The average price of iodine in the United States stood at some ** U.S. dollars per kilogram in 2023, a considerable increase compared the previous year. This figure represents the highest average price of this compound in the period of consideration.

In February 2025, the average iodine import price amounted to $65,215 per ton, flattening at the previous month.

Snapshot img

US Iodine Market Size 2025-2029

The US iodine market size is forecast to increase by USD 60 million at a CAGR of 4.5% between 2024 and 2029.

The Iodine market in the US is experiencing significant growth, driven primarily by the expanding smartphone industry. Iodine is an essential component in the production of various electronic devices, including smartphones, making it a vital element in the technology sector's expansion. Another key trend shaping the market is the increasing adoption of iodine recycling processes, which not only reduces the environmental impact but also offers cost savings for manufacturers.
However, the market faces challenges, including the periodic fluctuation in iodine prices, which can pose risks for businesses relying on stable supply chains. Effective price risk management strategies and diversification of supply sources are crucial for companies seeking to mitigate these challenges and capitalize on the market's growth opportunities.

What will be the size of the US Iodine Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

In the dynamic US market, iodine and its derivatives continue to play a pivotal role in various industries. Iodine-containing catalysts and organic chemistry applications contribute significantly to industrial production. In healthcare, iodine is essential for hospital infection control, as an X-ray contrast agent in diagnostic imaging, and as a critical component in thyroid cancer treatment and radioisotope therapy. Iodine-based polymers find applications in food safety, water quality testing, and water treatment. Anti-infective drugs, iodine-mediated reactions, and iodine-containing pharmaceuticals are integral to medical research and development.
Iodine-based sensors are vital in material science, environmental monitoring, air quality monitoring, and soil analysis. Additionally, iodine is used in CT scans, chemical reactions, and anti-parasitic drugs. The market for iodine-based products continues to expand, with ongoing research and development in diagnostics, analytical chemistry, and nuclear medicine.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Source

  Underground brine
  Caliche ore


Form Factor

  Organic compounds
  Inorganic salts and complexes
  Elementals and isotopes


Application

  Medical
  Optical polarizing films
  Fluorochemicals
  Biocides
  Others


Geography

  North America

    US

By Source Insights

The underground brine segment is estimated to witness significant growth during the forecast period.

Iodine is a crucial element with various applications in the US market, primarily sourced from underground brines. These brines, found in regions with salt deposits or near oceanic areas, contain dissolved iodine compounds. For instance, the Anadarko Basin in Oklahoma hosts the largest iodine mining brine in the US, with around 300 parts per million (ppm) of iodine. The extraction process begins with drilling wells to extract the brine. Subsequently, impurities are removed, and the iodine content is concentrated through various purification methods. Iodine is then isolated using techniques such as chemical synthesis or brine extraction. The isolated iodine is available in various forms, including iodine tablets, potassium iodide, nutritional supplements, and industrial grade iodine.

Iodine's antiseptic properties make it essential in healthcare applications, such as iodine ointment and iodine tincture, while iodine crystals and iodine-based polymers are used in industrial applications. Regulatory bodies like the FDA and EU enforce strict regulations on iodine production, ensuring quality control and safety. Iodine's environmental impact is a concern, with iodine emissions a significant issue. However, sustainability practices and advancements in iodine waste management are mitigating these concerns. Iodine's anti-inflammatory activity and role in goiter prevention have led to its inclusion in food fortification, such as iodized salt. Pharmaceutical grade iodine is used in the production of iodine patches and solutions for thyroid health and wound healing.

New applications, such as iodine catalysts and iodine-containing compounds, are continually emerging. Iodine's antiviral and antimicrobial activity is also gaining attention in the healthcare sector. In the food industry, dietary iodine is essential for maintaining thyroid health. Iodine deficiency can lead to various health issues, including goiter. The global iodine market is expected to grow due to increasing awareness and demand f

In July 2023, the price of Iodine stood at $52,419 per ton (FOB, Japan), representing a 6% increase from the previous month.

In 2022, the market value of iodine amounted to approximately 1.06 billion U.S. dollars worldwide. By 2030, this figure is forecast to grow to around 1.38 billion U.S. dollars.

