Market Size of Iodine Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 40.64 kilotons |
| Market Volume (2029) | 52.88 kilotons |
| CAGR (2024 - 2029) | 5.41 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Iodine Market Analysis
The Iodine Market size is estimated at 40.64 kilotons in 2024, and is expected to reach 52.88 kilotons by 2029, growing at a CAGR of 5.41% during the forecast period (2024-2029).
The COVID-19 outbreak, nationwide lockdowns worldwide, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market. However, the demand from the medical industry and recovery conditions in 2021 restored the market's growth trajectory during the forecast period.
- Over the short term, the increasing demand for X-ray contrast media, growing iodine deficiency among people, and vast applications of iodine derivatives are expected to drive the demand for iodine.
- However, the toxicity of iodine and health-related issues due to excessive consumption pose major restraints in the market studied.
- Nevertheless, the rising demand for biocides is expected to act as an opportunity.
- By application, the medical sector is expected to dominate the market, owing to the increase in the usage of iodine to cure diseases like goiter.
- Europe dominates the global iodine market, with major consumption in countries such as Germany, the United Kingdom, and France.
