- In October 2023, Iofina announced its strategic plans to construct its 10th iodine extraction plant in a new location in Oklahoma. This expansion reflects the company's commitment to increasing iodine production to meet rising demand in various applications. The new facility is expected to leverage Iofina’s proprietary extraction technology, further solidifying its position as a key player in the global iodine market
- In June 2023, Iofina successfully commissioned its 6th iodine extraction plant in Oklahoma, utilizing its proprietary production technology to enhance efficiency. Following this, the company ramped up production, benefitting from consistently high iodine prices throughout the year. This operational success translated into increased profitability for Iofina in 2023, allowing the company to solidify its market presence and expand its capabilities in iodine extraction
- In May 2023, REMONDIS SE & Co. KG, based in Germany, commissioned a pioneering new plant aimed at recovering iodine from flue gas produced during the incineration of hazardous waste. This initiative is part of REMONDIS’s sustainability goals, contributing to the circular economy by promoting responsible waste management. The innovative technology employed at the plant not only enhances resource recovery but also supports environmental protection efforts
- In October 2022, SQM S.A. solidified its position in the iodine market by signing a multi-year agreement with GE Healthcare to supply iodine for contrast media applications. This partnership is critical as iodine plays a vital role in supporting Computed Tomography (CT) imaging procedures and X-ray contrast media products. The agreement ensures a consistent year-on-year supply of iodine, enhancing SQM's product offerings in the healthcare sector
- In March 2022, in response to the heightened security concerns following Moscow's invasion of Ukraine, the European Commission accelerated plans to enhance the EU's health response to potential nuclear incidents. Efforts include persuading EU member states to stockpile essential supplies such as iodine pills and protective clothing. This initiative aims to bolster public safety and preparedness in the face of possible nuclear threats in the region
- In February 2022, Tata Consumer Products launched 'Shuddh By Tata Salt,' a new iodized salt brand targeting regional markets in India. This product is designed to provide consumers with affordable access to high-quality iodized salt, which is essential for preventing iodine deficiency. By introducing Shuddh, Tata aims to cater to health-conscious consumers while enhancing its portfolio in the competitive salt market across the country
Frequently Asked Questions
The market is segmented based on Segmentation, By Source (Underground Brines, Seaweeds, Caliche Ore, and Recycling), Form (Inorganic Salts and Complexes, Elemental and Isotopes and Organic Compound), Application (Pharmaceuticals, Biocides, Iodophors, X-Ray Contrast Media, Catalyst in Polymer Processing, Optical Polarizing Films, Human Nutrition, Fluorochemicals, Animal Feed and Others) - Industry Trends and Forecast to 2031
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The Global Iodine Market size was valued at USD 1.10 USD Billion in 2023.
The Global Iodine Market is projected to grow at a CAGR of 5.4% during the forecast period of 2024 to 2031.
The major players operating in the market include SQM S.A, ISE CHEMIVALS CORPORATION, IOCHEM Algorta Norte, NIPPOH CHEMICALS CO.LTD, Kanto Natural Gas Development Co. , GODO SHIGEN Co Ltd, TOHO EARTH TECH , Deep Water Chemicals , Toyota Tsusho Corporation, AJAY-SQM Group, AZER-YOD LLC, ACF Minera S.A, Prachi Pharmaceuticals Private Limited, Salvi Chemicals Industries Ltd, among others.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