The global iodine market size reached USD 1,044.6 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,575.9 Million by 2033, exhibiting a growth rate (CAGR) of 4.44% during 2025-2033. The growing demand for iodine in the healthcare industry for medical imaging and treatments is accelerating the market.

Snapshot img

Iodine Market Size 2024-2028

The iodine market size is forecast to increase by USD 252.26 million at a CAGR of 4.66% between 2023 and 2028.

The market is experiencing significant growth due to several key factors. The expansion of the smartphone industry is driving the demand for iodine refining services and solutions, as iodine is a crucial component in the production of certain electronic devices. Advancements in iodine refining systems and technologies are improving the purification process, leading to higher quality iodine and increased production. Several methods are employed for iodine refining, including distillation, crystallization, and membrane separation.
Additionally, the price of iodine has been fluctuating, presenting both opportunities and challenges for market participants. Iodine refining operations require specialized machinery and expertise, making it essential for companies to invest in reliable and efficient solutions to remain competitive in the market. Overall, the market is poised for continued growth as these trends and challenges shape the industry landscape.

What will be the Size of the Market During the Forecast Period?

Request Free Sample

Iodine is a vital element in the halogen family, primarily used as an essential nutrient for humans and animals, as well as a critical component in various industries. Iodine compounds play a significant role in diverse applications, including pharmaceuticals, agriculture, food processing, and chemical manufacturing. Iodine is primarily sourced from natural deposits, such as brine pools and seaweed. The extraction and refining processes are essential to obtain high-purity iodine. Several methods are employed for iodine refining, including distillation, crystallization, and membrane separation. Iodine refining processes aim to remove impurities and contaminants, ensuring the production of high-quality iodine.
Additionally, the refining techniques involve several stages, including pre-treatment, filtration, and final purification. Iodine refining companies offer various services and solutions to meet the specific requirements of different industries. Iodine refining regulations and standards are crucial to ensure the safety and quality of iodine products. Compliance with these regulations and certifications is essential for iodine refining operations to maintain their reputation and customer trust. Iodine refining machinery and equipment are designed to optimize the refining processes, ensuring efficiency and productivity. These systems are subject to continuous improvement to meet the evolving demands of the market and the increasing focus on sustainability.
However, the market is driven by the growing demand for iodine derivatives, such as iodine monochloride and iodine pesticides, in various industries. The increasing awareness of iodine's importance as a nutrient and the rising demand for pharmaceutical applications are also significant factors contributing to the market growth. The refining processes play a crucial role in ensuring the production of high-quality iodine, and the regulations and certifications are essential to maintain safety and quality standards. The continuous focus on innovation and sustainability is expected to shape the future of the market.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  XR contrast media
  Pharmaceuticals
  LCD and LED screens
  Nutrition
  Others


Source

  Caliche ore
  Underground brines


Geography

  Europe

    Germany
    France


  North America

    US


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Application Insights

The XR contrast media segment is estimated to witness significant growth during the forecast period.

Iodine plays a significant role in the healthcare industry, particularly in the production of X-ray contrast media. The market is witnessing several opportunities and advancements due to the unique properties of iodine in enhancing the contrast between body tissues and organs during diagnostic imaging. Iodine's high atomic number and density enable it to block X-rays, making it an essential component in X-ray and CT scans. However, refining iodine comes with challenges. The process requires careful handling due to iodine's corrosive nature and high reactivity. Innovations in iodine refining techniques, such as membrane filtration and ion exchange, have been instrumental in addressing these challenges.

Additionally, regulatory bodies have set strict guidelines for iodine production and usage, ensuring its safety and efficacy. Despite these challenges, the market continues to

The Iodine Market report segments the industry into Source (Underground Brine, Caliche Ore, Recycling, Seaweeds), Form (Inorganic Salts and Complexes, Organic Compounds, Elementals and Isotopes), End-User Industry (Animal Feed, Medical, Biocides, Optical Polarizing Films, Fluorochemicals, Nylon, Other End-user Industry), and Geography (Asia-Pacific, North America, Europe, South America, Middle East and Africa).

In February 2023, the iodine price reached $60,606 per ton (CIF, US), a 3.9% increase from the previous month.

For the fourth consecutive year, the Indian iodine market recorded growth in sales value, which increased by 45% to $265M in 2024. Overall, consumption continues to indicate a resilient expansion. Over the period under review, the market reached the maximum level in 2024 and is likely to see steady growth in the near future.

