Hydriodic Acid Market Overview:
Hydriodic acid is also known as Hydrogen Iodide (HI). The market of hydriodic acid has robust growth in the pharmaceutical sector for preparing various medicines. The disinfectant and sanitizing behavior of this acid kills germs and viruses and became driving force in the market. Region wise, APAC countries are largest markets for hydriodic acid market and next is North American region. The toxic and corrosive nature of this acid hinders the growth in some applications. But by following safety precautions, the market of hydriodic acid will grow during the forecast peiod 2018-2023.
Hydriodic Acid Market Outlook:
Hydriodic acid is highly acidic solution formed by reacting hydrogen Iodide with water. The properties of hydriodic acid are pale yellow to colorless, corrosive, highly reducing agent with pungent odor. The acid is available in different forms like powder, liquid and syrup. The application industries that use hydriodic acid are chemical, pharmaceutical, steel industries, electronics, textile, metal, lead refinements and so on. HYdriodic acid acts as disinfectant and used as sterilizing agent for cleaning medical tools and implements. To manufacture various pharmaceutical medicines, this hydriodic acid is used. It acts as catalyst, reagent and chemical admixture in various applications.
Hydriodic Acid Market Growth Drivers:
The end use applications are driving forces in this market. This Hydriodic aid is used as catalyst for manufacturing acetic acid, various disinfectants and sanitization activities in medical tools and for preparation of organic and inorganic compounds so on properties fuels the market growth.
Hydriodic Acid Market challenges:
The highly corrosive hydriodic acid reacts with metals, hydroxides, carbonates and other salts to produce metallic iodides. Also, on heating, hydriodic acid decomposes and generate toxic fumes. The highly corrosive and toxic behavior of hydriodic acid cause adverse effects if it is exposed to high concentrations and long term inhalation. The eyes get irritated and skin burns when contacted. So prevention of these adverse effects caused by hydriodic acid became challenge in the market.
Hydriodic Acid Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Hydriodic Acid Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Hydriodic Acid Market, and their specific applications in different types of vehicles.
Hydriodic Acid Market Report: Industry Coverage:
Forms of Hydriodic Acid: Powder, Liquid, syrup, other
End Product of Hydriodic Acid: Catalyst, Organic and Inorganic Iodide, reagent, sanitizing agent, disinfectant, others.
Packaging of Hydriodic Acid: HDPE drums, cylinders, bottles, others.
Applications of Hydriodic Acid: Chemical, pharmaceutical, steel industries, electronics, textile, metal, lead refinements, others.
Hydriodic Acid Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Hydriodic Acid Market Key Players:
- The key players referred in this market are Iofina, Ajay-SQM, Deep water chemicals, ITW Reagents, Godo Shigen, GFS chemicals, Omkar chemicals, Jindian Chemicals and 10 more companies.
- Hydriodic Acid Market Trends and Market Research:
- The Ministry of Commerce (MOC), China announces anti-dumping measures on hydriodic acid and ethanolamine chemicals which is imported from U.S and japan countries. The dumping causes damage to Chinese domestic industry. Also MOC asked security deposits from the dumped companies.
- The hydriodic acid acts as reducing agents for varieties of substrates. It easily convert to iodine but the reverse process of Iodine to some other reactions is difficult. So the research has done to convert iodine to HI using metal- catalyzed hydrogenation.
- The use of Hydriodic acid in pharmaceutical industries to produce medicines for chronic Bronchitis, malarial infections, scrofuia because more popular and trend in the market.
- The research done to determine Hydrogen Iodide or Hydriodic acid using gas chromatography and Mass spectrometer analysis. For this chemicals such as methane, ethane, ethylene, acetylene, propane, propylene, methyl-chloride, methyl-iodide and so on are used and decomposed to determine HI.