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 |
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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.
