Asia Pacific Iodine Derivatives Market is expected to reach US$ 540.49 Billion by 2031

China Dominated Asia Pacific Iodine Derivatives Market During 2023–2031

According to our new research study on "Asia Pacific Iodine Derivatives Market Forecast to 2031 – by Type, Application, and Country," the market was valued at US$ 317.56 million in 2023 and is projected to reach US$ 540.49 million by 2031; it is expected to register a CAGR of 6.9% during 2023–2031. The report highlights key factors propelling the Asia Pacific iodine derivatives market growth and prominent players along with their developments in the market. Apart from growth drivers, the report covers the Asia Pacific iodine derivatives market trends and their foreseeable impact during the forecast period.

The geographic scope of the Asia Pacific iodine derivatives market report entails Australia, China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Thailand, Philippines, Vietnam, Taiwan, and Rest of Asia Pacific. China dominated the market in 2023. It is one of the fastest-growing economies in the world. Food, pharmaceuticals, chemicals, and agriculture are among the major industries in the country. According to the European Chemical Industry Council, with US$ 2.6 trillion in chemical sales, China was the largest chemical producer in the world in 2022. In the chemical industry, iodine derivatives are used in a variety of applications, including the production of specialty chemicals, catalysts, and biocides. These compounds are essential for various industrial processes, where their unique chemical properties—such as high reactivity and stability—make them invaluable in facilitating efficient chemical reactions.

Asia Pacific Iodine Derivatives Market

The pharmaceutical industry is the leading consumer of iodine derivatives in China, where these compounds are essential in the production of antiseptics, disinfectants, and radiographic contrast agents. According to the National Bureau of Statistics of China, in 2023, the total value added to the industrial sector was US$ 5.6 trillion (CNY 39,910.3 billion), up by 4.2% over the previous year. With the rapidly expanding healthcare sector to meet the needs of a large population base, the demand for advanced medical treatments and diagnostics is on the rise in China. This has led to an increased consumption of iodine derivatives, contributing to the growing Asia Pacific iodine derivatives market size.

The growth of iodine derivatives in Japan has been attributed to the strong growth of chemical, pharmaceutical, food, agriculture, and water treatment industries, as iodine derivatives are highly used in these industries. In the pharmaceutical industry, iodine derivatives are extensively utilized to produce antiseptics, disinfectants, and radiographic contrast agents. Japan's advanced healthcare system and focus on medical innovation drive a consistent demand for these products. The country's aging population and rising health consciousness further propel the need for iodine-based pharmaceuticals, as they are crucial for maintaining high standards of medical care and diagnostic precision.

Asia Pacific Iodine Derivatives Market: Trends

Water and wastewater treatment is becoming increasingly important in many countries in Asia Pacific as they progress toward their wastewater treatment targets with a significant focus on the protection of sensitive water systems. The surging demand for clean water, growing water contamination concerns, stringent government regulations regarding water treatment, and increasing industrial waste discharge into water bodies underline the need for initiatives to expand wastewater treatment facilities across Southeast Asia. In Singapore, the government has developed an advanced system to treat sewage, involving a network of tunnels and high-tech plants. According to Southeast Asia Infrastructure, as of 2022, recycled wastewater can potentially meet 40% of Singapore's water demand, and it is expected to rise to 55% by 2060. The country is also planning to invest ~US$ 7.4 billion in upgrading its water treatment infrastructure. Further, in Vietnam, rapid industrialization has had a negative impact on the environment and natural resources of the country. Burgeoning water pollution in the country has lowered the availability of potable water. The country has significant potential for large-scale water treatment facilities. The Vinh Long City Urban Development and Enhanced Climate Resilience Project focuses on the development of wastewater collection and treatment, drainage, flood control systems, etc., in the country. It entails an investment of US$ 202.2 million.

Water and wastewater management is a promising subsector in India's environmental technology segment. According to the International Trade Administration, the country's demand for water is projected to be twice as much as the available supply by 2030. To overcome these challenges, public and private sector facilities have devised ambitious plans to develop comprehensive water and wastewater treatment and distribution infrastructure. Iodine derivatives, particularly iodine-based disinfectants, play an instrumental role in water and wastewater treatment by effectively killing harmful microorganisms, making water safe for consumption. Thus, the rising focus on the reinforcement of water and wastewater treatment systems is expected to boost the Asia Pacific iodine derivatives market growth during the forecast period.

Asia Pacific Iodine Derivatives Market: Segmental Overview

The Asia Pacific iodine derivatives market analysis has been performed by considering the following segments: type and application. By type, the market is segmented into potassium iodate, calcium iodate, sodium iodate, ethylenediamine dihydroiodide, potassium iodide, copper iodide, silver iodide, ferrous iodide, povidone-iodine, and others. The potassium iodide segment held the largest Asia Pacific iodine derivatives market share in 2023. Potassium iodide (KI) is one of the most common and stable sources of iodine and has a broad range of applications across different fields. In medicine, potassium iodide is used as a treatment for hyperthyroidism, a condition characterized by the overproduction of thyroid hormones. It functions by inhibiting the release of thyroid hormones, thereby reducing the symptoms associated with this condition. Potassium iodide is also utilized as a protective measure during nuclear emergencies. When administered promptly, it can saturate the thyroid gland with nonradioactive iodine, thereby preventing the uptake of harmful radioactive iodine isotopes released during a nuclear event. This helps to reduce the risk of thyroid cancer, particularly in children and young adults, who are more susceptible to radiation-induced thyroid damage. In the food industry, potassium iodide is commonly added to table salt (iodized salt) to prevent iodine deficiency, which can lead to health issues such as goiter and cognitive impairments. In addition, potassium iodide serves as an essential reagent in analytical chemistry, often used in redox reactions and as a source of iodine for various chemical syntheses.

In terms of application, the market is segmented into pharmaceutical, food, paints and coatings, agriculture, chemical, water treatment, nylon, LCD/polarizing films and others. The pharmaceutical segment held the largest Asia Pacific iodine derivatives market share in 2023. Iodine derivatives have a wide range of applications in pharmaceuticals, wherein they are used as diagnostic imaging and antimicrobial agents. Iodine derivatives are used to visualize internal organs and structures in the body, such as the thyroid gland, blood vessels, and bones. These derivatives also form a significant part of the composition of antimicrobial agents and other pharmaceuticals. Iodine is known for its antimicrobial properties and is still widely used as a disinfectant and antiseptic. Its derivatives, such as povidone-iodine, are used as topical antiseptics to prevent and treat skin and wound infections.

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 among the leading companies profiled in the Asia Pacific iodine derivatives market report.

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