Iodine Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights
IodineMarket will exhibit a CAGR of 4.4% during the forecast period, and reachUSD 1,283.0 million by 2027, and the Market value as per 2019 was USD915.9 million.
FortuneBusiness Insights™ in a new report, titled, “Iodine Market Size, Share& COVID-19 Impact Analysis, By Source (Caliche Ore, Underground Brines, andSeaweed), By Application (X-Ray Contrast Media, Pharmaceuticals, OpticalPolarization Films, Industrial Catalyst, Animal Feed, Fluorochemicals,Iodophors, Human Nutrition, Biocides, and Others), and Regional Forecast,2020-2027.”
Iodine Market Drivers and Restraint:
Rising Awareness Amongst Consumers Regarding the Deficiency ofIodine will Lead to a Wider Product Consumption
Risingawareness among consumers in developing countries regarding the deficiency willhave a positive impact on the market. It regulates the hormone levels in humansand is responsible for the healthy functioning of thyroid gland. It also playsa vital role in the neurodevelopment of the fetus. The growing attentivenesstowards human health in developing countries will lead to market growth andforecasts. Additionally, the initiatives taken by the government andnon-government organizations to make it a part of the diet for economicallyweaker sections of society will support the growth of the market. Furthermore,increasing use in optical polarizing film for applications in LCD willcontribute to the growing demand.
RESTRAINING FACTORS
Toxic Effects Associated with the Consumption of Iodine to ImpedeGrowth
Consumingiodine over the specified levels can lead to poisoning. The detrimental effectsof the poisoning include diarrhea, nausea, swelling of airways, cyanosis, andweakening of pulse. The intake of excessive iodine can also inducehyperthyroidism which is dangerous, especially for a person with severe heartconditions. The aforementioned factors along with low awareness among consumersact as a restraint for the market.
List of Key Players Covered in the Iodine Market Report:
- 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
To gain more insights into the market with a detailed tableof content and figures, Click Here: https://www.fortunebusinessinsights.com/iodine-market-103889
Some of the key industry developments in the IodineMarket Include:
- May 2018 – Bekaert announced to cease all Dramix steel fiber manufacturing activities in Orotina, Costa Rica and to close Bekaert Costa Rica SA, the respective company. The entity's high cost base and increased competitive price pressure in the construction markets served in Latin America have affected the financial performance of the plant to a level that is no longer sustainable.