The global iodine raw material market, valued at approximately $800 million in 2014 and exhibiting a Compound Annual Growth Rate (CAGR) of 5.3%, is poised for continued expansion. This growth is fueled by increasing demand across diverse applications, primarily driven by the medical sector's reliance on iodine for disinfectants and pharmaceuticals, and the food and animal nutrition industries' utilization of iodine for essential nutrient supplementation. Expanding industrial applications, particularly in electronics and catalysts, also contribute to market growth. While challenges remain, such as price volatility influenced by raw material sourcing and geopolitical factors, the market is expected to show resilience. Technological advancements in iodine extraction and purification methods are expected to enhance efficiency and lower production costs, further supporting market growth. The market segmentation highlights significant consumption from saltpeter minera iodine, reflecting the dominance of this source in the supply chain. Future growth will likely be influenced by the development of sustainable sourcing practices, as well as ongoing research into the health and environmental benefits of iodine. Looking ahead to 2033, projections suggest robust market performance. Considering the historical CAGR and factoring in anticipated growth drivers, the market is estimated to surpass $1.5 billion by 2033. Regional growth will vary; North America and Asia Pacific are expected to continue to dominate the market share due to established industrial bases and growing demand in developing economies. However, other regions will experience growth, driven by increasing healthcare spending and food safety regulations. Competitive dynamics will continue to shape the market, with major players focusing on technological innovations, strategic partnerships, and geographic expansion.

According to Cognitive Market Research, the global iodine market size will be USD 796.2 billion in 2024and will expand at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031. Market Dynamics of IodineMarket

Key Drivers for IodineMarket

Increased demand in the healthcare and pharmaceutical industry- One of the main reasons the iodine market is growing is due to the growing demand in the healthcare and pharmaceutical industries. Iodine is crucial in medical applications such as disinfectants, contrast media for imaging, and pharmaceutical products like antiseptics and thyroid medications. Rising healthcare expenditures globally, coupled with growing awareness of iodine's health benefits, particularly for thyroid function, drive its demand. Furthermore, iodine's role in nutrition, especially in regions with iodine deficiency, amplifies its market growth.
The environmental concerns and regulationsare anticipated to drive the iodine market's expansion in the years ahead.

Key Restraints for Iodine Market

The price volatilityposes a serious threat to the iodine industry.
The market also faces significant difficulties related to fluctuating demand for iodine.

Introduction of the Iodine Market

Iodine is a chemical element essential for thyroid hormone production, crucial for regulating metabolism and growth. It exists naturally in seawater and soil, and its deficiency can lead to thyroid disorders. Industrially, iodine is used in medical disinfectants and dyes and in the production of LCD screens and pharmaceuticals. Its critical role in various industries such as healthcare, pharmaceuticals, and nutrition; iodine's applications in X-ray contrast media and as a disinfectant; industrial expansion, healthcare advancements, supply constraints and regulatory changes, strong healthcare sector, technological innovations, iodine's diverse industrial applications, and regional demand variations are influencing the iodine market growth.

The iodine and its derivatives market is experiencing robust growth, driven by increasing demand across various sectors. The market, estimated at $X billion in 2025 (assuming a reasonable market size based on industry averages and given CAGR), is projected to exhibit a Compound Annual Growth Rate (CAGR) of XX% from 2025 to 2033, reaching a value of approximately $Y billion by 2033. This growth is fueled by several key factors, including the expanding use of iodine in pharmaceuticals (particularly as a key component in contrast media for medical imaging), the rising demand for iodine-based disinfectants and sanitizers in the healthcare and food processing industries, and its increasing application in animal feed supplements to enhance livestock productivity. Furthermore, the growth of the electronics industry, where iodine compounds find use in specialized displays and semiconductors, contributes significantly to market expansion. However, challenges remain, including price volatility associated with raw material availability and environmental concerns related to iodine extraction and processing, which might put a slight restraint on the overall market expansion. Several key segments contribute to the market's overall structure. While specific segment breakdown wasn't provided, it's likely the market is divided based on iodine derivative type (e.g., potassium iodide, iodine solutions, iodinates), application (pharmaceutical, industrial, agricultural), and geographical region. Leading companies such as SQM, Cosayach, Ise Chemicals, Algorta Norte S.A., Godo Shigen, Iochem, Nippoh Chemicals, RB Energy, Toho Earthtech, Iofina, Wengfu, Gather Great Ocean, and Xinwang are actively shaping the competitive landscape through innovations in production technologies and strategic partnerships. The market's future prospects remain strong, with potential for even more rapid growth driven by technological advancements and increasing global demand for iodine-based products. Continued focus on sustainability and responsible sourcing practices will be crucial for long-term market success.

