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The hydroiodic acid market is projected to grow by USD 103.36 million with a CAGR of 5.6% during the forecast period 2021 to 2026.
This hydroiodic acid market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the hydroiodic acid market segmentation by type (pharmaceutical grade and industrial grade) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The hydroiodic (HI) acid market report also offers information on several market vendors, including Ajay Europe SARL, Axiom Chemicals Pvt. Ltd., Deepwater Chemicals Inc., GFS Chemicals Inc., GHW International, GODO SHIGEN Co. Ltd., Infinium Pharmachem Pvt. Ltd., Iofina Plc, ITW Reagents, Manus Aktteva Biopharma LLP, Merck KGaA, Muby Chemicals, Naugra Export, Nippoh Chemicals Co. Ltd., Omkar Speciality Chemicals Ltd., Samrat Remedies Ltd., Shandong Boyuan Pharmaceutical Co. Ltd., and Taj Pharmaceutical Ltd. among others.
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Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the hydroiodic acid market. During the COVID-19 pandemic, the hydroiodic acid market demand has been impacted greatly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.
Key Hydroiodic Acid Market Driver
The increasing number of surgical procedures worldwide is one of the key factors driving the hydroiodic (HI) acid market's growth. Surgical site infections (SSIs) are defined as infections arising up to 30-90 days after surgery in patients, and they affect both the incisional site and the deeper tissues surrounding the surgical site. The increasing number of outpatient surgeries, also known as same-day surgeries, is propelling the demand for antimicrobial interventions, including antiseptics and disinfectants like hydroiodic acid. Hence, the chances of getting various infections are high among patients in healthcare facilities. Considering the advantages associated with outpatient surgery, such as greater convenience and reduced costs, many patients opt for these surgical procedures. This, in turn, will drive market growth during the forecast period.
Key Hydroiodic Acid Market Trend
Rising awareness about infectious diseases is one of the key hydroiodic (HI) acid market trends fueling market growth. The treatment cost for infectious diseases can lead patients and their families toward poverty and undermine the resilience of communities, thus presenting a major threat to a country's economy. Furthermore, alcohol-based hand sanitizers are disinfectants that contain more than 60% alcohol. Additionally, WHO has laid down necessary hand hygiene guidelines for healthcare professionals before performing surgeries, which necessitate the use of antimicrobial soaps or hydroiodic acid-based disinfectant hand rubs for surgical hand antisepsis. Hence, the rising awareness about infectious diseases and pathogens is expected to create an extensive need for hydroiodic acid-based disinfectants among end-users during the forecast period.
Key Hydroiodic Acid Market Challenge
The availability of low-cost non-alcohol-based disinfectants is one of the factors challenging the hydroiodic (HI) acid market's growth. Manufacturers of low-cost non-alcohol-based disinfectants significantly save production and transportation costs due to operations in regional or local markets. This makes counterfeit products less expensive than their genuine counterpart and increases their demand. Advertising and promotional campaigns conducted by vendors help in retaining and attracting customers and ensuring brand loyalty. However, these activities involve substantial expenses and reduce the profit margins of vendors. Low-cost non-alcohol-based disinfectants also impact volume sales, which increases the inventory backlogs of global vendors. Thus, the availability of low-cost non-alcohol-based disinfectants will restrict the growth of the market during the forecast period.
This hydroiodic acid market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global hydroiodic acid market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hydroiodic acid market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the HI acid market encompasses successful business strategies deployed by the key vendors. The HI acid market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our report provides extensive information on the value chain analysis for the HI acid market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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68% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the hydroiodic acid market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing demand for the production of disinfectants will facilitate the hydroiodic acid market's growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The COVID-19 pandemic in 2020 negatively impacted the regional market. However, in the first half of 2021, hydroiodic acid manufacturing facilities in APAC resumed their operations with proper social distancing and sanitization norms due to the initiation of vaccination drives in the region. These factors are expected to boost the growth of the regional market during the forecast period.
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The hydroiodic acid market share growth in the pharmaceutical grade segment will be significant during the forecast period. Chemicals that are introduced into a chemical combination to cause it to react and transform into another substance are known as pharmaceutical intermediates. The factors driving the pharmaceutical grade segment of the market will boost market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the HI acid market size and actionable market insights on the post-COVID-19 impact on each segment.
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Hydroiodic Acid Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.6% |
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Market growth 2022-2026 |
$103.36 million |
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Market structure |
Fragmented |
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YoY growth (%) |
5.2 |
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Regional analysis |
APAC, North America, Europe, the Middle East and Africa, and South America |
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Performing market contribution |
APAC at 68% |
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Key consumer countries |
US, Canada, China, India, Germany, and Italy |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Ajay Europe SARL, Axiom Chemicals Pvt. Ltd., Deepwater Chemicals Inc., GFS Chemicals Inc., GHW International, GODO SHIGEN Co. Ltd., Infinium Pharmachem Pvt. Ltd., Iofina Plc, ITW Reagents, Manus Aktteva Biopharma LLP, Merck KGaA, Muby Chemicals, Naugra Export, Nippoh Chemicals Co. Ltd., Omkar Speciality Chemicals Ltd., Samrat Remedies Ltd., Shandong Boyuan Pharmaceutical Co. Ltd., and Taj Pharmaceutical Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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