Iodine Derivatives Market Report by Type and Forecast 2019-2028

COVID-19 Impact Analysis on Global Iodine Derivatives Market

The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the global iodine derivatives market. In addition, complete analysis of changes on the global iodine derivatives market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19 pandemic, global iodine derivatives market was more or less affected due to supply chain distribution, declining demand for iodine derivatives from various application like food & feed, agrochemical, electronic, which has certainly affected the market growth to major extend. However, post COVID-19 the market has witnessed the rising new growth opportunities and is expected to have emerging demand in upcoming years.

Market Overview – Global Iodine Derivatives Market

Market Drivers

There are several drivers for the iodine derivatives market, including:

Growing demand in the pharmaceutical industry: Iodine derivatives are widely used in the production of various pharmaceutical products such as X-ray contrast media, antiseptics, and disinfectants. As the demand for pharmaceutical products continues to grow worldwide, the demand for iodine derivatives is also expected to increase.
Increasing demand for animal feed: Iodine derivatives are added to animal feed as a nutritional supplement to prevent iodine deficiency in animals. With the growing demand for meat and dairy products worldwide, the demand for iodine derivatives in animal feed is also expected to increase.
Rise in demand for catalysts: Iodine derivatives are widely used as catalysts in various industrial processes such as polymer synthesis, organic synthesis, and pharmaceutical production. The growing demand for these industrial processes is expected to drive the demand for iodine derivatives.
Growing demand in the electronics industry: Iodine derivatives are used in the production of LCD polarizing films, which are widely used in electronic devices such as smartphones, tablets, and televisions. With the growing demand for electronic devices worldwide, the demand for iodine derivatives in the electronics industry is also expected to increase.
Increasing adoption in water treatment: Iodine derivatives such as iodine tablets are used in water treatment to disinfect water and remove harmful bacteria and viruses. With the increasing demand for safe and clean drinking water worldwide, the demand for iodine derivatives in water treatment is also expected to increase.

Market Opportunity

There are several opportunities in the iodine derivatives market, including:

Increasing use in energy storage: Iodine derivatives such as iodide salts and iodine monochloride are being explored for their potential use in energy storage applications, particularly in redox flow batteries. As the demand for renewable energy sources continues to grow, the demand for energy storage solutions is also expected to increase, providing an opportunity for iodine derivatives.
Growing demand for iodine-based disinfectants: With the outbreak of COVID-19, the demand for disinfectants has skyrocketed worldwide. Iodine derivatives such as povidone-iodine and iodophors are effective disinfectants and have been widely used in hospitals and healthcare settings. The growing demand for disinfectants provides an opportunity for the iodine derivatives market.
Increasing adoption in agricultural applications: Iodine derivatives are used as a micronutrient fertilizer in agriculture to improve plant growth and increase crop yield. With the growing demand for food worldwide, the demand for iodine derivatives in agriculture is also expected to increase.
Rising demand for iodine in OLED production: Iodine derivatives such as triiodobenzoic acid and iodine pentoxide are used in the production of OLEDs (organic light-emitting diodes). With the growing demand for OLEDs in various applications such as smartphones, TVs, and lighting, the demand for iodine derivatives in OLED production is also expected to increase.
Growing use in biotechnology applications: Iodine derivatives are widely used in biotechnology applications such as DNA sequencing and protein purification. With the growing demand for biotechnology applications worldwide, the demand for iodine derivatives in this sector is also expected to increase.

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Top of FormGlobal Iodine Derivatives Market Segmental Overview

The global iodine derivatives market comprises of different market segment like type, application and geography.

Global Iodine Derivatives Market by Type

The global iodine derivatives market can be categorized into various types based on their applications, which include:

Organic Compounds: This includes iodine derivatives such as iodomethane, iodoform, and diiodomethane. These organic compounds are widely used in various applications such as solvents, reagents, and intermediates in chemical synthesis.
Inorganic Salts: This category includes iodine derivatives such as potassium iodide, sodium iodide, and calcium iodide. These inorganic salts are widely used in various applications such as nutritional supplements, X-ray contrast media, and antiseptics.
Povidone Iodine: Povidone iodine is a complex of iodine and polyvinylpyrrolidone (PVP) and is widely used as a broad-spectrum antiseptic and disinfectant.
Iodinated Contrast Media: This category includes iodine derivatives such as iopamidol, iohexol, and iopromide, which are widely used as X-ray contrast media in medical imaging.
Others: Other iodine derivatives include iodine pentoxide, triiodobenzoic acid, and iodophors, which are used in various applications such as OLED production, disinfectants, and biotechnology.

Overall, the inorganic salts segment, particularly potassium iodide and sodium iodide, dominates the global iodine derivatives market in terms of revenue, owing to their wide range of applications in pharmaceuticals, food, and animal feed industries. However, the organic compounds segment is also expected to witness significant growth due to the growing demand in the chemical industry.

Global Iodine Derivatives Market by Application

The global iodine derivatives market can be categorized into various applications, which include:

X-ray Contrast Media: Iodine derivatives such as iopamidol, iohexol, and iopromide are widely used as X-ray contrast media in medical imaging. This application segment is expected to witness significant growth due to the increasing demand for diagnostic imaging procedures worldwide.
Pharmaceuticals: Iodine derivatives are widely used in the production of various pharmaceutical products such as antiseptics, disinfectants, and nutritional supplements. This application segment is expected to witness steady growth owing to the growing demand for pharmaceutical products worldwide.
Animal Feed: Iodine derivatives such as potassium iodide and sodium iodide are added to animal feed as a nutritional supplement to prevent iodine deficiency in animals. This application segment is expected to witness significant growth due to the growing demand for meat and dairy products worldwide.
Catalysts: Iodine derivatives are widely used as catalysts in various industrial processes such as polymer synthesis, organic synthesis, and pharmaceutical production. This application segment is expected to witness significant growth due to the growing demand for industrial processes worldwide.
Others: Other application segments for iodine derivatives include water treatment, biotechnology, energy storage, and electronics. The demand for iodine derivatives in these segments is expected to grow steadily in the coming years.

Overall, the pharmaceuticals and X-ray contrast media segments dominate the global iodine derivatives market in terms of revenue, owing to their wide range of applications in the healthcare industry. However, the animal feed and catalysts segments are also expected to witness significant growth due to the growing demand in the food and chemical industries, respectively.

Global Iodine Derivatives Market Key Players

The competitive landscape analysis of iodine derivatives market is certainly based range of market players operating in the chemical & material market with increasing demand for production of iodine derivatives. Besides, number of market players offered wide range of products for different application in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments.

The key players studied in market are Iofina plc., Godo Shigen Co., Ltd, Nippoh Chemicals., Zibo Wankang Pharmaceutical Chemical., Nanjing Taiye Chemical Industry, Qingdao Gimhae Iodide Chemical Co, Ajay-SQM Group., Infinium Pharmachem Pvt Ltd, Amphray Laboratories, Samrat Pharmachem Limited, Calibre Chemicals Pvt. Ltd, Omkar Speciality Chemicals Ltd, Merck Ltd., among others.

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