Yttrium Iodide Market
The market for Yttrium Iodide was estimated at $388 million in 2024; it is anticipated to increase to $623 million by 2030, with projections indicating growth to around $924 million by 2035.
Report Summary
Market Data
Methodology
Table of Contents
Global Yttrium Iodide Market Outlook
Revenue, 2024
$388M
Forecast, 2034
$854M
CAGR, 2025 - 2034
8.2%
The Yttrium Iodide industry revenue is expected to be around $420.2 million in 2025 and expected to showcase growth with 8.2% CAGR between 2025 and 2034. It plays a role in cutting edge technological advancements like improving LED screen performance and contributing to scientific research breakthroughs. It also holds promise for applications, in cancer treatment making it an essential part of our lives yet often overlooked.
Yttrium Iodide is a compound known for its vibrant yellow color and valued for its ability to emit light efficiently in various lighting applications.
Market Key Insights
- The Yttrium Iodide market is projected to grow from $388.4 million in 2024 to $854 million in 2034. This represents a CAGR of 8.2%, reflecting rising demand across Luminescent Material Manufacturing, Scintillation Detectors and Solid-State Laser Development.
- The market exhibits an oligopolistic structure with only 6 prominent players, with Sigma-Aldrich and American Elements commanding the largest shares.
- U.S. and China are the top markets within the Yttrium Iodide market and are expected to observe the growth CAGR of 6.0% to 8.6% between 2024 and 2030.
- Emerging markets including Brazil, South Africa and Indonesia are expected to observe highest growth with CAGR ranging between 7.9% to 10.3%.
- Slow adoption of Rise in Use of LED Lights transition within key players in Yttrium Iodide market is creating a revenue window for adjacent and alternate markets like Yttrium Chloride and Yttrium Bromide to improve its use-case penetration in Industrial uses and Scientific Research applications and expected to capture $31 million revenue from existing Yttrium Iodide market.
- The Yttrium Iodide market is set to add $466 million between 2024 and 2034, with manufacturer targeting Scintillator & Photonics Materials Applications projected to gain a larger market share.
- With
exploitation in led manufacturing, and
increasing use in medical imaging, Yttrium Iodide market to expand 120% between 2024 and 2034.
Opportunities in the Yttrium Iodide
The semiconductor sector is also experiencing growth due, to the increasing popularity of consumer electronics and various smart gadgets.
Growth Opportunities in North America and Asia Pacific
The American market for Yttrium Iodide is fiercely competitive because it is home to many leading companies in the industry who compete for market share vigorously due to the regions advanced infrastructure and widespread use of technology in various sectors, like medical imaging and laser technology that offer promising growth prospects.
In the Asia Pacific region of the world market for Yttrium Iodide is seen to be taking off with a growth trend ahead of it! The reason behind this surge is linked to the electronic and automotive sectors that make extensive use of Yttrium Iodide in their production operations. Furthermore an increase in government funding, towards Research & Development activities is set to give a push to expand the market even further. EOF
Market Dynamics and Supply Chain
01
Driver: Exploitation in LED Manufacturing, and Technological Advancement in Nuclear Energy
The growing need for Yttrium Iodide in the LED manufacturing sector is also boosting the industry forward. This component plays a role, in creating white LEDs that are also widely utilized in contemporary lighting and electronic screens thus propelling the expansion of the Yttrium Iodide market. The importance of Yttrium Iodide in the nuclear energy sector has also grown significantly due to advancements that demand more efficient materials, in the industry market.
Yttrium Iodide is also used in the radiopharmaceutical industry for imaging and therapeutic applications. It is also particularly useful for medical isotopes in diagnostic procedures, thus boosting its demand and propelling the market forward.
02
Restraint: Limited Availability
A major challenge, in the Yttrium Iodide market is its availability because Yttrium is a rare earth metal found in limited quantities which complicates and increases the cost of production significantly causing high prices that could impede market expansion.
03
Opportunity: Advanced Medical Diagnostics and Growth in Lighting Industry
The medical diagnostics sector is showing growing interest in Yttrium Iodide because of its ability to emit scintillation light, which proves highly advantageous in cutting edge medical imaging techniques like CT scans and PET scans. This innovative technology is still at a nascent stage presenting a market opportunity for Yttrium Iodide, within the realm of medical diagnostics.
