Global Hydroiodic Acid (Hydriodic Acid) Market Size By Product (Pharmaceutical Grade, Industrial Grade), By Application (Electronics, Analytical Reagent, Pharmaceuticals), By Geographic Scope And Forecast

Hydroiodic Acid (Hydriodic Acid) Market Size And Forecast

Hydroiodic Acid (Hydriodic Acid) Market size was valued at USD 1.38 Billion in 2024 and is projected to reach USD 2.58 Billion by 2031, growing at a CAGR of 8.11% from 2024 to 2031.

The global hydroiodic acid In the upcoming years, the market is anticipated to experience significant expansion, led by various factors such as increasing demand for iodine and its derivatives, growing applications in the pharmaceutical and chemical industries, and increasing research and development activities. Additionally, the increasing use of hydroiodic acid as a reducing agent in the electronics industry is expected to drive market growth. The Global Hydroiodic Acid (Hydriodic Acid) Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Hydroiodic Acid (Hydriodic Acid) Market Definition

Colorless hydroiodic acid generates dense white vapors in damp air and severely reddens the litmus test. Acid has the chemical formula HI. Iodine and water are combined to create a potent acid known as the. But since every difference inside a physical state is a gas, the aqueous solution makes a difference. It is one of the strongest common salt acids due to the exceptional stability of its corresponding conjugate base. It has a powerful bitter smell and is colorless. Iodine and a reductant are combined to create gas and iodide in order to manufacture them economically.

In addition, the charge scatters due to the halide particle’s enormous size, weakening the H-I bond. As a result, the H+ is simply disconnected, and HI is presented as a more potent acid than HBr, HCl, and HF. HI is the acid formula. Its molar mass is 127.91 g/mol as well. Iodide exists as a frothy substance, whereas acid is a polarised solution of HI. It is well known that hydroiodic acid is a potent and reactive acid. It is used with caution due to its strong reactivity. Metal powders, ammonia, and other things may cause it to react violently and generate bases. It interacts aggressively with bases and is quite corrosive. In addition, heating HI releases nephrotoxic gases that quickly alter the air.

Global Hydroiodic Acid (Hydriodic Acid) Market Overview

Hydroiodic acid, also known as hydriodic acid, is an odorless to slightly yellowish liquid with a strong scent. It is a powerful, very corrosive acid that is employed in a wide range of processes, including the synthesis of medicines, the generation of organic and inorganic iodides, and as a reducing agent in chemical reactions. The global hydroiodic acid In the upcoming years, the global market for hydroiodic acid is anticipated to increase significantly, led by various factors. Increasing demand for iodine and its derivatives, particularly in the pharmaceutical and chemical industries. The growing use of hydroiodic acid as a reducing agent in the electronics industry.

Technological advancements and increasing research and development activities led to the development of new applications and uses for hydroiodic acid. Growing demand from emerging markets, particularly in the Asia Pacific region. Expansion of production capacities and new product launches by key market players. Increasing use of hydroiodic acid in the production of semiconductors and other electronics applications. The highly corrosive and dangerous nature of hydroiodic acid poses risks to human health and safety, which could limit its use in certain applications. Fluctuating prices of iodine, a key raw material used in the production of hydroiodic acid, could affect the market growth and profitability of manufacturers. Stringent regulations and standards pertaining to the handling and storage of hydroiodic acid could limit the market growth.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Hydroiodic Acid (Hydriodic Acid) Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in the Global Hydroiodic Acid (Hydriodic Acid) Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Hydroiodic Acid (Hydriodic Acid) MarketSegmentation Analysis

The Global Hydroiodic Acid (Hydriodic Acid) Market is segmented on the basis of Product, Application, And Geography.

Hydroiodic Acid (Hydriodic Acid) Market, By Product

• Pharmaceutical Grade
• Industrial Grade
• Others

Based on Product, The market is segmented into Pharmaceutical Grade, Industrial Grade, and Others. The pharmaceutical grade segment is one of the largest and fastest-growing segments of the global hydroiodic acid market. Hydroiodic acid is used as a key raw material in the production of various pharmaceuticals and drug intermediates. It is used in the synthesis of several drugs, including antiviral, antibacterial, and antifungal agents.

