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Iodine Market Size SWOT Analysis And Growth Strategies By Top Companies 2023-2031

Iodine Market Size SWOT Analysis And Growth Strategies By Top Companies 2023-2031

The recent analysis by Report Ocean on the Global Iodine Market Report 2022 revolves around various aspects of the market, including characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, strategies, etc. It also includes COVID-19 Outbreak Impact, accompanied by traces of the historic events. The study highlights the list of projected opportunities, sales and revenue on the basis of region and segments. Apart from that, it also documents other topics such as manufacturing cost analysis, Industrial Chain, etc. For better demonstration, it throws light on the precisely obtained data with the thoroughly crafted graphs, tables, Bar & Pie Charts, etc.

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Iodine is a rare element found naturally in the earth’s crust and is extracted from brine, seaweed, and caliche ore. It is one of the most important nutrients required to produce thyroid hormones. Iodine plays a key role in human as well as animal nutrition and is used in X-ray contrast media as a tracer radioactive.

The global iodine market was valued at USD 778.8 million in 2017 and is projected to register a steady CAGR of 4.89% to reach USD 1,073.7 million by the end of 2023. In terms of volume, the global market was sized at 33,784.8 tonnes in 2017 and is expected to reach 44,1471.7 tonnes by 2023 at a rate of 4.22% from 2018 to 2023. The growth of the global market is mainly driven by the growing need for X-ray contrast media in the healthcare industry on account of the rising prevalence of cardiac diseases, diabetes, cancer, and psychiatric illnesses.

Adiditionally, iodine in its crystal form is used in manufacturing polarizers for liquid crystal displays (LCDs). The high demand for iodine-based polarizers is attributed to the wide use of LCD in modern visual technologies such as digital watches, computer screens, calculators, digital cameras, and television screens. Furthermore, the implementation of various government initiatives such as the National Animal Nutrition Program to eliminate iodine deficiency in humans and animals is expected to drive the global iodine market during the review peirod. However, the toxicity associated with the excessive intake of iodine is likley to hamper the global market growth.
The increasing use of iodine in formulation of povidone-iodine, which is used in antiseptic as well as in productio of nylon 6 and nylon 66 is expected to create a growth opportunity for the players operating in the global market.

The manufacturers are focusing on capacity expansions and recycling of iodine, along with other strategic growth initiatives such as agreements, investments, and joint ventures. For instance, in 2017, Godo Shigen Co. Ltd completed the construction of a new blowing-out tower at the Chiba Works plant of Sumitomo Chemical Co. Ltd for the manufacturing of iodine compounds.

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Key Players

Some of the key players operating in the global iodine market are Independent Idoine (Belgium), Calibre Chemicals Pvt. Ltd (India), Zen Chemicals (India), Cosayach (Chile), Deepwater Chemicals (US), Eskay Iodine Private Limited (India), Glide Chem Private Limited (India), GODO SHIGEN Co. Ltd (Japan), ISE CHEMICALS CORPORATION (Japan), ISR HOLDING (Azerbaijan), Iochem Corporation (US), Iofina (US), ITOCHU CHEMICAL FRONTIER Corporation (Japan), and JSC Isotope (Russia).

Scope of the Report:

This comprehensive analysis delves into the effects of COVID-19 on the worldwide market, offering insights from both a global and regional viewpoint. The financial landscape of the industry saw a valuation of millions in 2022, which surged to its peak in 2023, and is projected to achieve another pinnacle by 2031, demonstrating a remarkable compound annual growth rate (CAGR) for the period between 2023 and 2031. The study places a strong emphasis on a detailed market assessment of the impact of COVID-19, presenting strategic response plans tailored to diverse regions, including North America, Europe, China, and Japan.

Some Important Questions Answered in Market Report:

  • What will be the market growth rate, overview, and analysis by type in 2031?
  • What are the primary factors influencing market dynamics?
  • What are the drivers, challenges, and business risks in the market?
  • What are the overall market dynamics? Does the overview include scope analysis and price analysis of key manufacturer profiles?
  • What are the opportunities, risks, and driving forces in the market?
  • Who are the main manufacturers in the market?
  • What factors are driving and limiting this industry?
  • What are the conditions for market growth?
  • What are the industry opportunities and segment risks faced by major vendors?
  • What are the strengths and weaknesses of the main providers?

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