World News: 12:49 GMT Wednesday 15th May 2019. [Market Research Future via Globe Newswire via SPi World News]
Pune, India, May 15, 2019 (GLOBE NEWSWIRE) --
The Global Iodine Market can reach to a valuation of USD 1,073.7 million by 2023, displaying a stupendous CAGR of 4.89% during the forecast period (2018-2023). The market demand is touted to reach a high of 44,1471.1 tons by 2023.
Iodine is an element with multiple uses across numerous industries. From being used in the medical sector in treating cancer to being used as a catalyst in the chemical sector, Iodine is multi-faceted.
The sharp rise in Iodine deficiency cases is slated to work in favor the market. Government campaigns aimed at creating awareness of thyroid and Iodine deficiency disorders can work wonders for manufacturers leading to a spike in demand. The need for X-ray contrast agents for discerning the presence of diseases such as cancer, diabetes, and others is the primary driver of the market. The clarity it provides to images of internal organs is likely to work favorably for the market. The Iodine Market can bank on the production of LCDs to attain a constant state of demand. Iodine is being used in polarizers to provide users with the right viewing environment. The stress placed on TV or display manufacturers can work in the advantage of Iodine manufacturers.
Adverse effects of Iodine can negatively impact market growth.
Key Players involved in the market are Godo Shigen Co. Ltd, Independent Iodine, Itochu Chemical Frontier Corporation, Deepwater Chemicals, Iochem Chemicals Corporation, Zen Chemicals, Calibre Chemicals Pvt. Ltd., Glide Chem Pvt. Ltd., ISE Chemical Corporation, and Iofina. The Iodine Market is engulfed with expansions, collaborations, mergers, and acquisitions.
Iodine Recycling is on the uptick due to concerns of producers regarding reserves of the element. Various companies have entered the recycling sector to extract iodine from end-use products, while others have integrated it into their production cycle to save on manufacturing costs. A prime example is the Godo Shigen Company which relies on its patented high-temperature decomposition method to attain aqueous solutions of iodine.
Browse the market data and information spread across 100 pages with 174 data tables and 16 figures of the report in-depth alongside table of content (TOC) at:
Geographical mapping of the Iodine Market covers namely North America, Asia Pacific (APAC), Europe, Latin America (LATAM), and the Middle East & Africa (MEA).
The Europe region is expected to be the prime destination of investment for the Iodine Market. This can be credited to awareness campaigns of iodine deficiency and mandatory consumption of iodized salts. Advances in medical diagnostic techniques and improved healthcare infrastructure designed to identify diseases at a preventive stage can work favorably for the market. It is touted to reach a size of USD 335.4 million by the end of the forecast period.
The North America can reach a value of USD 214.1 million by 2023 due to drivers similar to Europe. Iodine extraction is in full swing due to access of producers to natural brines. For instance, Anson Resources has gained permission for extraction of the element in Utah, U.S. The success of assays and tests could culminate in more than 75% drawing out of iodine.
The APAC region is projected a valuation of USD 311.2 million by 2023, displaying a CAGR of 6.07% over the assessment period. Emerging economies of China and India and supportive healthcare policies can transform the regional scenario making it ripe for investment.
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Globe Newswire: 12:49 GMT Wednesday 15th May 2019
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