New York City, NY -- (SBWIRE) -- 04/11/2017 -- According to a new market report published by Persistence Market Research titled, "Iodine Market: Global Industry Analysis and Forecast, 2016–2024", the global market for iodine is estimated to be valued at US$ 1,679.4 Mn by 2024, Driven by Increasing Use of Iodine as Contrast Imaging Agent across the Globe and as Industrial Catalyst and Sterilizing Agent.

Request to view Table of Content @ http://www.persistencemarketresearch.com/market-research/iodine-market/toc

Iodine is a halogen element in group seven of the periodic table, with atomic number 53. It is blue-black in color and has shiny lustre. Iodine and its derivatives are widely used as an intermediate in industrial chemicals and for human nutrition. The element is sourced from water bodies such as oceans and water pools as well as from seaweed. Iodine deficiency in humans results in various health-related issues such as goiter, mental retardation, heart diseases, and eyesight problems.

In this report, the global iodine market has been segmented on the basis of regions. By 2024, the market in North America is expected to account for 21.6% volume share of the overall global iodine market, followed by APAC and Western Europe. Due to increasing prevalence of thyroid disorders among the aging population, especially in developing regions such as APAC, the iodine market in the region is projected to expand at a higher than average CAGR of 9.0% over 2016–2024 in terms of revenue. The market in MEA, which is anticipated to account for 7.0% revenue share of the overall global market by 2024 end, is expected to be driven by increasing use of iodine as catalysts in industries in the region. The iodine market in Latin America is estimated to register an average increase in revenue due to lower GDP growth in the region.

Sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/3591

The global iodine market has also been segmented on the basis of various applications. Catalysts segment in the global iodine market is expected to expand at a lower than average CAGR of 2.2% in terms of volume over 2016–2024, while X-ray contrast media segment is expected to expand at a CAGR of 4.4% over the same period. Extraction of iodine from nitrite ores is expected to be the highest in APAC due to abundance of caliche ores in the region. Extraction of iodine from natural brines in North America is expected to increase at a CAGR of 3.6% in terms of value during the forecast period.

To Buy Full Report for a Single User @ http://www.persistencemarketresearch.com/checkout/3591

Increase in GDP output is one of the major factors driving the iodine market. The market in APAC, which is expected to register exponential increase in GDP among various developing economies in the region, is expected to witness high revenue growth during the forecast period. Meanwhile, the market in developed economies is expected to decline in the near future due to lower GDP growth, thereby implying lower consumption compared to other economies.

By Source

- Natural Brines
- Nitrite Ores
- Others (Seaweed)

By Application

- X-Ray Contrast Media
- Catalysts
- Biocides
- LED/LCD Polarizing Films
- Feed Additives
- Human Nutrition
- Others

By Region

- North America
- Latin America
- Europe
- APAC
- MEA

About Persistence Market Research
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

PMR stands committed to bringing more accuracy and speed to clients' business decisions. From ready-to-purchase market research reports to customized research solutions, PMR's engagement models are highly flexible without compromising on its deep-seated research values.