The globaliodine marketsize is projected to reach USD 1,283.0 million by the end of 2027. The increasing applications of the product will bode well for market growth. According to a report published by Fortune Business Insights, titledIodine Market Size, Share COVID-19 Impact Analysis, By Source (Caliche Ore, Underground Brines, and Seaweed), By Application (X-Ray Contrast Media, Pharmaceuticals, Optical Polarization Films, Industrial Catalyst, Animal Feed, Fluorochemicals, Iodophors, Human Nutrition, Biocides and Others), and Regional Forecast, 2020-2027,the market was worth USD 915.9 million and will exhibit a CAGR of 4.4% during the forecast period, 2020-2027.
Applications across Diverse Industry Verticals will Emerge in Favor of Market Growth
The report highlights a few of the major industry developments of recent times and discusses their impact on the global market. The increasing applications of iodine across diverse industry verticals have certainly encouraged companies to invest more in the RD section. The presence of several large scale companies provides impetus to the growth of the market. Iodine is not just used in medical applications but also in cosmetics food and beverages and other large scale sectors. Although medical properties have been highlighted, the substance is also widely used in cosmetics as a coloring agent due to its elusive color. Their increasing investments in RMD will widen the application scope of the product in the coming years. Iodine is said to have exceptional medical properties although excessive consumption can also have a few negative effects.
Europe to Emerge Dominant; Increasing Healthcare Expenditure to Bode well for Market Growth
The report analyzes the ongoing market Trends across five major regions. Among all regions, the market in Europe is expected to hold the largest market share in the coming years. The presence of several large scale as well as regional companies in countries such as Germany, France, and the UK will contribute to the growth of the market. The increasing healthcare expenditure will also have a positive impact on the growth of the regional market. As of 2019, the market in Europe was worth USD 360.9 million and this value is projected to rise at a considerable pace in the coming years. Besides Europe, the market in North America will rise at a considerable pace driven by the increasing demand for the product in this region.
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https://www.fortunebusinessinsights.com/iodine-market-103889