Yttrium Iodides characteristics make it a sought after element in the lighting sector for creating high intensity discharge lamps which offers manufacturers an avenue for growth opportunities in response to the increasing need, for energy efficient and long lasting lighting options.
04
Challenge: Stringent Regulatory Standards
Stringent regulatory standards regarding the extraction and utilization of Yttrium Iodide pose a challenge in the industry due to their impact on operational costs and potential barriers for new market players looking to enter the market or expand their operations due, to environmental and safety concerns.
Supply Chain Landscape
1
Raw Material Extraction
Rio TintoBHP Group
2
Yttrium Processing & Purification
Shin-Etsu ChemicalLynas Corporation
3
Production
Albemarle CorporationSichuan Y&J Industries
4
End Uses in Various Industries
OsramPhilips Lighting
1
Raw Material Extraction
Rio TintoBHP Group
2
Yttrium Processing & Purification
Shin-Etsu ChemicalLynas Corporation
3
Production
Albemarle CorporationSichuan Y&J Industries
4
End Uses in Various Industries
OsramPhilips Lighting
Use Cases of Yttrium Iodide in Luminescent Material Manufacturing & Scintillation Detectors
Luminescent Material Manufacturing : The utilization of Yttrium Iodide is extensive in creating phosphors. Materials that emit light upon radiation exposure due to their properties being harnessed effectively for this purpose in various applications like low light displays owing to its high stability and efficiency under minimal radiation conditions which are crucial factors to consider for optimal performance in such lighting scenarios; a prominent player dominating the global market scenario in this sector is Osram thanks to its adept utilization of Yttrium Iodides characteristics, for developing cutting edge lighting and display materials.
Solid-State Laser Development : Yttrium Iodide plays a role in the development of solid state lasers due to its ability to deliver impressive laser power and reliable performance enhancements that are essential, for industrial settings demanding high energy output and accuracy levels. Yttrium Iodide is incorporated by IPG Photonics. A prominent industry player. In their laser manufacturing process to harness these benefits.
Scintillation Detectors : A popular choice for scintillation detectors is Yttrium Iodide because of its light output and excellent energy resolution capabilities that cater well to the needs of complex security and medical uses in the industry. Scintacor stands out as a player in the market, for incorporating Yttrium Iodide into their advanced detection systems.
Recent Developments
Recent trends in the market for Yttrium Iodide indicate an outlook for this important chemical compound across different industries. Its wide range of uses in the lighting sector lasers and the production of phosphor materials has contributed to increased demand. One notable trend is the growing adoption of Yttrium Iodide in LED lighting technology for its effectiveness, in adjusting colors.
December 2024 : ChemTech Industries introduced a compound based on yttrium iodide for use, in cutting edge electronics applications. This move signifies an expansion of their range of products.
October 2024 : The top manufacturer Yttrium International managed to cut down the production expenses of yttrium iodide by 15% thereby improving its competitiveness, in the market.
August 2024 : Quantum Materials Corp has launched a research endeavor to investigate the capabilities of yttrium iodide, in the field of quantum computing.
Impact of Industry Transitions on the Yttrium Iodide Market
As a core segment of the Specialty Chemicals industry,
the Yttrium Iodide market develops in line with broader industry shifts.
Over recent years, transitions such as Rise in Use of LED Lights and Surge in Medical Industry Applications have redefined priorities
across the Specialty Chemicals sector,
influencing how the Yttrium Iodide market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Rise in Use of LED Lights
The Yttrium Iodide market sees an impact from the increasing adoption of LED lights as a crucial component in the phosphors that produce colored light in LEDs plays a vital role in shaping market trends today. The global push towards energy efficiency and environmental awareness has contributed to the rise of LED lighting. Subsequently surged the demand for Yttrium Iodide. The ongoing growth of the LED industry creates a steady requirement for top notch and dependable components, like Yttrium Iodide.
02
Surge in Medical Industry Applications
The healthcare sectors growing adoption of Yttrium 90 from Yttrium Iodide indicates a shift, in the market.