Global iodine market: 37,000 metric tons consumed by 2018

Consumption in the global Iodine market is projected to reach 36.8 thousand metric tons by 2018, driven by increasing demand from traditional end-use markets as well as new emerging applications.

In terms of production, Chile represents the largest producer of Iodine worldwide, followed by Japan and the US. Iodine production in Chile, based on caliche deposits, is cost effective compared to other countries where Iodine is sourced from brine. However, water shortages faced by certain companies are impacting production levels in the country. Given the supply shortages for Iodine in the global market, Iodine recycling is gaining paramount importance. The quantity of secondary Iodine, extracted primarily by recycling used OPF and waste x-ray contrast media, is increasing.

Growth in the iodine market witnessed signs of slowdown from the last quarter of 2007 leading to a decline in 2009, driven by reduction in demand in key end-use markets of animal feed, industrial applications, among others. Consumption of Iodine in the manufacture of optical polarizing films (OPFs) for LCD screens also plummeted during the period. The tsunami and earthquake that ravaged Japan in 2011 also impacted demand. Most of Japan's Iodine producing sites were situated in the region affected by the earthquake and tsunami thereby affecting production.

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