Iodine Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
The global iodine market size is projected to reach USD1,283.0 million by the end of 2027. The increasing applications of the productwill bode well for market growth. According to a report published by FortuneBusiness Insights, titled “Iodine Market Size, Share & COVID-19Impact Analysis, By Source (Caliche Ore, Underground Brines, and Seaweed), ByApplication (X-Ray Contrast Media, Pharmaceuticals, Optical Polarization Films,Industrial Catalyst, Animal Feed, Fluorochemicals, Iodophors, Human Nutrition,Biocides and Others), and Regional Forecast, 2020-2027, the marketwas worth USD 915.9 million and will exhibit a CAGR of 4.4% during the forecastperiod, 2020-2027.
Shutdowns in Manufacturing Units willhave a Negative Impact on Market Growth
The recent coronavirus outbreak has hada negative impact on several industries across the world. Due to the strictmeasures taken to curb the spread of the disease, companies are looking tooperate remotely or through a constrained operative environment. Accounting tothe rapid spread of the disease, companies are looking to implement strictmeasures to operate at minimum risks. The shutdowns in manufacturing units havehad an adverse impact on manufacturers in the iodine market. Moreover, lack oflaborers and inadequate workforce will bring mining and extraction activitiesto a complete halt.
Iodine is a type of mineral that isnaturally found in oceanic water bodies or oil. It is widely used as acatalyst in polymer manufacturing due to its favorable properties. The productis also used as an additive in animal feed. The growing awarenessregarding the consumption of iodine in specified amounts will reduce the sideeffect of excess consumption.
The increasing research activitiesassociated with iodine and its applications across diverse industry verticalswill emerge in favor of growth of the global market. Accounting to theincreasing applications of the product, there are several large scale companiesoperating across the world. The increasing applications and subsequentlyrising product demand will create a platform for growth for the companiesoperating in the market.
Applications across Diverse IndustryVerticals will Emerge in Favor of Market Growth
The report highlights a few of themajor industry developments of recent times and discusses their impact on theglobal market. The increasing applications of iodine across diverseindustry verticals have certainly encouraged companies to invest more in theR&D section. The presence of several large scale companies provides impetusto the growth of the market.
Iodine is not just used in medicalapplications but also in cosmetics food and beverages and other large scalesectors. Although medical properties have been highlighted, the substance isalso widely used in cosmetics as a coloring agent due to its elusivecolor. Their increasing investments in RMD will widen the applicationscope of the product in the coming years. Iodine is said to haveexceptional medical properties although excessive consumption can also have afew negative effects.
List of the Leading Companies Profiledin the Global Iodine Market 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
Europe to Emerge Dominant; IncreasingHealthcare Expenditure to Bode well for Market Growth
The report analyzes the ongoing marketTrends across five major regions. Among all regions, the market in Europeis expected to hold the largest market share in the coming years. The presenceof several large scales, as well as regional companies in countries such asGermany, France, and the UK, will contribute to the growth of the market. Theincreasing healthcare expenditure will also have a positive impact on thegrowth of the regional market. As of 2019, the market in Europe was worth USD360.9 million, and this value is projected to rise at a considerable pace inthe coming years. Besides Europe, the market in North America will rise at aconsiderable pace driven by the increasing demand for the product in thisregion.
Browse Detailed Summary of ResearchReport with TOC:
https://www.fortunebusinessinsights.com/iodine-market-103889
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Market Trends in the Global Market
- Key Developments: Mergers, Acquisition, Partnership, etc. .
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights Impact of COVID 19 on Global Iodine Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Iodine Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Source
- Caliche Ore
- Underground Brines
- Seaweed
- By Application
- X-Ray Contrast Media
- Pharmaceutical
- Optical Polarization Films
- Industrial Catalyst
- Animal Feed
- Fluorochemicals
- Iodophores
- Human Nutrition
- Biocides
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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