The global Potassium Iodide industry generated $0.8 billion in 2020, and is anticipated to generate $1.5 billion by 2030, witnessing a CAGR of 6.1% from 2021 to 2030.
Prime determinants of growth
Surge in adoption in the pharmaceutical sector and the polymer sector drives the growth of the global potassium iodide market. However, health related side effects hinder the market growth. On the other hand, rise in demand for solid potassium iodide presents new opportunities in the coming years.
Download Free PDF Sample Report (Including COVID-19 effect Analysis) @ https://www.alliedmarketresearch.com/request-sample/15230
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic led to the global lockdown, which resulted to temporary closure of manufacturing facilities in various economies. This, in turn, negatively affected the growth of the global potassium iodide market.
- Potassium iodide is used as polymer additives as it helps to stabilize heat and light in engineered polyimide. In addition, it is also used as blending component with copper iodide during processing of polymers. Thus, decline in demand for potassium iodide from the polymer industry has negatively affected the market.
- Nevertheless, the market is going to recover once the lockdown is completely over.
The solid segment to maintain its leadership status throughout the forecast period
Based on product type, the solid segment held the highest market share in 2020, accounting for nearly three-fifths of the global potassium iodide market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 6.2% from 2021 to 2030. Proper iodine content is necessary for proper functioning of thyroid glands and solid potassium iodide is used to promote health condition. Thus, use of solid potassium iodide in promoting proper thyroid functioning is the key market trend. The research also analyzes the liquid segment.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.alliedmarketresearch.com/request-for-customization/15230
The pharmaceuticals segment to maintain its lead position during the forecast period
Based on application, the pharmaceuticalssegment accounted for the largest share in 2020, contributing to more than two-fifths of the global potassium iodide market, and is projected to maintain its lead position during the forecast period. This is attributed to its usage as a protective agent during accidental radioactive exposure. However, the nutraceuticals segment is expected to portray the largest CAGR of 6.5% from 2021 to 2030, owing to its usage as a nutritional supplement in animal feed and human diet.
Asia-Pacific, followed by North America, to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global potassium iodide market. Moreover, the same region is expected to witness the fastest CAGR of 6.9% from 2021 to 2030. Potassium iodide along with blend of copper based heat stabilizers are used for long term protection of polymers. Coupled with the global demand and domestic demand for polymers such as polyethylene, polypropylene, and others, there has been increased production and sales of polymer products in Asia-Pacific. This factor is anticipated to augment the growth of the global market. Other regions discussed in the report include Europe, North America, and LAMEA.
Leading Market Players: –
- American Elements
- Thermo Fisher Scientific Inc.
- Samrat Pharmachem Limited
- Adani Pharmachem Private Limited
- Deepwater Chemical Inc.
- Nippoh Chemicals Co. Ltd.
- Godo Shigen Co. Ltd.
- Lasa Supergenerics Co. Ltd.
- IodiTech
- Zibo Wankang Pharmaceutical Chemical Co. Ltd.
Interested in Procuring This Report? Visit Here:
https://www.alliedmarketresearch.com/potassium-iodide-market/purchase-options
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter