The Asia Pacific iodine derivatives market size is projected to reach US$ 540.49 million by 2031 from US$ 317.56 million in 2023. The market is expected to register a CAGR of 6.9% during 2023–2031. Rising focus on the development of water treatment infrastructure is likely to serve as a key Asia Pacific iodine derivatives market trend in the coming years.
Iodine derivatives are an integral part of operations in the pharmaceutical industry. These derivatives are used as diagnostic imaging agents to visualize internal organs and body structures, including the thyroid gland, blood vessels, and bones. They are also used as antimicrobial agents in pharmaceuticals. Iodine has been known for its antimicrobial properties, and it is still widely used as a disinfectant and antiseptic. A few iodine derivatives are also used in the production of certain medications, such as antibiotics and thyroid hormones. Thus, the strong pharmaceutical industry in Asia Pacific generates a huge demand for various iodine derivatives.
The Asia Pacific iodine derivatives market is witnessing significant growth owing to the increasing demand from various end-use industries, such as pharmaceuticals, agriculture, and chemicals. The region is one of the largest producers of iodine, with Japan being a key contributor; the country also accounts for a substantial share of global iodine production output due to its rich natural brine sources. Iodine derivatives, including potassium iodide, sodium iodide, and iodine monochloride, are widely used in the region for applications such as X-ray contrast media, antiseptics, and animal feed additives. The pharmaceutical industry remains the dominant consumer due to the critical role of iodine in medical imaging, antiseptics, and nutritional supplements. Additionally, the agriculture sector in countries such as India and China has been increasingly adopting iodine derivatives for crop protection and as micronutrient additives in animal feed. Technological advancements, increased R&D activities, and rising health awareness are also fostering market expansion.
Potassium iodide is used as a nutrient additive to ensure that dietary needs for iodine are met. It is commonly used to fortify certain food products, particularly table salt, which can be credited to its high stability and no interference with the inherent taste, color, or texture of the salt. Iodine deficiency is one of the major health concerns in many countries. Micronutrients are needed in smaller amounts for the body's general growth and nourishment, preventing any type of deficiency. The most prevalent micronutrients include vitamins, minerals, selenium, copper, and iodine. The consequences of iodine deficiency include goiter, hypothyroidism, mental impairment, and pregnancy complications. Many countries have implemented iodine fortification programs, which involve adding iodine to common foods and table salt to combat iodine deficiency and its associated health problems. According to a UNICEF report, 52 million children under the age of 5 live in the East Asia and Pacific region. In Asia Pacific, one in every two children suffers from some form of micronutrient deficiency. Thus, the prevalence of malnourishment and iodine deficiencies drives the demand for potassium iodide for food fortification in Asia Pacific countries.
Iodine derivatives are integral in the production of various chemicals. A group of iodine derivatives, known as "organoiodine" compounds, are used as intermediates in large-scale production of pesticides and disinfectants, and soil fumigants. The chemicals industry is proliferating in several Asia Pacific countries. China is a frontrunner in chemical production, particularly fundamental chemicals. According to the Information Technology & Innovation Foundation, the country accounted for 44% of global chemical production and 46% of the total capital investment in 2022. Various Chinese companies are making efforts to gain a competitive advantage in the fine chemicals industry. At the same time, they are raising their investments in research and development to become more innovative, with the government providing significant support. According to the Organisation for Economic Co-Operation and Development (OECD), China led the world economy in 2020 with 29.1% of chemicals industry value-added output, up from 3.8% in 1995. In Japan, the chemicals industry is the second largest manufacturing industry.
Key segments that contributed to the derivation of the Asia Pacific iodine derivatives market analysis are type and application.
The Asia Pacific iodine derivatives market report focuses on the market scenario in terms of historical market revenues and forecasts in chief countries in this region. Australia, China, India, Japan, and South Korea are the key contributors to the iodine derivatives market in Asia Pacific. The Asia Pacific iodine derivatives market has been witnessing significant growth, driven by the rising demand across various industries such as pharmaceuticals, agriculture, and chemicals. Iodine derivatives—including potassium iodide, sodium iodide, and iodine monochloride—are essential in the production of pharmaceuticals, where they are used in antiseptics, disinfectants, and other medical applications. The growing healthcare sector in countries such as China, India, and Japan has spurred the demand for these derivatives, particularly with the rise in awareness and adoption of advanced medical treatments. With the region facing increasing challenges related to water scarcity and pollution, the demand for effective water treatment solutions, including iodine derivatives, is on the rise. Thus, as the region progresses and industrializes, the demand for iodine derivatives is expected to remain strong, providing growth opportunities for the iodine derivatives market in Asia Pacific.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 317.56 Million |
| Market Size by 2031 | US$ 540.49 Million |
| Global CAGR (2023 - 2031) | 6.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The Asia Pacific Iodine Derivatives market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the market are listed below:
The "Asia Pacific Iodine Derivatives Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The List of Companies - Asia Pacific Iodine Derivatives Market
China dominated the market in 2023.
The growing demand from the pharmaceutical industry is a key factor driving the market growth.
The potassium iodide segment dominated the market in 2023.
Rising focus on water treatment infrastructure acts as a future trend for the market.
AJAY SQM; Nanjing Taiye Chemical Industry Co., Ltd.; Silverline Chemicals; Infinium Pharmachem Limited; Calibre Chemicals Pvt Ltd; Amphray Laboratories; Samrat Pharmachem Limited; TOHO EARTHTECH,INC; ISE CHEMICALS CORPORATION; and Tai'an Hanwei Group Co., Ltd. are a few of the key players operating in the Asia Pacific iodine derivatives market.
The pharmaceutical segment dominated the market in 2023.