Global Iodine Market
Source (Underground Brines, Seaweeds, Caliche Ore, Recycling)
The caliche ore segment dominates the iodine market, accounting for around 43% of the market share in 2024 owing to its easy availability, especially from Chile. In April 2024, SQM declared the expansion of its mining operation related to the extraction of caliche ore, which would increase the annual production of iodine by 10%. This places the caliche ore as the most viable, economical, and productive elemental source of industrial iodine. The rich concentration of the element, in addition to the effective processes of extraction, makes ores a preferred among many producers.
Application (Pharmaceuticals, Biocides, Iodophors, X-Ray Contrast Media, Catalyst in Polymer Processing, Optical Polarizing Films, Human Nutrition, Others)
The X-ray contrast media segment accounted for 23% of the market share in 2024. The primary factor driving the growth of the segment includes the higher usage of advanced diagnostic imaging technologies in healthcare. For instance, in December 2023, GE Healthcare announced plans to increase iodine-based contrast agent production owing to growing requirements within healthcare, further strengthening this segment's growth. Artificial intelligence in imaging systems also assists in improving the efficiency of iodine-based contrast agents. This further adds to the increase in the adoption of iodine for x-ray contrast media.
Our in-depth analysis of the market includes the following segments:
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Author Credits: Rajrani Baghel
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