Iodine Market Demand Analysis in 2020, Global Revenue, Top Companies Growth Forecast to 2027
The
global ''iodine
market'' size is projected to reach USD 1,283.0 million by
the end of 2027. The increasing applications of the product will bode well for
market growth. According to a report published by Fortune Business Insights,
titled “Iodine Market Size, Share &
COVID-19 Impact Analysis, By Source (Caliche Ore, Underground Brines, and
Seaweed), By Application (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
market was worth USD 915.9 million and will exhibit a CAGR of 4.4% during the
forecast period, 2020-2027.
List of the Leading Companies Profiled in 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
The
increasing research activities associated with iodine and its applications
across diverse industry verticals will emerge in favor of growth of the global
market. Accounting to the increasing applications of the product, there
are several large scale companies operating across the world. The
increasing applications and subsequently rising product demand will create a
platform for growth for the companies operating in the market.
Shutdowns in Manufacturing Units will have a Negative Impact on
Market Growth
The
recent coronavirus outbreak has had a negative impact on several industries
across the world. Due to the strict measures taken to curb the spread of the
disease, companies are looking to operate remotely or through a constrained
operative environment. Accounting to the rapid spread of the disease, companies
are looking to implement strict measures to operate at minimum risks. The
shutdowns in manufacturing units have had an adverse impact on manufacturers in
the iodine market. Moreover, lack of laborers and inadequate workforce will
bring mining and extraction activities to a complete halt.
Iodine
is a type of mineral that is naturally found in oceanic water bodies or
oil. It is widely used as a catalyst in polymer manufacturing due to its
favorable properties. The product is also used as an additive in animal
feed. The growing awareness regarding the consumption of iodine in
specified amounts will reduce the side effect of excess consumption.
Applications across Diverse Industry Verticals will Emerge in
Favor of Market Growth
The
report highlights a few of the major industry developments of recent times and
discusses their impact on the global market. The increasing applications
of iodine across diverse industry verticals have certainly encouraged companies
to invest more in the R&D section. The presence of several large scale
companies provides impetus to the growth of the market.
Iodine
is not just used in medical applications but also in cosmetics food and
beverages and other large scale sectors. Although medical properties have been
highlighted, the substance is also widely used in cosmetics as a coloring agent
due to its elusive color. Their increasing investments in RMD will widen
the application scope of the product in the coming years. Iodine is said
to have exceptional medical properties although excessive consumption can also
have a few negative effects.
Europe to Emerge Dominant; Increasing Healthcare Expenditure to
Bode well for Market Growth
The
report analyzes the ongoing market Trends across five major regions.
Among all regions, the market in Europe is expected to hold the largest market
share in the coming years. The presence of several large scales, as well as
regional companies in countries such as Germany, France, and the UK, will
contribute to the growth of the market. The increasing healthcare expenditure
will also have a positive impact on the growth of the regional market. As of
2019, the market in Europe was worth USD 360.9 million, and this value is
projected to rise at a considerable pace in the coming years. Besides Europe,
the market in North America will rise at a considerable pace driven by the
increasing demand for the product in this region.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/iodine-market-103889
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