The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the United States iodine derivatives market. In addition, complete analysis of changes on the United States iodine derivatives market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on United States economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19 pandemic, United States 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.
The key factor driving the market growth are increasing use of iodine derivatives in human food and animal feed. Iodine is an essential nutrient for both humans and animals. Deficiencies of iodine in animals can cause severe health effects such as goitre and reduced growth rates. For instance, in September 2018, Micronutrients USA and Kemin Industries launched Intelli Bond VITAL 5 CR as an essential nutrition package containing six essential trace minerals. The introduction of Intelli Bond VITAL 5 Cr comes at a time when concern is rising about the integrity of feed ingredients sourced from outside the United States. The new offering delivers zinc, manganese, copper, cobalt and iodine from Micronutrient’s essential Intelli Bond VITAL 5 blends, with the added power of Kemin’s Kem Trace Chromium.
The United States 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 United State countries. A total of 36.5% (285 million) school-age children were estimated to have an insufficient iodine intake, ranging from 10.1% in the WHO region of the Americas. 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 United States 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 United States 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 United States 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 2021-2028.
The United States iodine derivatives market comprises of different market segment like type and application.
The type studied in the United States 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. While potassium iodide is used for the iodization for salt and is used for some industrial purposes. Furthermore, majority of application where potassium iodate has increased its requirement is in the manufacturing of iodized salt and to some extent it is also used in the pharmaceutical industry. In pharmaceutical, potassium iodate has its primary use as medication and as dietary supplement. And is also used as ingredient in some baby formula milk.
The United States iodine derivatives market finds its major application in pharmaceutical, food & feed, cosmetics, agrochemical, electronics, nylon production, and others (chemical, sanitation). Pharmaceutical is likely to gain major market share during the estimated time period. with the increasing development of medical technologies and demand for iodine in the pharmaceutical applications, increasing population with iron deficiency, increased demand for use in disinfectant (due to Covid-19) is likely to provide ample of opportunities where iodine derivatives are widely used for preparing disinfectants, bactericides, and analgesics among others. Thereby pharmaceutical industry has witnessed driving demand for market for pharmaceutical chemicals, for API production, R&D among others.
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 is a halogen element in group seven of the periodic table; it is blue-black in color and has a shiny appearance. The atomic number for the element is 53. Iodine and its derivatives are widely used as an intermediate in industrial chemicals and human nutrition. Iodine is known as a chemical material that turns purple by reacting with starch and being contained in various seaweed types. The salt concentration in brine is almost the same as that in seawater. The United States iodine derivatives market comprises of different market segment like type and application. The type studied in the United States 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 United States iodine derivatives market finds its major application in pharmaceutical, food & feed, cosmetics, agrochemical, electronics, nylon production, and others (chemical, sanitation). Pharmaceutical is likely to gain major market share during the estimated time period.
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.