Global Consumption of Iodine is Projected to Reach 36.9 Thousand Metric Tons by 2020

Persistent Iodine Deficiency in Developing Countries Drives the Global Iodine Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Iodine. Global consumption of Iodine is projected to reach 36.9 thousand metric tons by 2020, driven by persisting iodine deficiency in developing countries and the ensuing legislation of salt iodization programs in iodine-deficient countries in Africa and Asia.

Worldwide over 55 countries continue to remain iodine-deficient, despite the progress made in eliminating micronutrient deficiencies in third world countries. Although the number of countries where iodine-deficiency is a major public health concern has halved over the last decade, few countries in Africa and Asia still continue to require primary intervention for the control of Iodine deficiency disorders (IDD). Iodization of table salt and regular monitoring of iodine nutrition in developing countries, are therefore few of the major factors driving growth in the market. In addition to food fortification, Iodine finds versatile use in almost every industry ranging from medicine, electronics to water disinfection. The expansion into new applications areas will therefore drive future growth in the market. Among conventional applications, x-ray contrast media, animal feed and pharmaceuticals, are expected to drive iodine consumption. Emerging new uses of iodine include use in optical polarizing films, digital imaging, agricultural fungicides and biocides.

Iodine production and supply will continue to remain limited, with production concentrated in the United States, Chile, and Japan. Seaweeds, underground brines, and Caliche continue to remain the major sources for iodine extraction. Faced by supply shortages, recycling of iodine is growing in popularity and is expected to play a pivotal role in bridging the supply deficit gap in the coming years.

As stated by the new market research report on Iodine, Europe represents the largest market worldwide. Unintended reduction in iodine consumption as a result of reduced consumption of salt in diets and shifting preferences for organic salts like Kosher salt and sea salt, are reigniting fears of iodine deficiency in the developed world. Asia-Pacific ranks as the fastest growing market with a projected CAGR of 6% over the analysis period. Increased production and consumption of iodized salt in India and China, is a key factor pushing the region’s demand for Iodine. The healthcare sector represents the largest end-use market, wherein X-ray contrast media accounts for a majority of the global demand. Optical Polarizing Films used in LCDs, represents the fastest growing market segment.

Major players covered in the report include ACF Minera S.A., Algorta Norte S.A., AZER YOD LLC, Godo Shigen Sangyo Co. Ltd., IOCHEM Corporation, Iofina Plc, Ise Chemicals Corporation, Kanto Natural Gas Development Co. Ltd., Nippoh Chemicals Co. Ltd., RB Energy Inc., Sociedad Quimica Y Minera de Chile S.A., Ajay-SQM Group, Toyota Tsusho Corporation, and Deepwater Chemicals Inc., among others.

The research report titled “Iodine: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of industry segments, trends, growth drivers, restraints, market share, size and demand projections and forecasts. Major geographic regions covered include 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 (Brazil and Rest of Latin America). End-use applications analyzed include Animal Feed, Human Health Applications (X-Ray Contrast Media, Pharmaceuticals, and Nutrition), Industrial Applications (Optical Polarizing Film (OPF), and Stabilizers), Biocides/Iodophors and Others. The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.