Moreover, it is employed in the creation of an iodinated contrast medium for use in imaging operations in medicine. The pharmaceutical industry is one of the major end-use industries for hydroiodic acid, and the growing demand for pharmaceuticals and drug intermediates is anticipated to fuel market expansion in the upcoming years. Additionally, the increasing demand for iodine-based products and the rising adoption of hydroiodic acid in the production of semiconductors and other electronics applications are also expected to drive market growth.

Hydroiodic Acid (Hydriodic Acid) Market, By Application

• Electronics
• Analytical Reagent
• Pharmaceuticals
• Others

Based on Application, The market is segmented into Electronics, Analytical Reagent, Pharmaceuticals, and Others. The pharmaceutical industry is one of the major end-use industries for hydroiodic acid and is expected to drive the growth of the global hydroiodic acid market. Hydroiodic acid is widely used in the pharmaceutical industry for the synthesis of various drugs and drug intermediates. It is used as a reagent in the synthesis of antiviral, antibacterial, and antifungal agents, and also in the production of iodinated contrast media used in medical imaging procedures.

The increasing demand for pharmaceuticals, particularly. The pharmaceutical industry’s need for hydroiodic acid is anticipated to be driven by growing economies. The growth of the pharmaceutical industry is also because of the increase in illnesses and issues, rising healthcare expenditure, and growing awareness about healthcare and wellness. Moreover, the increasing adoption of hydroiodic acid in the production of semiconductors and other electronics applications is also anticipated to fuel the market for hydroiodic acid worldwide.

Hydroiodic Acid (Hydriodic Acid) Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

On the basis of Geography, The Global Hydroiodic Acid (Hydriodic Acid) Market is segmented on the basis of geography into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. One anticipates that the Asia Pacific area will have the largest growing segment of the global hydroiodic acid market during the forecast period.

The growth is attributed to factors such as the increasing demand for hydroiodic acid from various end-use industries, such as pharmaceuticals, electronics, and food and beverages, in countries such as China, India, both South Korea and Japan. Also, the area is seeing an increase in the number of manufacturing facilities for hydroiodic acid, which is further driving market growth. Moreover, the increasing investments by major companies in the region to expand their production capacity of hydroiodic acid are expected to drive market growth in the coming years.

Key Players

The “Global Hydroiodic Acid (Hydriodic Acid) Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Iofina plc, Adani Pharmachem Private Limited, Ajay-SQM Group, Niacet Corporation, BASF SE, DynaChem Inc., Esseco Group SRL, James M. Brown Ltd., LANXESS AG, Macco Organiques Inc. are the key market participants.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In October 2021, Iofina plc, a leading producer of iodine and specialty chemical derivatives, announced that it has successfully completed a debt refinancing and raised £12 million to fund the expansion of its production capacity for hydroiodic acid.
• In August 2021, BASF SE announced that it has started the production of high-purity hydroiodic acid at its site in Ludwigshafen, Germany. The company is aiming to serve the growing demand for hydroiodic acid in the pharmaceutical, semiconductor, and fine chemicals industries.
• In July 2021, Niacet Corporation, a leading producer of organic salts and derivatives, announced that it has completed the acquisition of Chemoxy International Ltd., a UK-based manufacturer of specialty chemicals, including hydroiodic acid. The acquisition is expected to strengthen Niacet’s position in the global hydroiodic acid market.
• In May 2021, DynaChem Inc., a leading producer of iodine derivatives, announced that it has expanded its production capacity for hydroiodic acid at its facility in Texas, USA. The expansion is expected to meet the growing demand for hydroiodic acid in the pharmaceutical and fine chemicals industries.
• In January 2021, Adani Pharmachem Private Limited, a leading manufacturer of specialty chemicals, announced that it has started the production of hydroiodic acid at its facility in Gujarat, India. The company is aiming to cater to the growing demand for hydroiodic acid in the pharmaceutical industry.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.