Global Potassium Iodide Market was valued US$ X.XX Bn. in 2019 and is estimated to grow at CAGR of 7.3 %, to reach US$ 1.38 Bn. during the forecast period from 2020 to 2027.
Global Potassium Iodide Market
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The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and the same is reflected in our analysis.
Global Potassium Iodide Market Definition:
Potassium Iodide (KI) is a non-reactive chemical compound, salt of stable widely used as dietary supplement, Thyroid protection & medication. The World Health Organization's mention Potassium Iodide as safest & Essential Medicines, and important source of iodine, lack of which can cause severe health problems such as cretinism and goiter.
In terms of volume, China held the leading share, approximately 40-45% of market share in the year 2019. The report has covered the country wise market share as well as key players market share in the global market and market by region.
The report covers worldwide Potassium Iodide Market size in value and volume with market dynamics by region. All the segments and their detailed evaluation of the trends and factors affecting the market analyzed in the report. Market affecting factors cover drivers, restraints, opportunities, and challenges, consolidation, investment in the industry with focus on key market players by region.
The growth is due to the pervasive characteristic of Potassium iodide and is vigorously use in the pharmaceutical industry, food industry, photographic film industries, x-ray contrast media and textile industry for X-rays, CT scans and helping doctors to effectively diagnose patients. Further, potassium iodide is also being used as a medication since 1820, and is considered as the most effective & safe medication to treat hyperthyroidism, radiation emergencies and helps protect the thyroid gland. The FDA recommended Potassium iodide as a dietary supplement for patients with low iodine content in the body and in the animal as feed. Rising demand for nutritional foods and growing health concerns and are the major factors promoting the use of potassium iodide.
However, chronic overconsumption of potassium iodide may cause contraindication such as Jod-Basedow phenomena, hypothyroidism & hyperthyroidism condition.
Global Potassium Iodide Market Medical Treatment:
The most common cause due to lack of potassium iodide is goiter globally, the Total Goiter Prevalence (TGP) as studied from Wickham in the U.K the overall population is estimated to be 16%, with 4.7% in America and 28.3% in Africa. The occurrence of goiter in children is between aged 6 to 12 years in the world. As studied goiter affects nearly 200 Mn. to 800 Mn. people annually caused 90% due to iodine deficiency. Potassium iodide is also used to treat pulmonary infection as an expectorant syrup at a concentration of 2.0% (20mg/mL). For goiter treatment radioactive iodine is used most effectively, sometimes thyroid supplements or KI solution, Lugol's iodine is also given.
Global Potassium Iodide Market: Market Segmentation
The report covers competitive analysis of the Potassium Iodide Market in each of the geographical segments thereby providing insight into a market share of the countries.
Based on the Application, X-ray contrast media segment is estimated as a dominant market and is projected to reach US$ X.5 Bn at a CAGR of XX% during the forecast period. The growth is attributed due to the increasing number of CT examinations together with advancements in CT imaging technologies extending the market growth over the forecasted period. Moreover, the widespread application of Potassium iodide in pharmaceutical & food and beverages industries as an intravascular contrast medium to improve the quality of images enhances the visibility of vascular structures. Also, Iodine-based contrast media is the type of intravenous radiocontrast agent widely used in venography, angiography, fluoroscopy and plain radiography.
Based on Industrial Grade, the pharmaceutical industry is estimated to dominate the largest market in 2019 and forecasted to grow at a CAGR of 7.0% in the upcoming forecast period. 42.2% of the overall market is occupied by the pharmaceutical sector. Further, the widerspread application of potassium iodide in the treatment of thyroid-related problems such as hypothyroidism, hyperthyroidism, and thyroid blockade & thyroid storm is driving the market and is also utilized in film photography and fluorescence quenching industrially.
Global Potassium Iodide Market 1
Global Potassium Iodide Market: Geographical Analysis
APAC is was the dominant market with a market share of XX % in 2019 and is anticipated to reach US$ XX.X Bn by 2027, growing at a CAGR of 7.5 %. The dominance is mainly due to healthy growth of the food & beverages and pharmaceutical industries with the continuous rise in population especially in emerging countries like India and China. In 2019 market size was valued at US$ XX Bn while in China, the market size was valued XX Bn and expected to increase by US$ X.30 Bn in coming years. Dominated by pharmaceutical industries with the major market of 42.2% growing at CAGR of 7.0% during the forecast and offline distribution channels growing at CAGR of 5.9%. Furthermore, the recent COVID-19 pandemic outbreak will negatively hinder market growth in the Asia Pacific region.
Europe is projected as the second-largest market in 2019 and anticipated to grow at a CAGR of 6.3% due to rising popularity towards technology advancement as imaging significant in X-rays and growth in the Food & Beverages market over the next seven years. North America is forecasted to grow at CAGR of 6.6% owing to innovative development.
Competitive Analysis: Global Potassium Iodide Market:
The report of Global Potassium Iodide Market analysis includes information of detailed analysis leading manufacturer’s, prominent vendors and upcoming trends & challenges that will influence market growth. Further, the adoption of variant strategic business activities such as acquisitions, mergers, collaboration, etc. are estimated to create productive opportunities for the global market over the forecast period.
As per report, some major prominent players in Potassium Iodide Market are GODO SHIGEN, Nippoh Chemicals, Deepwater Chemicals
The objective of the report is to present a comprehensive analysis of the Global Potassium Iodide Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
Some of the Key Recent Trends Developments& Acquisition:
• Iofina plc Company established itself as a material producer of iodine by recycling iodide from chemical water, co-production of iodine from third party Brine like Oklahoma, and Wyoming, producing specialized derivative.
The report also helps in understanding Global Potassium Iodide Market dynamics, structure by analyzing the market segments and projects the Global Potassium Iodide Market size. Clear representation of competitive analysis of key players By Pathogen Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Potassium Iodide Market make the report investor’s guide
Scope of the Global Potassium Iodide Market: Inquire before buying
Global Potassium Iodide Market, By Type
• Industrial Grade
• Non-industrial Grade
Global Potassium Iodide Market, By Application
• X-Ray Contrast Media
• Film Photography
Global Potassium Iodide Market, By Region
• North America
• Asia Pacific
• The Middle East and Africa
• Latin America
Global Potassium Iodide Market, key Players
• GODO SHIGEN
• Nippoh Chemicals
• Deepwater Chemicals
• Qingdao Huaerwei Chemical
• Zibo Wankang Pharmaceutical Chemical
• Taixing Youlian Fine Chemical
• Qingdao Gimhae Iodide Chemical
• Nanjing Taiye Chemical Industry
• Adani Pharmaceuticals
• LASA Laboratory Pvt.Ltd
• Champa Purie-Chem Industries
• Tianjin Chemical Industry Co., Ltd
• Youlian Fine Chemical
• Taiye Chemical
• JIODINE Chemical
• Lingang Chemical
• Honghe Pharmacy
• Hanwei Chemical
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