New York, NY -- (SBWIRE) -- 10/31/2014 -- Iodine is a non-metallic element with symbol I and atomic number 53. It is one of the elements in group of elements, called halogen in the periodic table. Iodine is one of the rare elements found in seawater, seaweed, and in some minerals. It is one of the essential trace elements needed in regular diet for human nutrition, but iodine is toxic in its elemental form. Some of the properties of iodine are dark gray color, lustrous solid with a faintly bluish tinge and after heat, much of the substance turns directly into a vapor.

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Iodine has versatile applications in many industries from medicine, electronics to water disinfection equipments. Iodine and its derivatives are use in X-Ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical, salt iodization, polarizing films for liquid crystal displays (LCD), chemicals, herbicides, industrial catalysts, animal nutrition, biocides and nylon stabilizer.

Increasing healthcare awareness among individuals leads to increase in consumption pattern of dietary supplement products. These supplement products includes iodine ingredients in them. The growing demand of supplement products helps in the growth of iodine market across the globe.

Iodine also acts as an excellent antidote for common iodine deficiency disorders (IDD) such as goiter and thyroid ailments. Increase in such deficiency propels the demand of iodine in pharmaceuticals industry. This leads to increase in the growth of iodine market. Among various industrial and medicinal use, half of the application of iodine is use directly related to human health.

The global iodine market is currently growing at a steady rate and is expected to continue in the forecasted period. Growing world population accompanied by large number of aging individuals and increasing demand from end-use applications, act as major driver for growth of global iodine market. Increasing capital expenditure required for iodine production could pose a challenge for iodine market.

Increase in demand for iodine from developing countries of Asia Pacific is one of the key factors, which helps in the growth of iodine market. Regional consumption of iodine is highest in Asia Pacific region followed by Europe and North America region. Growing awareness level about iodine deficiency among the general population along with various governmental subsidized programs and social marketing activities help to increase the consumption of iodine. Around 75% of global consumption takes place in only ten countries including Japan, the U.S. and China. The global iodine market is expected to grow in a single digit growth rate in forecasted period and market in developing nations is expected to witness a higher growth rate as compared with the global market.

Some of the major companies operating in global iodine market are Iofina plc, ISE Chemicals Corp., Sirocco Mining Inc., Sociedad Química y Minera de Chile S.A. (SQM), ACF Minera S.A. Campania de Salitre y Yodo de Chile (Cosayach, Godo Shigen Sangyo Co. Ltd., Atacama Minerals Chile S.C.M, Cooper Chemical Company, Deepwater Chemicals, Delaval Cleaning Solutions, Glide Chem Pvt, Godo Shigen Sangyo, International Isotopes, IOCHEM Corporation, Iofina PLC, ISE Chemical Corporation, Nippoh Chemicals and Qingdao Brightmoon Seaweed Industry.

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