Iodine Market Industry Trends, Sales Revenue, Industry Growth, Development Status, Top Leaders, Future Plans and Opportunity Assessment 2027
The global ''iodinemarket'' size is projected to reach USD 1,283.0 million by the end of2027. The increasing applications of the product will bode well for marketgrowth. According to a report published by Fortune Business Insights,titled “Iodine Market Size, Share & COVID-19 Impact Analysis, BySource (Caliche Ore, Underground Brines, and Seaweed), By Application (X-RayContrast Media, Pharmaceuticals, Optical Polarization Films, IndustrialCatalyst, Animal Feed, Fluorochemicals, Iodophors, Human Nutrition, Biocidesand Others), and Regional Forecast, 2020-2027, the market wasworth USD 915.9 million and will exhibit a CAGR of 4.4% during the forecastperiod, 2020-2027.
List of the Leading Companies Profiled in the Global IodineMarket are:
- Cosayach Compañía De Salitre Y Yodo (Chile)
- Nippoh Chemicals Co., Ltd (Japan)
- Kanto Natural Gas Development Co., Ltd. (Japan)
- Toho Earthtech Co., Ltd. (Japan)
- GODO SHIGEN Co., Ltd. (Japan)
- SQM S.A. (Chile)
- Iofina plc (UK)
- ISE CHEMICALS CORPORATION (Japan)
- IOCHEM Corporation (USA)
- Algorta Norte SA (Chile)
- Other Players
The increasing research activities associated with iodine and itsapplications across diverse industry verticals will emerge in favor of growthof the global market. Accounting to the increasing applications of theproduct, there are several large scale companies operating across theworld. The increasing applications and subsequently rising product demandwill create a platform for growth for the companies operating in the market.
Shutdowns in Manufacturing Units will have a Negative Impact onMarket Growth
The recent coronavirus outbreak has had a negative impact onseveral industries across the world. Due to the strict measures taken to curbthe spread of the disease, companies are looking to operate remotely or througha constrained operative environment. Accounting to the rapid spread of thedisease, companies are looking to implement strict measures to operate at minimumrisks. The shutdowns in manufacturing units have had an adverse impact onmanufacturers in the iodine market. Moreover, lack of laborers and inadequateworkforce will bring mining and extraction activities to a complete halt.
Iodine is a type of mineral that is naturally found in oceanicwater bodies or oil. It is widely used as a catalyst in polymermanufacturing due to its favorable properties. The product is also used as anadditive in animal feed. The growing awareness regarding the consumptionof iodine in specified amounts will reduce the side effect of excessconsumption.
Study Period: 2016-2027
Base Year: 2019
Forecast Period: 2020-2027
Historical Period: 2016-2018
Applications across Diverse Industry Verticals will Emerge inFavor of Market Growth
The report highlights a few of the major industry developments ofrecent times and discusses their impact on the global market. Theincreasing applications of iodine across diverse industry verticals havecertainly encouraged companies to invest more in the R&D section. Thepresence of several large scale companies provides impetus to the growth of themarket.
Iodine is not just used in medical applications but also incosmetics food and beverages and other large scale sectors. Although medicalproperties have been highlighted, the substance is also widely used incosmetics as a coloring agent due to its elusive color. Their increasinginvestments in RMD will widen the application scope of the product in thecoming years. Iodine is said to have exceptional medical propertiesalthough excessive consumption can also have a few negative effects.
Europe to Emerge Dominant; Increasing Healthcare Expenditure toBode well for Market Growth
The report analyzes the ongoing market Trends across five majorregions. Among all regions, the market in Europe is expected to hold thelargest market share in the coming years. The presence of several large scales,as well as regional companies in countries such as Germany, France, and the UK,will contribute to the growth of the market. The increasing healthcareexpenditure will also have a positive impact on the growth of the regionalmarket. As of 2019, the market in Europe was worth USD 360.9 million, and thisvalue is projected to rise at a considerable pace in the coming years. BesidesEurope, the market in North America will rise at a considerable pace driven bythe increasing demand for the product in this region.
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Key Questions Answered:
Why Choose Fortune Business Insights?
What are the key demands and trends shaping the market?
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What is the market size and growth rate of the market for selective countries?
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What Factors are estimated to drive and restrain the market growth?
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/iodine-market-103889
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