United States Iodine Market Size (2024 - 2029)

The United States iodine market is experiencing growth, driven primarily by increased demand from the medical sector, particularly following significant investments in healthcare post-COVID-19. Despite the pandemic's initial negative impact on sales across various segments, the need for iodine in medical applications surged. However, concerns over health risks associated with excessive iodine intake pose challenges to market expansion. Nonetheless, iodine recycling presents a promising opportunity for future market development.

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Market Size of United States Iodine Industry

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United States Iodine Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.00 %
Market Concentration High

Major Players

United States Iodine Market Major Players

*Disclaimer: Major Players sorted in no particular order

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US Iodine Market Analysis

The United States iodine market was estimated at around 8403.37 tons in 2021 and the market is estimated to register a CAGR of more than 3% during the forecast period (2022-2027).

The COVID-19 pandemic impacted the market in 2020. As a result of months of lockdowns, international travel bans, and retail business closures, sales, purchases, and usage fell across many end-user segments. However, the demand for iodine increased for end-user applications like medical, etc. during the pandemic.

  • A major factor driving the market studied is the increasing demand from the medical sector, particularly after huge investments in the healthcare sector post the emergence of COVID-19.
  • On the flip side, rising concerns about increasing health risks from excessive iodine intake are restraining the market growth.
  • Iodine recycling is a major opportunity for the market studied in the future.

US Iodine Industry Segmentation

Iodine is a trace element that is naturally present in some foods, added to some types of salt, and available as a dietary supplement. The United States iodine market is segmented by source, form, and application. By source, the market is segmented into underground brines, caliche ore, recycling, and seaweeds. By form, the market is segmented into inorganic salts and complexes, organic compounds, elementals, and isotopes. By application, the market is segmented into animal feed, medical, biocides, optical polarizing films, fluorochemicals, nylon, and other applications. The report offers the market size and forecasts in volume (in tons) for all the above segments.

Source
Underground Brines
Caliche Ore
Recycling
Seaweeds
Form
Inorganic Salts and Complexes
Organic Compounds
Elementals and Isotopes
Application
Animal Feed
Medical
Biocides
Optical Polarizing Films
Fluorochemicals
Nylon
Other Applications
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United States Iodine Market Size Summary

The United States iodine market is experiencing a steady growth trajectory, driven primarily by increasing demand from the medical sector. This demand has been bolstered by significant investments in healthcare following the COVID-19 pandemic, which also saw a rise in iodine usage for medical applications despite initial market disruptions. The market is characterized by its reliance on underground brines, a key source of iodine production, which are associated with natural gas and oil deposits. These brines are processed to extract iodine, alongside other minerals like rubidium and cesium. However, the market faces challenges due to health concerns related to excessive iodine intake, which could potentially hinder its growth.

The market landscape is highly consolidated, with major players such as Iochem Corporation, Woodward Iodine Corporation, Iofina, and KIVA Holding Inc. leading the industry. These companies are actively exploring opportunities to expand their production capabilities, as evidenced by Iofina's negotiations to establish a new iodine plant. The demand for iodine is particularly strong in cancer treatment and medical imaging applications, driven by the growing geriatric population and the increasing prevalence of cancer. Despite the challenges, the market presents opportunities for growth, particularly in iodine recycling, which could further enhance its sustainability and supply chain resilience.

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United States Iodine Market Size - Table of Contents

  1. 1. Market Dynamics

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from the Medical Sector

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Health Risks from Excessive Iodine Intake

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Source

      1. 2.1.1 Underground Brines

      2. 2.1.2 Caliche Ore

      3. 2.1.3 Recycling

      4. 2.1.4 Seaweeds

    2. 2.2 Form

      1. 2.2.1 Inorganic Salts and Complexes

      2. 2.2.2 Organic Compounds

      3. 2.2.3 Elementals and Isotopes

    3. 2.3 Application

      1. 2.3.1 Animal Feed

      2. 2.3.2 Medical

      3. 2.3.3 Biocides

      4. 2.3.4 Optical Polarizing Films

      5. 2.3.5 Fluorochemicals

      6. 2.3.6 Nylon

      7. 2.3.7 Other Applications

United States Iodine Market Size FAQs

The United States Iodine Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Iochem Corporation, WOODWARD Iodine CORPORATION , Iofina and KIVA Holding Inc are the major companies operating in the United States Iodine Market.

United States Iodine Report Snapshots

US Iodine Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)