Visão geral do mercado

Iodine is a chemical element found in various seaweed types that reacts with starch and turns purple. It is an essential component in various nutritional, pharmaceutical, and industrial applications. The salt concentration in brine is similar to that in seawater.

The Global Iodine Market is projected to experience significant growth, increasing from 38.5 thousand tons in 2023 para 50.2 thousand tons by 2028, a uma taxa composta de crescimento anual (CAGR) de 5.41% durante o período de previsão (2023-2028).

In the short term, the growing demand for X-ray contrast media, the prevalence of iodine deficiency, and the extensive applications of iodine derivatives are expected to drive the demand for iodine in the market.

Contrast media plays a crucial role in enhancing medical imaging. Iodine, derived mainly from soil, rock, and brine sources, is widely used in CT and X-ray contrast media. Iodine-containing medications (ICM) are administered to patients to improve the visibility of blood vessels and organs for medical imaging purposes such as X-rays or computed tomography (CT) scans. ICM products can be injected intravenously, taken orally, or used rectally. Iodine is an important component in X-ray contrast media, which involves the electrophilic substitution of the aromatic part of the chemical structure. The production of iodinated contrast media requires efficient recovery and recirculation of spent iodine. These media can also be used in fluoroscopy, angiography, venography, and plain radiography on occasion. Intravenous administration is the most common method, but they can also be administered orally, rectally, cystourethrally, vaginally, intraosseously, or through other routes.

However, the market faces constraints due to iodine toxicity and health-related issues resulting from excessive consumption. Nonetheless, the increasing demand for biocides presents an opportunity for market growth.

In terms of application, the medical sector is expected to dominate the market due to the rising usage of iodine in treating conditions like goiter.

Europe holds the largest share in the global iodine market, with significant consumption in countries such as Germany, the United Kingdom, and France.

Segmentação de mercado

The market is segmented based on various factors, including source, application, form, and region.

Segmentation by Source
Underground Brine
Caliche Ore
Recycling
Seaweeds

Segmentation by Application
Animal Feeds
Medical
Biocides
Optical Polarizing Films
Fluorochemicals
Nylon
Other Applications (Human Nutrition and Catalysts)

Segmentation by Form
Inorganic Salts and Complexes
Organic Compounds
Elementals and Isotopes

Segmentation by Region
North America – United States and Canada United States, Canadá, and Mexico
Europe – Reino Unido, Alemanha, França, Itália, and Rest of Europe
Asia-Pacific – China, Japão, Índia, South Korea, and Rest of Asia-Pacific
Latin America – Brasil, Argentina, and Rest of Latin America
Middle East and Africa – Arábia Saudita, África do Sul, and Rest of Middle East and Africa

Em 2022, caliche ore emerged as the primary source of iodine due to its widespread availability in mining operations. This can be attributed to unique geological events that have resulted in higher concentrations of iodine in mineral deposits found in caliche ore. The extraction of iodine from these deposits is the method used for its production. Caliche, which refers to natural saltpeter-containing mineral deposits in the Atacama Desert of northern Chile, west of the Andes Mountains, is known to contain the two crystalline forms of iodine: lautarite [Ca(IO3)2] and dietzeite [7Ca(IO3)2*8CaCrO4]. Both forms have an iodine content of approximately 0.04%, or 400 parts per million (ppm).

Furthermore, the process of iodine oxidation to iodate occurs through photochemical reactions in the troposphere and at ground level in the nitrate fields before it becomes part of the caliche deposits. Iodine is considered one of the scarcest non-metallic elements in the Earth’s composition, and the caliche ore in northern Chile contains the world’s largest known deposits of nitrates and iodine. It is the sole commercially exploitable source of natural nitrate globally. Adicionalmente, the detection of iodine quantities is challenging due to their generally small amounts, necessitating sophisticated chemical methods.

The extraction of pure, high-quality iodine from caliche ore requires careful implementation. To obtain the desired end product, iodate is extracted from the caliche ore, and the quantity of iodine recovered depends on the reduction of the extracted iodate solution to iodine.

The consumption of iodized salt plays a pivotal role in controlling and eliminating iodine deficiency disorders worldwide. Gas chromatography (GC) has been utilized to determine organic iodine compounds, including those derived from seawater. The process involves injecting around 50-100 ml of seawater into a purging unit for degassing. The degassed substances are then transferred, along with helium, into a liquid nitrogen-cooled cold trap. After degassing, the trapped substances are heated, and the liquid nitrogen is removed to transfer the trapped substances to the separation column. A capillary column in GC is used to separate the organic iodine compound by heating the trap at different temperatures ranging from 40 to 240°C. It is crucial to identify the organic iodine compounds present in various edible iodized salt products to ensure their validity and safety.

