How big is the Iodine Market | Size, Key Drivers & Future Trends 2025

Q: What is the market size of the iodine industry projected to be in 2031?

The iodine market is forecasted to reach approximately USD 2.7 billion by 2031.

Q: What is the projected growth rate of the iodine market?

The iodine market is expected to grow exponentially, reaching a CAGR of 4.20%.

Q: Which companies are dominating the iodine market share?

Iofina Plc, SQM, ISE Chemicals Corporation, Godo Shigen Co., Ltd., Nippoh Chemicals Co., Ltd., and among others are dominating the iodine market share.

Q: Which industries are the primary consumers of iodine?

Key consumers include the pharmaceutical, agriculture, electronics, and chemical processing industries.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA6543

Publication Date: Jul 2025

How Big Is the Iodine Market?

According to 6Wresearch internal database and industry insights, the Global iodine market was valued at USD 1.8 Billion in 2024 and is projected to reach USD 2.7 billion by 2031, growing at a CAGR of 4.20% during the forecast period (2025–2031).

This expansion is supported by rising demand from the healthcare and pharmaceutical sectors, growing applications in animal feed, and increasing use in x-ray contrast media, biocides, and catalysts in industrial processes.

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Growth Factors of the Iodine Market

Rising prevalence of thyroid disorders fueling pharmaceutical-grade iodine usage.
Increased demand for iodine-based contrast agents in diagnostic imaging.
Expanding agriculture sector using iodine in animal feed additives.
Growth in the use of iodine compounds in LCD polarizers and electronics.
Enhanced focus on food fortification initiatives in developing nations.
Widespread industrial applications including catalysts, biocides, and dyes.

Iodine Market Trends

Iodine Market is experiencing robust growth due to the surge in medical imaging procedures and nutraceutical applications. Companies are focusing on recycling iodine from spent materials to ensure sustainable sourcing. Technological improvements in iodine extraction and purification are improving yield and purity. Additionally, demand for iodine derivatives in electronics and water treatment is emerging as a new growth avenue.

Emerging Developments in the Iodine Market

Iodine Market is witnessing developments such as the introduction of nano-iodine for targeted drug delivery, innovative formulations for slow-release iodine in animal nutrition, and diversification into battery applications. Moreover, regulatory frameworks supporting iodine fortification in salt and food products are providing additional momentum to the industry.