iodine compounds are utilized as biocides and disinfectants in various applications, including water treatment, wound care, and sanitization of surfaces in healthcare settings.
- Animal Nutrition: Iodine is added to animal feed to support healthy growth, reproduction, and thyroid function in livestock and poultry. It helps prevent iodine deficiency disorders in animals.
- Catalysts and Chemical Intermediates: Iodine compounds serve as catalysts in chemical reactions and are used as intermediates in the synthesis of various organic compounds, such as pharmaceuticals, dyes, and polymers.
- Electronics and Optics: Iodine is employed in the production of specialty chemicals, coatings, and dopants for electronics and optics applications, including LCD screens, solar cells, and semiconductor manufacturing.
- Agriculture: Iodine is used in agriculture as a micronutrient supplement for crops and as a disinfectant for seeds and agricultural equipment. It promotes plant growth and helps prevent diseases caused by fungi and bacteria.
“Caliche ore: The largest source of iodine”
Caliche ore is a type of sedimentary rock that is found mostly in arid regions of the world and is constituted primarily of calcium carbonate. Given that it contains up to several thousand parts per million of the element, it is a valuable source of iodine. Caliche ore is mined in Peru, Chile, Argentina, Mexico, and the United States, where it is used to produce a variety of goods, including fertilizers and animal feed. Iodine, a trace element used to treat thyroid disorders, is crucial for both human and animal health.
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“Organic Compounds: The largest form segment of the iodine market”
The iodine market’s largest form category is organic compounds. Numerous products, including as food and feed additives, medicines, polymers, and catalysts, utilize organic iodine compounds. They are also employed as antifungal, antiseptic, and disinfecting agents. Organic iodine compounds are also utilized in chemical synthesis, the creation of dyes and pigments, and the manufacture of inks. Polyurethanes, polymers, and resins are also made with the help of organic iodine compounds. In the making of rubber, they serve as antioxidants and flame retardants. Additionally utilized as catalysts in the creation of polymers, adhesives, and paints are organic iodine compounds.
“X-ray contrast media: The largest application of iodine”
Iodine is most commonly used in X-ray contrast medium. When using contrast media for X-ray imaging, specific bodily parts are highlighted. When contrast media is injected into the bloodstream or ingested, it travels through the body and causes some places to seem more distinct on the X-ray image. Due to its capacity to absorb X-rays and improve images, iodine is the most often used element in X-ray contrast medium. Medical imaging techniques can be performed safely and effectively with iodine-based contrast media.
“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.
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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), Nippon 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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