In 2023, the amount of iodine imported into Italy skyrocketed to 3K tons, jumping by 36% on the previous year.

The iodine and iodine derivatives market, valued at $4763 million in 2025, is projected to experience steady growth, driven by increasing demand across diverse sectors. The Compound Annual Growth Rate (CAGR) of 2.9% from 2025 to 2033 indicates a consistent expansion, fueled primarily by the pharmaceutical industry's reliance on iodine for contrast agents in medical imaging procedures. Furthermore, the growing use of iodine in disinfectants and sanitizers, particularly within healthcare settings and water treatment facilities, is contributing significantly to market growth. Other key application areas include animal feed supplements and industrial catalysts, adding to the market's overall robustness. Competitive pressures among major players like SQM, Cosayach, and Ise Chemicals, alongside emerging players in regions like Asia-Pacific, are shaping market dynamics. While potential supply chain disruptions and fluctuating raw material prices could pose challenges, the inherent versatility of iodine and its crucial role in several essential applications are anticipated to ensure consistent demand throughout the forecast period. The market segmentation, though not explicitly provided, can be logically inferred. We can anticipate segments based on application (pharmaceutical, industrial, agricultural, etc.) and geographical region. Considering the global presence of listed companies, regional variations in demand are expected, with North America and Europe likely holding significant market shares initially, followed by a gradual rise in Asia-Pacific due to increasing industrialization and population growth. This expanding demand will likely encourage the development of more sustainable and cost-effective iodine extraction and production methods, further influencing market dynamics. The historical data (2019-2024) would inform a more precise analysis of past trends, confirming the overall projected growth trajectory. Furthermore, specific regulatory changes affecting iodine usage in various regions need to be factored for a comprehensive market analysis.

The United States iodine market, valued at approximately $XX million in 2025, is projected to experience robust growth, exceeding a 3% compound annual growth rate (CAGR) through 2033. This expansion is fueled by several key drivers. Increasing demand from the animal feed industry, driven by the recognized benefits of iodine in livestock health and productivity, is a significant factor. The medical sector, utilizing iodine in various pharmaceuticals and diagnostic tools, also contributes substantially to market growth. Furthermore, the burgeoning biocides market, leveraging iodine's antimicrobial properties, presents a significant opportunity. Growth in specialized applications like optical polarizing films and fluorochemicals further enhances market prospects. While specific production data for each source (underground brines, caliche ore, recycling, seaweeds) is unavailable, the market is likely to see a continued emphasis on sustainable and efficient extraction methods, potentially increasing the prominence of recycling initiatives and seaweed harvesting. The dominance of inorganic salts and complexes within the product forms segment is expected to persist, given their cost-effectiveness and widespread applicability. However, market growth may be tempered by certain restraints. Fluctuations in raw material prices and potential supply chain disruptions could impact profitability and market stability. Moreover, stringent regulations surrounding the handling and use of iodine, particularly in medical and industrial applications, pose a potential challenge. Competitive dynamics, with established players like SQM SA and Iofina alongside emerging companies, will continue to shape market share distribution. Geographical factors, with the US representing a significant portion of the North American market, will remain crucial. Considering the current growth trajectory and market dynamics, the US iodine market is poised for continued expansion, particularly within the segments benefiting from increasing health awareness and technological advancements. Recent developments include: In February 2022, Iofina was in negotiations with brine partners to create a new iodine plant, IO9. These negotiations are progressing, with the expectation to commence construction before 2022 ends. The company believes the outlook for iodine demand will remain strong in 2022.. Key drivers for this market are: Increasing Demand from the Medical Sector, Other Drivers. Potential restraints include: Increasing Demand from the Medical Sector, Other Drivers. Notable trends are: Increasing Demand from the Medical Sector.

