+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

United States Iodine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • PDF Icon


  • 74 Pages
  • June 2022
  • Region: United States
  • Mordor Intelligence
  • ID: 5567092
The US iodine market witnessed a consumption demand of around 8403.37 ton in 2021. The market is estimated to register a CAGR of more than 3% during the forecast period (2022-2027).

Key Highlights

  • A major factor driving the market studied is the increasing demand from the medical sector, particularly after huge investments in the healthcare sector post the emergence of COVID-19.
  • On the flip side, rising concerns about increasing health risks from excessive iodine intake are restraining the market growth​.
  • Iodine recycling is a major opportunity for the market studied in the future.

Key Market Trends

Increasing Demand from the Medical Sector

  • Cancer is the second leading cause of mortality in the United States after heart disease. In 2022, the United States is anticipated to have 1.9 million new cancer cases and 609,360 cancer deaths, for a total of 1,670 deaths each day.
  • Since the early 1940s, radioactive iodine (I-131) has been utilized to treat overactive thyroid diseases (hyperthyroidism). It is a highly successful therapeutic approach. It is becoming more commonly utilized as a first-line therapy than surgery.
  • Radioactive iodine is absorbed by the thyroid and kills thyroid gland cells. This reduces the quantity of thyroxine produced by the thyroid gland and may also lower the gland's size.
  • According to Statista, the revenue from US diagnostic imaging devices was USD 11,131 million in 2021, and it is expected to reach USD 13,504 million by 2026.
  • Owing to the growing geriatric population, the demand for iodine for cancer treatment and medical imaging applications has been increasing steadily over the past few years.

Underground Brine is the Most Used Source to Produce Iodine

  • Iodine is primarily retrieved from underground brines. They are water with many dissolved salts and ions associated with natural gas and oil deposits.
  • The underground brine is pumped up from the stratum to produce biogenic natural gas (NG) and iodine.
  • In addition to this, underground brines are used in iodine production because they could be a potential source of rubidium, cesium, boron, or strontium.
  • Iodine is produced from sodium iodide solutions found in underground brines associated with petroleum and natural gas fields. Iodine is also made from subterranean brines. Furthermore, the United States produces iodine from sodium iodide solutions.
  • Underground brines can be classified as chloride, sulfate, and hydrocarbonate. Among all three, only chloride brines, including sodium, calcium, and magnesium, are widely found.

Competitive Landscape

The US iodine market is highly consolidated. Some of the key players (not in any particular order) in the market studied include Iochem Corporation, Woodward Iodine Corporation (WIC) (Ise Chemicals Corporation), Iofina, and KIVA Holding Inc.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1 Intorduction
1.1 Study Assumptions
1.2 Scope of the Study
2 Research Methodology3 Executive Summary
4 Market Dynamics
4.1 Drivers
4.1.1 Increasing Demand from the Medical Sector
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Health Risks from Excessive Iodine Intake
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 Source
5.1.1 Underground Brines
5.1.2 Caliche Ore
5.1.3 Recycling
5.1.4 Seaweeds
5.2 Form
5.2.1 Inorganic Salts and Complexes
5.2.2 Organic Compounds
5.2.3 Elementals and Isotopes
5.3 Application (including major companies in each segment)
5.3.1 Animal Feed
5.3.2 Medical
5.3.3 Biocides
5.3.4 Optical Polarizing Films
5.3.5 Fluorochemicals
5.3.6 Nylon
5.3.7 Other Applications
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ACF Minera SA
6.4.2 American Elements
6.4.3 Deep Water Chemicals
6.4.4 Iochem Corporation
6.4.5 Iofina
6.4.6 KIVA Holding Inc.
6.4.7 Samrat Pharmachem Limited
6.4.8 SQM SA
6.4.9 Woodward Iodine Corporation (WIC) (ISE Chemicals Corporation)
7.1 Iodine Recycling

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • ACF Minera SA
  • American Elements
  • Deep Water Chemicals
  • Iochem Corporation
  • Iofina
  • KIVA Holding Inc.
  • Samrat Pharmachem Limited
  • SQM SA
  • Woodward Iodine Corporation (WIC) (ISE Chemicals Corporation)