Market Size of China Inorganic Iodide Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
China Inorganic Iodide Market Analysis
The Chinese inorganic iodide market is projected to register a CAGR of over 3.5% during the forecast period.
The COVID-19 pandemic, which forced the shutting down of many manufacturing units owing to prolonged lockdowns and strict social distancing norms, hindered the demand for the inorganic iodide market. A slowdown in the manufacturing of LCD panels and X-ray media and challenges associated with food and animal feed production hampered the growth of the studied market.
With the economy recovering from the COVID-19 pandemic, the growing pharmaceutical industry and the rising awareness regarding hyperthyroidism are expected to be the factors driving the demand in the region. The manufacturing sector is now reaching the pre-COVID-19 activity level, and the demand for inorganic iodides is expected to rise from X-ray media manufacturing units and the food and animal feed production segments.
The shift from LCD panels to DQ (dot quantum) screens may hamper the demand in the long term, especially with Samsung, one of the largest LCD panel manufacturers, slowly moving away from LCD panels to DQ panels. Health concerns associated with the use of inorganic iodides too may pose as hindrance to the market growth.
However, the research and development of potential applications of inorganic iodides in various industries is expected to create opportunities for rise in the demand in the long-term.
China Inorganic Iodide Industry Segmentation
Iodine forms iodide compounds with almost all elements except for inert elements. The most important class of iodine compounds is commercially available inorganic iodides. Hydriodic acid, sodium iodide, potassium iodide, and potassium iodate are the inorganic iodides discussed in this report. The Chinese inorganic iodide market is segmented by product and application. By product, the market is segmented into potassium iodide, sodium iodide, potassium iodate, hydroiodic acid, and other products. By application, the market is segmented into animal feed and nutraceuticals, pharmaceuticals and medical, optical polarizing films, industrial chemicals, and other applications. For all the above segments, market sizing and forecasts have been provided on the basis of volume (tons).
| By Product | |
| Potassium Iodide | |
| Sodium Iodide | |
| Potassium Iodide | |
| Hydroiodic Acid | |
| Other Products |
| By Application | |
| Animal Feed and Nutraceuticals | |
| Pharmaceuticals and Medical | |
| Optical Polarizing Films | |
| Industrial Chemicals | |
| Other Applications |
China Inorganic Iodide Market Size Summary
The Chinese inorganic iodide market is poised for growth, driven by the recovery of the economy post-COVID-19 and the expanding pharmaceutical industry. The market experienced setbacks during the pandemic due to manufacturing disruptions and decreased demand in sectors like LCD panels and X-ray media. However, as manufacturing activities return to pre-pandemic levels, the demand for inorganic iodides is expected to rise, particularly in the pharmaceutical sector, where these compounds are crucial for various medical applications. The increasing awareness of hyperthyroidism and the potential applications of inorganic iodides in research and development are anticipated to further bolster market growth. Despite challenges such as the shift from LCD panels to DQ screens and health concerns related to inorganic iodides, the market is expected to find new opportunities in diverse industrial applications.
Inorganic iodides play a significant role in the animal feed and nutraceuticals sectors, with China being a major producer of animal feed globally. The demand for inorganic iodides is expected to grow alongside the increasing production of dairy products, eggs, and meat, driven by the nutritional benefits of iodide salts. The pharmaceutical industry in China, one of the largest in the world, also contributes to the demand for inorganic iodides, with these salts being integral to the production of various pharmaceutical compounds. The market is characterized by a few key players, including SQM SA and Shandong Boyuan Pharmaceutical & Chemical Co., Ltd., and is expected to continue its growth trajectory, supported by the robust development of the pharmaceutical and animal feed industries.
China Inorganic Iodide Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the Pharmaceutical Industry
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1.1.2 Growing Animal Feed Industry in China
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1.2 Restraints
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1.2.1 Health-related Side-effects of Inorganic Iodides
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 By Product
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2.1.1 Potassium Iodide
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2.1.2 Sodium Iodide
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2.1.3 Potassium Iodide
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2.1.4 Hydroiodic Acid
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2.1.5 Other Products
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2.2 By Application
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2.2.1 Animal Feed and Nutraceuticals
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2.2.2 Pharmaceuticals and Medical
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2.2.3 Optical Polarizing Films
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2.2.4 Industrial Chemicals
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2.2.5 Other Applications
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China Inorganic Iodide Market Size FAQs
What is the current China Inorganic Iodide Market size?
The China Inorganic Iodide Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in China Inorganic Iodide Market?
SQM SA, Godo Shigen Co. Ltd., Shandong Boyuan Pharmaceutical & Chemical Co., Ltd, Nippoh Chemical Co., Ltd. and Independent Iodine China Ltd. are the major companies operating in the China Inorganic Iodide Market.