The iodine market, exhibiting a Compound Annual Growth Rate (CAGR) of 5.48% from 2019 to 2024, is poised for continued expansion through 2033. This growth is driven by increasing demand from diverse sectors including pharmaceuticals (especially in contrast media and disinfectants), animal feed supplements (for thyroid function in livestock), and the chemical industry (as a catalyst and reagent). The rising global population and consequent increased healthcare needs significantly contribute to the market's expansion. Furthermore, technological advancements leading to more efficient iodine extraction and production processes, along with the growing awareness of iodine deficiency disorders (IDDs) and their impact on public health, fuel market growth. However, price fluctuations in raw materials and stringent environmental regulations surrounding iodine production present challenges to sustained growth. The market is segmented based on application (pharmaceuticals, animal feed, chemicals, etc.), type (iodide, iodate, etc.), and geography. Major players, including SQM SA, Iofina, and Godo Shigen Co Ltd, are actively involved in market consolidation and strategic partnerships to enhance their market share and product offerings. The market shows regional variations in growth, with developed economies like North America and Europe exhibiting steady growth, while developing economies in Asia-Pacific are projected to witness faster expansion, driven by increasing industrialization and rising disposable incomes. The forecast period (2025-2033) anticipates consistent growth, albeit potentially at a slightly moderated rate compared to the historical period. This moderation could be attributed to factors like market saturation in certain segments and ongoing regulatory scrutiny. Nevertheless, the expanding pharmaceutical and animal feed sectors, along with the development of new applications for iodine in emerging fields like advanced materials and electronics, suggest robust growth potential for the long term. Companies are increasingly focusing on sustainable and environmentally friendly iodine production methods, reflecting growing environmental awareness and a desire to mitigate the associated risks. Strategic acquisitions and joint ventures are also expected to influence market dynamics in the coming years, leading to greater market concentration amongst leading players. Recent developments include: The recent developments pertaining to the major players in the market will be covered in the complete study.. Key drivers for this market are: Increasing Demand in X-ray Contrast Media, Growing Iodine Deficiency Among People. Potential restraints include: Increasing Demand in X-ray Contrast Media, Growing Iodine Deficiency Among People. Notable trends are: The Medical Segment is Expected to Dominate the Market.

Throughout Q1 2025, Potassium Iodide prices in the U.S. exhibited dynamic movement, marked by early gains in January and February followed by a modest correction in March. In January, prices climbed amid strong pharmaceutical demand and tight supply conditions. Logistics bottlenecks, particularly at the Port of Los Angeles, coupled with rising freight rates and labor shortages, extended lead times and increased import costs. These disruptions amplified market volatility, encouraging proactive inventory strategies that supported upward price momentum.

Get the latest insights on price movement and trend analysis of Potassium Iodide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The global underground brine iodine market is experiencing robust growth, driven by increasing demand from diverse sectors. While precise market size figures for 2025 aren't provided, we can estimate it based on available information and industry trends. Assuming a conservative market size of $500 million in 2025 and a CAGR of, for instance, 5% (a plausible figure given industry growth rates for similar materials), the market is projected to reach approximately $700 million by 2033. Key drivers include the expanding pharmaceutical industry's need for high-purity iodine in medications, the rising use of iodine in animal feed supplements, and consistent demand from the chemical and glass industries. Technological advancements in extraction techniques and purification processes further contribute to market expansion. However, the market faces restraints, primarily the price volatility of iodine influenced by global supply chain dynamics and environmental concerns associated with brine extraction and processing. Segmentation reveals that high-purity iodine dominates the market, owing to its critical role in pharmaceuticals. Geographically, North America and Asia Pacific regions are expected to be leading consumers, fueled by strong industrial growth and increasing health consciousness in these regions. The competitive landscape is moderately concentrated, with key players like SQM, Cosayach, and Ise Chemicals holding significant market share. New entrants face challenges in establishing a presence due to substantial capital investment needs and strict regulatory requirements for iodine production and handling. Furthermore, the market is influenced by fluctuating raw material costs, stringent environmental regulations, and the increasing adoption of sustainable and eco-friendly extraction and production processes. Continued growth is anticipated, albeit with challenges to navigate, particularly regarding supply chain resilience and environmental stewardship. Future growth hinges on successful innovation in extraction methods, the ability to meet stringent quality requirements, and addressing environmental concerns associated with iodine production.