From 2021 to 2028, the Iodine Market is expected to increase at a CAGR of 4.49 percent, from USD 631.87 million in 2020 to USD 890.70 million in 2028.
Adult iodine deficiency is a prominent concern around the world, and the rising prevalence of iodine deficiency is moving the Global Iodine Market forward. The Global Iodine Market study offers a comprehensive analysis of the industry. The research includes a detailed analysis of key segments, trends, drivers, constraints, the competitive landscape, and other important market variables.
Definition of the Global Iodine Market
Iodine is a nonmetallic solid with a beautiful purple-black colour. At 114 degrees, the iodine begins to melt and forms a rich violet liquid. It also boils at 184 degrees Celsius, emitting violet vapour. Chile and Japan are the two countries that produce the most iodine. In nutrition, iodine and its compounds are widely employed. Because of its high atomic number and ease of attachment to organic molecules, iodine is also used as a harmless radiocontrast substance. Thyroid cancer is also treated using radioactive isotopes of iodine.
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Overview of the Iodine Market in the World
The growth of the global iodine market is linked to the GDP of various countries in an indirect way. Human nutrition, biocides, and industrial applications all employ iodine. To meet the needs of the growing population, regions such as North America, Latin America, and Asia Pacific are manufacturing iodine in large quantities. This product will become more popular over time, and the Iodine Market will expand at an exponential rate. Adult iodine deficiency is a prominent concern around the world, and the rising prevalence of iodine deficiency is moving the Global Iodine Market forward.
In addition, the government is promoting the use of iodine in animal feed additives and human nutrition. However, various restrictions are limiting the Global Iodine Market’s growth. The issue of toxicity associated with iodine and its derivative use is limiting the Global Iodine Market’s growth. The Global Iodine Market will experience difficulties due to shifting iodine costs.
Key Players of Iodine Market
The “Global Iodine Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are SQM, Cosayach Compañía De Salitre Y Yodo., Iofina PLC, Nippoh Chemicals Co., Ltd., Kanto Natural Gas Development Co., Ltd., Toho Earthtech Co., Ltd., Godo Shigen Co., Ltd, ISE Chemicals Corporation, Iochem Corporation, Algorta Norte Sa. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Product Introductions and Expansions
• In February 2020, the UK National Institute for Health and Care Excellence (NICE) published a regulation indicating that radioactive iodine has a 90 percent success rate in the treatment of hyperthyroidism.
• In January 2020, Voyageur Pharmaceuticals Ltd., a leading medicine manufacturing firm based in Canada, reported that iodine and barium play a critical role in X-ray imaging diagnostics.