Iodine: A Global Strategic Business Report
San Jose, CA (PRWEB) June 14, 2013
Follow us on LinkedIn – Iodine finds versatile applications spanning almost every industry from medicine and nutrition to electronics and water disinfection. The global iodine market is currently witnessing steady growth that is expected to continue in the coming years. Growing world population accompanied by a higher number of aging individuals and increasing demand from end-use applications, both existing and new, represent key growth drivers. Among conventional applications, x-ray contrast media, animal feed and pharmaceuticals are expected to drive iodine consumption. Usage in optical polarizing films, digital imaging, agricultural fungicides and biocides, among others, comprise the newer end-use applications fueling demand for Iodine. Iodine’s use as a nutrient supplement is also expected to add additional impetus to annual demand, driven by the growing awareness among today’s health conscious consumers about Iodine’s invaluable dietary benefits. Iodine acts as an excellent antidote for common iodine deficiency disorders (IDD) such as goiter and thyroid ailments.
In terms of production, Chile represents the largest producer of Iodine worldwide, followed by Japan and the US. Iodine production in Chile, based on caliche deposits, is cost effective compared to other countries where Iodine is sourced from brine. However, water shortages faced by certain companies are impacting production levels in the country. Given the supply shortages for Iodine in the global market, Iodine recycling is gaining paramount importance. The quantity of secondary Iodine, extracted primarily by recycling used OPF and waste x-ray contrast media, is increasing.
Growth in the iodine market witnessed signs of slowdown from the last quarter of 2007 leading to a decline in 2009, driven by reduction in demand in key end-use markets of animal feed, industrial applications, among others. Consumption of Iodine in the manufacture of optical polarizing films (OPFs) for LCD screens also plummeted during the period. The tsunami and earthquake that ravaged Japan in 2011 also impacted demand. Most of Japan’s Iodine producing sites were situated in the region affected by the earthquake and tsunami thereby affecting production. With the country supplying about 34.9% of the world’s Iodine, the natural calamity significantly impacted availability. The situation improved in 2012 with the market witnessing higher Iodine supply from new mines and capacity expansions in existing mines in Chile. Consumption of Iodine by traditional end-use segments has regained pace with improving economic conditions and is expected to grow steadily in the coming years. Additionally, as bromine-based herbicides are withdrawn from the market, Iodine is expected to find increasing use in herbicides.
As stated by the new market research report on Iodine, the United States represents the single largest market worldwide. Demand in the country is met largely through imports from Chile and Japan. Asia-Pacific represents the fastest growing market with a projected CAGR of 5.7% over the analysis period. With elimination of IDD becoming the primary focus of countries in Asia-Pacific, particularly India and China, consumption of iodized salt is expected to significantly increase in the next few years thereby increasing the region’s demand for Iodine. Human health represents the largest end-user market, wherein X-ray contrast media accounts for majority of the demand. Optical Polarizing Films, used in LCDs, represent the fastest growing segment.
Major players covered in the report include Godo Shigen Sangyo Co., Ltd., Iofina Plc., Ise Chemicals Corporation, Mitsui & Co., Ltd., Nippoh Chemicals Co., Ltd., Sirocco Mining, Inc., Sociedad Quimica Y Minera de Chile S.A. (SQM), and Toyota Tsusho Corporation, among others.
The research report titled “Iodine: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for Iodine (in Metric Tons) for geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East and Latin America. End-use applications analyzed in the report include Animal Feed, Human Health Applications (X-Ray Contrast Media, Biocides/Iodophors, Pharmaceuticals, and Nutrition), Industrial Applications (Optical Polarizing Film (OPF), Catalysts and Stabilizers) and Others.
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