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The global iodine market reached around USD 3.82 Billion in 2024. The market is projected to grow at a CAGR of 4.30% between 2025 and 2034 to reach nearly USD 5.82 Billion by 2034.
Base Year
Historical Year
Forecast Year
Value in USD Billion
2025-2034
Iodine Market Outlook
*this image is indicative*
Global Iodine Market Report Summary | Description | Value |
Base Year | USD Billion | 2024 |
Historical Period | USD Billion | 2018-2024 |
Forecast Period | USD Billion | 2025-2034 |
Market Size 2024 | USD Billion | 3.82 |
Market Size 2034 | USD Billion | 5.82 |
CAGR 2018-2024 | Percentage | XX% |
CAGR 2025-2034 | Percentage | 4.30% |
CAGR 2025-2034 - Market by Region | Asia Pacific | 5.0% |
CAGR 2025-2034 - Market by Country | India | 5.7% |
CAGR 2025-2034 - Market by Country | Brazil | 5.1% |
CAGR 2025-2034 - Market by Source | Recycling | 4.8% |
CAGR 2025-2034 - Market by End Use | Pharmaceuticals | 4.6% |
Market Share by Country 2024 | India | 4.9% |
As per the Organisation for Economic Cooperation and Development, the global GDP is expected to record a growth of 3.1% in 2024 and reach 3.2% in 2025. Major G20 economies such as India, Indonesia, and China are expected to grow at a rate of 6.6%, 5.1%, and 4.9% respectively. The expansion of the industrial sector is expected to raise the demand for biocides, which are used for controlling the spread of harmful microorganisms through biological and chemical action. They play a crucial role in agricultural and food processing, apart from healthcare and oil and gas (for preventing pipeline corrosion) industries. This is expected to surge the demand for iodine as it is a critical raw material for biocide production.
Over 1.7 billion automotive tyres are produced annually worldwide. Nearly 70% are meant for passenger vehicles, while 30% are used for manufacturing heavy-duty vehicles like trucks. The per capita vehicle ownership in New Zealand is 869 per million inhabitants (the highest in the world), which is followed by the United States (860), Poland (761), Italy, (756), Australia (737), and France (704). The burgeoning tyre replacement market in leading countries such as China and India is also expected to raise the demand for iodine, which is used as a catalyst in the production of synthetic rubber worldwide.
Growing demand for animal feed; rising scientific research; increasing applications of iodine in forensic photography; and synthesis of dyes and pigments are the major trends impacting the iodine market expansion
Iodine is a critical micronutrient for fetal development and lactation among pregnant cattle since it facilitates calf growth.
Cesium iodide can absorb particle radiation, gamma, and X-rays to emit visible light. This facilitates medical diagnostics, advancements in nuclear physics, and exploration of natural resources.
Iodine vapours react with fingerprint oils to form latent images on porous surfaces, including paper. This facilitates crime investigation.
Iodine is used to synthesise vibrant colours, such as red#3, for applications in the cosmetics, food, and textiles industries. It also ensures the fastness and stability of dyes by reducing the impact of environmental exposure.
Tanzania is home to Africa’s second-largest cattle population after Ethiopia. It has 36.6 million cattle heads, which constitutes a share of 11% of Africa’s total cattle population. It has one of the fastest-growing populations of livestock in the world and accounts for 1.4% of the total cattle population. The animal husbandry industry employs nearly 4.6 million households, which represents 33% of the population. This is expected to raise the demand for animal feed, and thereby drive the market.
The EMR’s report titled “Global Iodine Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Source:
Market Breakup by End Use:
Market Breakup by Region:
CAGR 2025-2034 - Market by | Country |
India | 5.7% |
Brazil | 5.1% |
Saudi Arabia | 4.9% |
China | 4.8% |
Mexico | 4.3% |
USA | XX% |
UK | 3.9% |
Canada | 3.8% |
Germany | 3.6% |
Australia | 3.4% |
France | 3.4% |
Italy | 3.0% |
Japan | 3.0% |
Based on end use, the market is segmented into pharmaceuticals, animal feed, medical imaging, and chemicals, among others. Over the forecast period of 2025-2034, the pharmaceuticals sector is estimated to grow at a CAGR of 4.6% as the demand for iodine as a nutritional supplement surges.
The shift towards sustainability is prompting major iodine producers in Chile to boost their reliance on seawater to double their iodine production while providing fresh water to local communities under its CSR initiatives.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other major market players are Woodward Iodine Corporation, Glide Chem Pvt Ltd., GODO SHIGEN Co.,Ltd., Kanto Natural Gas Development Co. Ltd., Nippoh Chemicals Co., Ltd., and Algorta Norte S.A., among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the market attained a value of nearly USD 3.82 Billion.
The market is assessed to grow at a CAGR of 4.30% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025 -2034 to reach about USD 5.82 Billion by 2034.
The different sources of iodine in the market are caliche ore, underground brines, seaweed, and recycling.
The different end uses of iodine are pharmaceuticals, animal feed, medical imaging, and chemicals.
The different regions covered in the market report are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the market are Woodward Iodine Corporation, Glide Chem Pvt Ltd., GODO SHIGEN Co.,Ltd., Iochem Corporation, Iofina, ISE Chemicals Corporation, Itochu Chemical Frontier Corporation, Kanto Natural Gas Development Co. Ltd., Nippoh Chemicals Co., Ltd., and Algorta Norte S.A., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2024 |
Historical Period | 2018-2024 |
Forecast Period | 2025-2034 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Source |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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