The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the Asia Pacific iodine derivatives market. In addition, complete analysis of changes on the Asia Pacific iodine derivatives market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Asia Pacific economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19 pandemic, Asia Pacific 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.
With growing investments in the chemical and pharmaceutical sector in countries, such as India, China, the market for iodine derivative is expected to increase in the coming years. Moreover, In the APAC region, the increasing demand for automation in end-use sectors, such as automotive, aerospace & defense, healthcare, industrial chemicals (resins, effluents), petrochemicals, water & wastewater, construction & building, energy & clean-tech, mining, paper, pulp & forestry, plastics, sludge & slurry, and food & beverage industry will propel the market growth in the region.
The Asia Pacific iodine derivatives market is expected to witness increasing new growth opportunities for market with growing iodine deficiency among people. Iodine deficiency is still a public health problem in Asia Pacific countries. A total of 36.5% (285 million) school-age children were estimated to have an insufficient iodine intake. Iodine deficiency is a major threat to the health and development of population across the region, primarily in preschool children and pregnant women.
The major restraining factor for the Asia Pacific iodine derivatives market is toxicity of iodine and health related issue. Iodine induced hyperthyroidism may be dangerous in patients with underlying heart diseases. In iodine sufficient individuals, iodine excess causes elevated thyroid stimulating hormones levels, which inhibits thyroid hormone production leading to hypothyroidism and goitre. Iodine toxicity is a rare condition which requires a broad initial diagnosis and heightened suspicion. These patients may exhibit vague signs and symptoms like nausea, vomiting, and diarrhoea. While history taking may reveal the toxicity, the cause is difficulty to determine without further evaluation.
The COVID-19 pandemic has disrupted Asia Pacific supply chain networks in an unprecedented way. Supply-demand imbalances have pushed manufacturers across sectors to grapple with multiple challenges including rising commodity prices, logistics disruptions & port congestions, and shifting customer behaviour. At the same time, the move towards sustainability is driving almost all industry sectors towards sustainable production and operations that is good for people and the planet.
The report provides in-depth analysis of Asia Pacific iodine derivatives market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various iodine derivatives in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
The Asia Pacific iodine derivatives market comprises of different market segment like Type, Application and Country.
The type studied in the Asia Pacific iodine derivatives market are potassium iodate, sodium iodate, calcium iodate, potassium iodide, copper iodide, ethylenediamine dihydroiodide, and others. Potassium iodide has register major market share during the estimated time period (2022-2028) and is likely to maintain its dominance over the estimated time period. With wide range of application and uses in various application industry is expected to drive the demand for global iodine derivatives market. Furthermore, ideally potassium iodide is mostly present in colorless crystals or white powder, which is odorless. The taste of the chemical is almost like saline and slight bitter. It is often used as nutritional supplement in animal feed and in human diet, in treatment of hyperthyroidism used as expectorant. Also used in some disinfectant and hair treatment chemicals.
The Asia Pacific iodine derivatives market finds its major application in pharmaceutical, food & feed, cosmetics, agrochemical, electronics, nylon production, and others (chemical, sanitation). food & feed is expected to witness the demand for iodine derivatives market at specific growth rate during the estimated time period (2022-2028). Iodine plays a major role in animal feeds to increase the production of milk from dairy cattle and poultry eggs. Iodine supplements specifically plays an important role in raising cows to avoid iodine deficiency during pregnancy. Also, iodine supplement is key in the lactation process of calves, pigs and horses. Hence, iodine derivatives market support to overcome the iodine deficiencies which can be prevented by supplying iodized salt to the mother before the young are born. Hence, scarcity of iodine has increased the necessity to supplement animal feeds with various forms of iodine like calcium iodate and ethylenediamine dihydroiodide (EDDI). Likewise, cosmetics, agrochemical, electronics, nylon production, others (chemical, sanitation) are contributing healthy growth in the market.
Geographically, the Asia Pacific iodine derivatives market is studied across the countries of the China, India, Japan, and Rest of APAC. The China dominates the Asia Pacific iodine derivative market, followed by India. Rising production of iodine derivative coupled with the increasing chemical and pharmaceutical industries, is the driving factors in China. China is the largest chemical manufacturer and one of the largest producers of pharmaceuticals.
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.
January 2018: Iofina plc. Announced to strategically expand iodine production by bringing IO#7 into production, a plant which will significantly increase iodine output whilst reducing the Group’s overall iodine production cost.
Iodine and its derivatives are crucial in a wide range of nutritional, pharmaceutical, and industrial applications. Although the market is at the infant stage in current space, it exhibits the potential to improve the accuracy and specificity of disease diagnosis based on knowledge of X-ray contrast media. Moreover, growing iodine deficiency among people is anticipated to spur the revenue share of diagnostic in the upcoming years. The Asia Pacific iodine derivatives market comprises of different market segment like type, application and country. The type studied in the Asia Pacific iodine derivatives market are potassium iodate, sodium iodate, calcium iodate, potassium iodide, copper iodide, ethylenediamine dihydroiodide, and others. Potassium iodide has register major market share during the estimated time period (2022-2028) and is likely to maintain its dominance over the estimated time period. The Asia Pacific iodine derivatives market finds its major application in pharmaceutical, food & feed, cosmetics, agrochemical, electronics, nylon production, and others (chemical, sanitation). food & feed is expected to witness the demand for iodine derivatives market at specific growth rate during the estimated time period (2022-2028). Geographically, the Asia Pacific iodine derivatives market is studied across the countries of the China, India, Japan, and Rest of APAC. The China dominates the Asia Pacific iodine derivative market, followed by India.
1) What are the drivers for iodine derivatives market?
The key driving factors of the market are increasing use of iodine derivatives in human food and animal feed and increasing use of iodine in optical polarizing films in LCD applications
2) Which is the leading application segment for iodine derivatives market?
Pharmaceutical has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
3) Which country is gaining majority of market share during the forecast period (2021-2028)?
China is expected to gain major market share during the forecast period (2021-2028).