THAILAND RETAIL INDUSTRY SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 

Thailand Retail Market Analysis:

The anticipated growth of the Global Iodine Market is projected to increase from 38.55 kilotons in 2023 to 50.17 kilotons by 2028, with a Compound Annual Growth Rate (CAGR) of 5.41% during the forecast period (2023-2028).

The market has been negatively impacted by the COVID-19 outbreak, nationwide lockdowns worldwide, disruption in manufacturing activities and supply chains, and production halts. However, the market's growth trajectory has been restored during the forecast period due to the demand from the medical industry and recovery conditions in 2021.

In the short term, the increasing demand for X-ray contrast media, growing iodine deficiency among people, and vast applications of iodine derivatives are expected to drive the demand for iodine. However, the market is restrained by the toxicity of iodine and health-related issues due to excessive consumption. Nevertheless, the rising demand for biocides is expected to act as an opportunity.

By application, the medical sector is expected to dominate the market, owing to the increase in the usage of iodine to cure diseases like goiter. Europe dominates the global iodine market, with major consumption in countries such as Germany, the United Kingdom, and France.

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