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Report Overview

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.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

  • Globally, synthetic rubber production amounts to 15 million tons annually.
  • Nearly 70% of synthetic rubber production is meant for car tires.
  • Iodine is found in isolated underground regions at a depth of up to 10,000+ feet.

Compound Annual Growth Rate

Value in USD Billion

4.3%

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%

Global Iodine Market Growth

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.

Key Trends and Developments

Global Iodine Market Trends

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.

Global Iodine Industry Segmentation

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:

  • Caliche Ore
  • Underground Brines
  • Recycling
  • Seaweed

Market Breakup by End Use:

  • Pharmaceuticals
  • Animal Feed
  • Medical Imaging
  • Chemicals

Market Breakup by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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%

Global Iodine Market Share

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.

Leading Companies in the Global Iodine Market

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.

Iofina

Iofina was originally established in 1983 and was acquired by Iofina Chemicals in 2009. It is based in the United States and specialises in the manufacturing of iodine and the derivatives of speciality chemicals. It operates its Iosorb iodine extraction plants in Oklahoma and Kentucky.

ISE Chemicals Corporation

ISE Chemicals Corporation was founded in March 1927 and is headquartered in Tokyo, Japan. It is enga...

Itochu Chemical Frontier Corporation

Itochu Chemical Frontier Corporation was founded in 1971 and is based in Tokyo, Japan. It is engaged...

Iochem Corporation

Iochem Corporation, which is based in Oklahoma (U.S.A.) has over 35 years of experience in the produ...

*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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Key Questions Answered in the Report

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.

Report Summary

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.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

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:

  • Source
  • End Use
  • Region
Breakup by Source
  • Caliche Ore
  • Underground Brines
  • Recycling
  • Seaweed
Breakup by End Use
  • Pharmaceuticals
  • Animal Feed
  • Medical Imaging
  • Chemicals
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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.
  • Algorta Norte S.A.
  • Others

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