Core Viewpoint - The announcement by Boyuan Co. highlights the significance of iodine and its derivatives as essential raw materials across various sectors, including healthcare, agriculture, and industry, with a focus on their applications in key products [1] Industry Overview - Iodine is widely used in various formulations as a key component or catalyst, with applications in X-ray contrast agents, disinfectants, pharmaceutical intermediates, LCD and LED screen polarizers, chemicals, organic compounds, and pigments [1] - Iodine is added to table salt in the form of potassium iodate or potassium iodide to prevent iodine deficiency [1] Market Structure - According to SQM's 2024 report, the downstream application structure of iodine is dominated by three core sectors: X-ray contrast agents, pharmaceutical manufacturing, and liquid crystal panel manufacturing, which together account for approximately 63% of global consumption [1] - The global iodine industry exhibits a distinct regional distribution, with major production concentrated in Chile, Japan, and the United States, which collectively account for 88% of global sales [1] - Five companies in Chile account for about 60% of global iodine sales, with SQM alone representing approximately 37% of this total; eight Japanese producers contribute around 23%, while U.S. producers account for nearly 5% [1] - Additional production exists in Russia, Turkmenistan, Azerbaijan, Indonesia, and China, albeit in smaller quantities [1]