Market Size of India Iodine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Iodine Market Analysis
The iodine market in India is expected to register a CAGR of over 6.5% during the forecast period.
The outbreak of the COVID-19 pandemic resulted in a lack of labor, supply chain disruptions, and a general lack of demand across various sectors resulting in a slowdown in industrial activity across the country. The iodine market growth was hindered during this period with a sharp drop in manufacturing output. However, with the pharmaceutical industry registering strong growth even through the pandemic and the resumption of manufacturing activities across the nation, the demand for iodine is expected to strengthen during the forecast period.
- The rising demand for iodine in medical applications and the growth of the pharmaceutical industry is expected to drive the demand for the iodine market in the region.
- Similarly, growing meat and dairy consumption are expected to drive animal husbandry, further strengthening the demand for iodine used as additives in animal feed.
- Moreover, the growing need for water conservation and the resultant rise in industrial and municipal water treatment activities is anticipated to create future opportunities for the iodine market.
- On the flip side, health-related side-effects of iodine consumption could likely hamper market demand.
India Iodine Industry Segmentation
Iodine is a chemical that turns purple by reacting with starch and contains various seaweed types. The salt concentration in brine is almost the same as that in seawater. Iodine and its derivatives are indispensable in various nutritional, pharmaceutical, and industrial applications. The Indian iodine market is segmented by source, form, and application. By source, the market is segmented into underground brine, caliche ore, recycling, and seaweeds. By form, the market is segmented into inorganic salts and complexes, organic compounds, and elementals and isotopes. By application, the market is segmented into animal feeds, medical, biocides, optical polarizing films, fluorochemicals, nylon, and other applications. For each segment, market sizing and forecasts have been done on the basis of volume (tons).
| Source | |
| Underground Brine | |
| Caliche Ore | |
| Recycling | |
| Seaweeds |
| Form | |
| Inorganic Salts and Complexes | |
| Organic Compounds | |
| Elementals and Isotopes |
| Application | |
| Animal Feeds | |
| Medical | |
| Biocides | |
| Optical Polarizing Films | |
| Fluorochemicals | |
| Nylon | |
| Other Applications |
India Iodine Market Size Summary
The iodine market in India is poised for significant growth, driven by the robust expansion of the pharmaceutical industry and increasing demand in medical applications. The market experienced a temporary setback during the COVID-19 pandemic due to supply chain disruptions and reduced industrial activity. However, the resurgence of manufacturing and the pharmaceutical sector's resilience have set the stage for a strong recovery. The essential role of iodine in thyroid function and its growing use in nutritional supplements and medical treatments are expected to bolster market demand. Additionally, the rise in awareness about thyroid disorders is likely to further fuel the need for iodine supplements. The Indian pharmaceutical industry, a major contributor to the iodine market, is anticipated to continue its upward trajectory, supported by the country's extensive compliance with global regulatory standards and its position as a leading exporter of medical goods.
The demand for iodine is also expected to benefit from the growth in animal husbandry and the animal feed industry, driven by increased consumption of meat and dairy products. The animal feed sector, particularly poultry feed, dominates the market and is experiencing steady growth. This expansion is supported by India's strong export performance in meat, dairy, and poultry products. The iodine market is characterized by partial consolidation, with key players like Iochem Corporation and Calibre Chemicals Pvt. Ltd. actively participating in the market. Strategic acquisitions and collaborations, such as Everstone Capital's stake in Calibre Chemicals and the launch of i2cure, highlight the dynamic nature of the market, aiming to leverage iodine's diverse applications across various sectors.
India Iodine Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the Pharmaceutical Industry
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1.1.2 Growth in the Animal Feed Industry
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1.2 Restraints
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1.2.1 Health-related Side-effects of Iodine Consumption
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Source
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2.1.1 Underground Brine
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2.1.2 Caliche Ore
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2.1.3 Recycling
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2.1.4 Seaweeds
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2.2 Form
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2.2.1 Inorganic Salts and Complexes
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2.2.2 Organic Compounds
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2.2.3 Elementals and Isotopes
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2.3 Application
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2.3.1 Animal Feeds
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2.3.2 Medical
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2.3.3 Biocides
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2.3.4 Optical Polarizing Films
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2.3.5 Fluorochemicals
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2.3.6 Nylon
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2.3.7 Other Applications
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India Iodine Market Size FAQs
What is the current India Iodine Market size?
The India Iodine Market is projected to register a CAGR of greater than 6.5% during the forecast period (2024-2029)
Who are the key players in India Iodine Market?
Iochem Corporation, Deep Water Chemicals, Calibre Chemicals Pvt. Ltd., Akron Healthcare Pvt. Ltd. and Samrat Pharmachem Limited are the major companies operating in the India Iodine Market.
