Global Potassium Iodide Market, By Product Type (Solid, Liquid) Grade (Industrial grade, Pharmaceutical Grade, Feed Grade), Applications (Pharmaceutical Industry, Nutritional Supplements, Industrial Applications, Radiation Protection, Photography and Imaging, Others) - Industry Trends and Forecast to 2031.
Potassium Iodide Market Analysis and Size
The essential factors contributing to the growth of the global potassium iodide market in the forecast period include increasing demand from the food and beverage industry, growth in industrial applications, technological advancements improving production efficiency, consumer preference for clean label and natural ingredients, and rising health consciousness is leading to the adoption of healthier food options, hence driving the market growth.
Data Bridge Market Research analyses that the global potassium iodide market which was USD 1.07 billion in 2023, is expected to reach USD 1.93 billion by 2031, growing at a CAGR of 7.6% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volume in Units, Pricing in USD
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Segments Covered
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Product Type (Solid, Liquid) Grade (Industrial grade, Pharmaceutical Grade, Feed Grade), Applications (Pharmaceutical Industry, Nutritional Supplements, Industrial Applications, Radiation Protection, Photography and Imaging, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Iofina (U.K.), Adani Group (India), Salvi Chemical Industries Ltd. (India), Tokyo Chemical Industry (India), Deep Water Chemicals (U.S.), American Elements (U.S.), Nippoh Chemicals Co. Ltd. (Japan), Thermo Fisher Scientific Inc.(U.S.), IodiTech (Canada), Lasa Supergenerics Ltd. (India)
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Market Opportunities
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Market Definition
Potassium iodides represented by the chemical formula KI, is a crucial compound extensively utilized across numerous industries and applications worldwide. This white crystalline salt, composed of potassium and iodine ions, plays a fundamental role in pharmaceuticals, nutritional supplements, industrial processes, and radiation protection measures.
Potassium Iodide Market Dynamics
Drivers
- Expansion of Pharmaceutical Industry
The endless expansion of the pharmaceutical sector, fuelled by factors such as population growth, aging demographics, and increased healthcare expenditure, generates a robust demand for medications containing potassium iodide. Pharmacological companies are actively developing new interpretations and treatments to address thyroid disorders and radiation emergencies, thereby driving the expansion of the potassium iodide market. This includes the introduction of innovative dosage forms, mishmash therapies, and targeted treatments to meet the evolving medical needs of consumers.
- Emergency Preparedness
Potassium iodide is used as a thyroid-blocking agent in nuclear emergencies to prevent the absorption of radioactive iodine by the thyroid gland. Increasing concerns about nuclear accidents or terrorist threats may drive demand for potassium iodide for emergency preparedness purposes.
Opportunities
- Increasing Demand for Nutritional Supplements
As awareness surrounding iodine deficiency disorders (IDDs) increases and the importance of iodine supplementation is recognized, there arises an opportunity for companies to diversify their offerings of potassium iodide-based nutritional supplements. This entails the development of new formulations catering to specific demographics such as pregnant women and infants, as well as the exploration of innovative delivery methods.
- Technological Advancements
The scientific progressions within industrial processes create opportunities for the integration of potassium iodide into new applications. This includes its roles as a catalyst, stabilizer, or reagent across various sectors such as chemical, textile, and photography. Additionally, ongoing research and development initiatives to explore potassium iodide's potential in areas such as healthcare, agriculture, and biotechnology open doors for innovation and market expansion. By dedicating resources to research and development, companies can unearth innovative bids for potassium iodide, thus augmentation their product offerings to meet changing market requirements.
Restraints/Challenges
- Regulatory Compliance and Safety Standards
The potassium iodide manufacturers encounter difficulties in meeting strict regulatory standards and safety requirements. Adhering to regulations concerning product quality, purity, and labeling can elevate production expenses and impede market entry.
- Environmental Concerns
Environmental considerations linked to iodine manufacture and waste management pose hurdles for potassium iodide manufacturers. Implementing measures to alleviate environmental effects, such as wastewater treatment and waste handling practices, may escalate operational expenses and regulatory compliance obligations
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In April 2024, The Delaware Emergency Management Agency (DEMA) and Delaware Division of Public Health (DPH) will distribute free potassium iodide (KI) tablets to Delaware residents living within a 10-mile radius (also known as the Emergency Planning Zone or EPZ) of the Salem/Hope Creek Nuclear Generating Stations
Potassium Iodide Market Scope
The market is segmented on the basis of product type, grade and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Solid
- Liquid
Grade
- Industrial Grade
- Pharmaceutical Grade
- Feed Grade
Application
- Pharmaceutical Industry
- Nutritional Supplements
- Industrial Applications
- Radiation Protection
- Photography and Imaging
- Others
Potassium Iodide Market Regional Analysis/Insights
The market is analysed and market size insights and trends are provided by product type, grade and application as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
North America, particularly the U.S. is dominating the global potassium iodide market boasts one of the largest pharmaceutical industries globally, with a robust market for thyroid-related medications and radiation protective agents.
Asia-Pacific region exhibits the highest CAGR in the global potassium iodide market. This growth is attributed to increasing consumer awareness of economic growth, industrial development, and investment in key sectors impact the demand for Potassium Iodide.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Potassium Iodide Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- Iofina (U.K.)
- Adani Group (India)
- Salvi Chemical Industries Ltd. (India)
- Tokyo Chemical Industry (India)
- Deep Water Chemicals (U.S.)
- American Elements (U.S.)
- Nippoh Chemicals Co. Ltd. (Japan)
- Thermo Fisher Scientific Inc.(U.S.)
- IodiTech (Canada)
- Lasa Supergenerics Ltd. (India)
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