Global Industry Analysts Inc (GIA) announced the release of a comprehensive global report on Iodine. Global consumption of iodine is projected to reach 36.9 thousand metric tons by 2020, driven by persisting iodine deficiency in developing countries and the ensuing legislation of salt iodization programs in iodine-deficient countries in Africa and Asia.

Although the number of countries where iodine-deficiency is a major public health concern has halved over the last decade, few countries in Africa and Asia still continue to require primary intervention for the control of Iodine deficiency disorders (IDD). Salt iodization is therefore a major factor driving growth in developing countries.

Iodine production and supply will continue to remain limited, with production mostly concentrated in the United States, Chile, and Japan. Seaweeds, underground brines, and Caliche continue to remain the major sources for iodine extraction. Faced by supply shortages, recycling of iodine is growing in popularity and is expected to play a pivotal role in bridging the supply deficit gap in the coming years.

Europe represents the largest market worldwide. Unintended reduction in iodine consumption as a result of reduced consumption of salt in diets and shifting preferences for organic salts like Kosher salt and sea salt, are reigniting fears of iodine deficiency in the developed world. Asia-Pacific ranks as the fastest growing market with a projected CAGR of 6% over the analysis period. Increased production and consumption of iodized salt in India and China, is a key factor pushing the region’s demand for Iodine. The healthcare sector represents the largest end-use market, wherein X-ray contrast media accounts for a majority of the global demand. Optical Polarizing Films used in LCDs, represents the fastest growing market segment.