Iodine Market will exhibit a CAGR of 4.4% during the forecast period, and reach USD 1,283.0 million by 2027, and the Market value as per 2019 was USD 915.9 million.
Fortune Business Insights™ in a new report, 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.”
Iodine Market Drivers and Restraint:
Rising Awareness Amongst Consumers Regarding the Deficiency of Iodine will Lead to a Wider Product Consumption
Rising awareness among consumers in developing countries regarding the deficiency will have a positive impact on the market. It regulates the hormone levels in humans and is responsible for the healthy functioning of thyroid gland. It also plays a vital role in the neurodevelopment of the fetus. The growing attentiveness towards human health in developing countries will lead to market growth and forecasts. Additionally, the initiatives taken by the government and non-government organizations to make it a part of the diet for economically weaker sections of society will support the growth of the market. Furthermore, increasing use in optical polarizing film for applications in LCD will contribute to the growing demand.
Toxic Effects Associated with the Consumption of Iodine to Impede Growth
Consuming iodine over the specified levels can lead to poisoning. The detrimental effects of the poisoning include diarrhea, nausea, swelling of airways, cyanosis, and weakening of pulse. The intake of excessive iodine can also induce hyperthyroidism which is dangerous, especially for a person with severe heart conditions. The aforementioned factors along with low awareness among consumers act as a restraint for the market.
List of Key Players Covered in the Iodine Market Report:
- 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
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/iodine-market-103889
Some of the key industry developments in the Iodine Market Include:
- May 2018 – Bekaert announced to cease all Dramix steel fiber manufacturing activities in Orotina, Costa Rica and to close Bekaert Costa Rica SA, the respective company. The entity's high cost base and increased competitive price pressure in the construction markets served in Latin America have affected the financial performance of the plant to a level that is no longer sustainable.