Iodine is the heaviest stable halogen and a chemical element. It exists as a lustrous, purple-black, non-metallic solid that easily sublimates with gentle heat under standard conditions. In the medical field, iodine finds application in X-ray contrast media, pharmaceuticals, iodophors, and povidone-iodine (disinfectants). The demand for iodine has risen in recent years due to the increased need for X-ray contrast media. This can be attributed to iodine’s low toxicity, high atomic number, and ease of combination with organic compounds.

Iodophors are solutions containing iodine and a solubilizing agent that gradually releases a small amount of iodine into the solution. Povidone-iodine, one of the most widely used iodophors, is commonly employed for surface disinfection in breweries and dairy industries. The development of medical technologies has driven the demand for iodine in this application, as radiographic contrast media containing iodine enhance the visibility of vascular structures and organs during radiographic procedures.

Radioactive iodine is an effective treatment for thyroid gland cancer. The radioactive iodine is absorbed by thyroid cancer cells, even if they have spread to other parts of the body. The radiation emitted then destroys the cancer cells. The European Federation of Pharmaceutical Industries and Associations (EFPIA) oncology platform supports medical innovation in Europe and facilitates the development of new cancer treatments. The pharmaceutical industry continues to invest in research with over 1,400 cancer medicines in development and more than 1,300 ongoing oncology clinical trials in 2021.

Furthermore, iodine is utilized in pharmaceuticals for the production of disinfectants, bactericides, and analgesics. Tincture of iodine, which contains iodine, is used in synthesizing sodium iodide, potassium iodide, and iodine solutions. The pharmaceutical industry is the largest in North America, followed by Europe and Asia-Pacific. Particularly in Asia-Pacific countries such as India, China, and Indonesia, the pharmaceutical industry is experiencing rapid growth, with generic drug production dominating regional pharmaceutical output. The Indian domestic pharmaceutical market was valued at USD 42 billion in 2021 and is projected to reach USD 120-130 billion by 2030, according to IBEF.

Europe is the major market for iodine consumption, driven by increasing demand from countries like Germany, the United Kingdom, and France. In Germany, a leading global economy, the demand for iodine has been pushed by advancements in medical technologies and the significant need for animal feed. The country’s animal feed production reached around 24.51 million metric tons in 2021. However, the spread of Avian Influenza (AI) had a severe impact on compounded feed production in 2021. Despite this, growth is expected in the feed industry for 2022, which will subsequently influence the demand for iodine. The United Kingdom’s pharmaceutical industry is also advancing, with investments in research and development and the establishment of manufacturing sites. The country’s pharmaceutical market ranks among the top 10 globally, with approximately 41% of the pharmaceutical products produced being exported. France has a highly regulated domestic pharmaceutical market, with reimbursable drugs accounting for approximately 30% of sales. The country experiences strong competition between generic drug manufacturers and brand-name drug manufacturers.

With the increasing demand from the medical sector, research and development efforts, and various regional trends, the demand for iodine is expected to grow in the forecast period.

Cenário competitivo

The analyzed market exhibits consolidation, with the combined market share of the leading four players amounting to approximately 70% of the global market. Em 2022, SQM SA emerged as the largest producer, holding a significant position in the market. The company actively participates in the market through its dedicated subsidiaries, focusing on providing iodine-related products. Cosayach, on the other hand, secured the second-largest producer position in 2022. This company operates on a global scale by establishing strategic alliances with agents and distributors.

Major companies in the market include ACF Minera SA, American Elements, Algorta Norte SA, Calibre Chemicals Pvt. Ltda, Cosayach, Deep Water Chemicals, Eskay Iodine, Glide Chem Private Limited, GODO SHIGEN Co. Ltda, Infinium Pharmachem Pvt. Ltda, Iochem Corporation, Iofina PLC, ISE Chemicals Corporation, Itochu Chemical Frontier Corporation, Kanto Natural Gas Development Co. Ltda, NIPPOH CHEMICALS CO. LTD, Parad Corporation Pvt. Ltda, Protochem, Salvi Chemical Industries Ltd, Samrat Pharmachem Limited, SQM SA, Toho Earthtech inc., Unilab Chemicals & Pharmaceuticals Pvt. Ltda.

Recent Industry Developments

In October 2022, GE Healthcare’s Pharmaceutical Diagnostics division made public a significant and enduring accord with Sociedad Química y Minera de Chile S.A. (SQM) to ensure a steady and reliable supply of iodine. Iodine serves as a critical component in the production of contrast media products that are extensively utilized in X-Ray and Computed Tomography (CT) procedures worldwide. This long-term agreement aims to secure a consistent source of iodine, which is vital for the effective execution of medical imaging examinations.

In August 2021, Everstone Capital, a prominent private equity firm based in Singapore, formally announced its acquisition of Calibre Chemicals Pvt. Ltda. This acquisition was reported to have been completed for a significant sum of USD 100 milhão. The strategic acquisition underscores Everstone Capital’s commitment to expanding its investment portfolio and strengthening its presence within the chemical industry.

Key Questions Answered

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