Western Europe: The largest iodine market, by region

Iodine is a non-metallic element with a blue-black color and lustrous appearance. It belongs to the halogen family in the periodic table and is the least reactive among the halogens. Iodine is a trace element that can be obtained mainly from three sources, which are underground brines, caliche ore, and seaweed. It is also recycled in many parts of the world, mainly in Japan. Iodine is either used in elemental or isotopic form and in the form of inorganic salts & complexes and organic compounds. It is widely used in numerous applications, such as X-ray contrast media, pharmaceuticals, iodophors, and optical polarizing films in LCDs, catalyst in polymer synthesis, biocides, human nutrition, animal feed, and fluorochemicals. Increasing use of iodine in optical polarizing films in LCD applications and growing deficiency of iodine in developing countries are the major factors driving the market for iodine globally. The growth is further driven by its application in X-ray contrast media, fluorinated derivatives, and photography. The global iodine market is estimated at USD 832.1 Million in 2017 and is projected to reach USD 1,041.0 Million by 2022, at a CAGR of 4.58% between 2017 and 2022.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=65097087

The Western European region was the largest market for iodine, in terms of value and volume. The high consumption of iodine in the region is attributed to the increasing demand from the healthcare and chemical industries. Growing investments in medical research, advancements in diagnostic imaging techniques, strong healthcare infrastructure with significant number of CT and MRI examinations, and growing iodine deficiency in Rest of the Western European counties are some of the factors responsible for the large market size of iodine in Western Europe.

Iodine manufacturers such as Sociedad Química y Minera (SQM) (Chile), Iofina (UK), ISE Chemicals Corporation (Japan), IOCHEM Corporation (US), Compañía de Salitre y Yodo (Chile), Algorta Norte SA (Chile), Nippoh Chemicals Co., Ltd (Japan), Kanto Natural Gas Development Co., Ltd (Japan), Toho Earthtech Co., Ltd (Japan), and Godo Shigen Co., Ltd (Japan) are covered in the report. These companies have large production facilities and have adopted organic strategies to become the leading players in the global iodine market.

SQM is the leading manufacturer of iodine with the largest production capacity of iodine globally. The company manufactures around 10,000 tons of iodine and its derivatives annually. The company, in 2016 launched a new product Ethyl-TriPhenyl-Phosphonium Iodide (ETPPI) through its brand Iodeal. ETPPI is a quaternary phosphonium salt used in the advancement or curing of thermosetting powder coatings and phenolic-based epoxy resins, as a phase transfer catalyst, and a Wittig reagent. This product launch helped the company enhance and broaden its product offerings.

Iofina is another major company operating in iodine manufacturing after SQM. For instance, in 2017, Iofina expanded its iodine production with the construction of IO#7, a new production plant for manufacturing iodine and its derivatives. With this expansion, the company will be able to increase its iodine production with lower per kilo cost of production.

Browse 109 tables and 50 figures spread through 147 pages and in-depth TOC on “Iodine Market by Source (Caliche Ore, Underground Brines), Form(organic compounds, Inorganic Salts, Elemental & Isotopes), Application(X-ray contrast media, Pharmaceuticals, Optical Polarizing Films), and Region – Global Forecast to 2022″: https://www.marketsandmarkets.com/requestsampleNew.asp?id=65097087

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: newsletter@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

Leading Market Players – Propylene Glycol Market

The propylene glycol market size is projected to reach USD 4.7 billion by 2024 from USD 3.8 billion in 2019, at a CAGR of 4.4%. The growing demand for propylene glycol in countries such as China, India, Japan, and South Korea from the transportation, building & construction, food & beverage, pharmaceuticals, and cosmetics & personal care industries is expected to fuel the growth of the market. The market is evolving, with major players playing a crucial role in the development of new and advanced products.

The Dow Chemical Company (US), LyondellBasell Industries N.V. (Netherlands), and Archer Daniels Midland Co. (US) are the major players in this market.

To know about the assumptions considered for the study download the pdf brochure

The Dow Chemical Company (US) is focused on partnerships to meet the growing demand in the market. In October 2019, the Dow and Evonik entered into an exclusive technology partnership. They are plan to bring a unique method (HYPROSYN) for directly synthesizing propylene glycol from propylene and hydrogen peroxide. Over 100 Evonik employees worked for years to develop this method. The key element is a novel catalytic system developed by Evonik researchers, which allows direct synthesis of propylene glycol from propylene and hydrogen peroxide in a process offering high yield and comparatively low energy consumption.

LyondellBasell Industries N.V. (Netherlands) focuses on expansion to strengthen its market position in the propylene glycol market. In August 2018, the company announced to build the world’s largest propylene oxide (PO) and tertiary butyl alcohol (TBA) plant. The $2.4-B project represents the single-largest capital investment in the company’s history. The plant will start in 2021; the facility will be able to produce 470,000 tpy of PO and 1 MMtpy of TBA per anum.

Archer Daniels Midland Co. (US) is focused on partnerships to meet the growing demand for propylene glycol. In January 2018, the company and Pacific Northwest National Laboratory (PNNL) entered into a partnership to produce bio-based propylene glycol. As a result of the collaborative research between PNNL and ADM, the company now has a full-scale production facility at its manufacturing plant in Decatur, Illinois. The facility employs 140 people and can produce 100,000 metric tons of propylene glycol from renewable sources per year. ADM uses or sells this bio-based product for use in deicers, cosmetics, pet food, and pharmaceuticals, among others.

Iodine Market- Trends and Forecast 2022

The global iodine market is estimated at USD 832.1 Million in 2017 and is projected to reach USD 1,041.0 Million by 2022, at a CAGR of 4.58%.

Download the PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=65097087

The market is witnessing growth due to the increasing use of iodine in optical polarizing films in LCD applications. Growing deficiency of iodine in developing countries and use in applications such as X-ray contrast media, fluorinated derivatives, and photography are some of the factors driving the market for iodine.

“Caliche ore: The largest source of iodine”

Caliche ore was the largest source for iodine extraction in 2016. The large share of caliche ore is because mining of iodine from caliche ore is less cumbersome and less capital intensive in comparison to its extraction from underground brines and seaweeds. Furthermore, the iodine mined from caliche ore contains more concentration (ppm) of iodine as compared to other extraction sources.

“X-ray contrast media: The largest application of iodine”

X-ray contrast media was the largest segment of the iodine market, by application in 2016. The high consumption of iodine in X-ray contrast media is attributed to the rising aging population and their susceptibility to various diseases which is expected to increase the use of X-ray contrast media in diagnostic imaging, thereby, driving the market for iodine in this application.

“Western Europe: The largest iodine market, by region”

The Western European region was the largest market for iodine, in terms of value and volume, in 2016. The high consumption of iodine in the region is attributed to the increasing demand from the healthcare and chemical industries. Growing investments in medical research, advancements in diagnostic imaging techniques, strong healthcare infrastructure with significant number of CT and MRI examinations, and growing iodine deficiency in Rest of the Western European counties are some of the factors responsible for the large market size of iodine in Western Europe.

Sociedad Química y Minera (Chile), Iofina (UK), ISE Chemicals Corporation (Japan), IOCHEM Corporation (US), Compañía de Salitre y Yodo (Chile), and Algorta Norte SA (Chile) lead the global iodine market. These players are the major manufacturers of iodine and are gaining a strong foothold in the market through their strategies of capacity expansions.