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Potassium Iodide Market Size Worth USD 1.88 Billion in 2032 | Emergen Research
Potassium Iodide Market
Key Market Drivers
• Rising Demand for Diagnostic Imaging: The market is propelled by the growing demand for iodine-based contrast media used in diagnostic imaging. With an increase in chronic diseases and cancer cases globally, the need for advanced imaging technologies is on the rise, contributing to the market's growth.
• Essential Component in Contrast Media Formulations: Potassium Iodide plays a crucial role in enhancing the visibility of anatomical structures during diagnostic imaging, further driving its demand in the healthcare sector.
• Surge in Orders: Manufacturers are experiencing a surge in orders and sales volumes, indicating a growing market for Potassium Iodide. Recent events, such as emergency alerts, have led to a significant increase in online orders for Potassium Iodide pills.
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Market Restraints
• Health Hazards and Government Regulations: Despite the market's growth, health-related hazards and stringent government regulations pose challenges. Contamination and high exposure to Potassium Iodide can lead to health issues, necessitating stringent quality control measures and potentially increasing production costs.
Market Segment Insights
• Product Type: The market is segmented into solid and liquid Potassium Iodide, with the solid segment dominating due to its extensive use in medical and chemical industries.
• Grade: Industrial-grade Potassium Iodide is expected to witness fast growth due to its diverse applications in various industrial processes, including chemical synthesis and manufacturing.
• Application: X-rays segment leads the market due to the rising adoption of Potassium Iodide in the pharmaceutical sector for diagnostic imaging and shielding against radiation.
• End-Use: Medical segment holds a significant share, driven by the demand for imaging materials and the effectiveness of Potassium Iodide in reducing radiation exposure.
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Future Outlook
With increasing applications across industries and ongoing research and development efforts by manufacturers, the Potassium Iodide market is expected to continue its growth trajectory. However, adherence to stringent quality control measures and addressing health-related concerns remain crucial for sustaining market growth.
Potassium Iodide (KI) Top Companies and Competitive Landscape
The global Potassium Iodide market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective KI products.
• Adani Pharmachem Private Limited
• Deepwater Chemicals, Inc.
• Calibre Chemicals Pvt. Ltd.
• Godo Shigen Co., Ltd.
• Blaustein Chemicals N.V.
• Salvi Chemical Industries Ltd.
• Carlyle Group LP
• Sinopharm Weiqida Pharmaceutical Co., Ltd.
• Iofina Plc
• Nitto Kasei Co., Ltd.
• Nippoh Chemicals Co., Ltd.
• Ioditech
• Tata Sons Private Limited
• FUJI KASEI Co. Ltd.
• BASF SE
• Imsight Technology
Potassium Iodide Latest Industry News
On 20 October 2023, Iofina plc, experts in iodine exploration and production, as well as the manufacturing of specialty chemical products, signed an agreement with a new brine supply partner for the development of its latest IOsorb iodine plant in Western Oklahoma. The Board expresses confidence in the site's suitability for the new plant, which will utilize IOsorb technology to extract iodine from the brine stream abundant in iodine.
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Potassium Iodide Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global Potassium Iodide market on the basis of product type, grade, application, end-use, and region:
• Product Type Outlook (Revenue, USD Billion; 2019-2032)
o Solid
o Liquid
• Grade Outlook (Revenue, USD Billion; 2019-2032)
o Industrial
o Pharma
• Application Outlook (Revenue, USD Billion; 2019-2032)
o X-Rays
o Plastics and Polymer
o Nutraceuticals
o Food and Feed Additives
o Animal Feed
o Others
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Chemical Industry
o Agricultural
o Medical
o Coatings
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa
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