Press release
Strong Growth Ahead: Potassium Iodide Market Size To Grow At Arecord 7.7% Cagr By 2029
Potassium Iodide
How Big Is the Potassium Iodide Market Size Expected to Be by 2034?
The potassium iodide market has experienced notable growth in recent years. It will grow from $0.97 billion in 2024 to $1.05 billion in 2025 at a CAGR of 8.0%. This growth is attributed to rising demand for nutritional foods, heightened health concerns, an increase in CT examinations, the expansion of the food and beverage and pharmaceutical industries, and a growing demand for diagnostic imaging treatments in the pharmaceutical sector.
The potassium iodide market is expected to see strong growth, reaching $1.41 billion by 2029 at a CAGR of 7.7%. The growth is driven by the increasing prevalence of thyroid and iodine deficiency disorders, greater awareness of iodine supplementation, concerns about nuclear accidents, and rising demand in food and beverage industries. Major trends include product innovation, advancements in technology, and expansion in the pharmaceutical industry.
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What Are the Emerging Segments Within the Potassium Iodide Market?
The potassium iodide market covered in this report is segmented -
1) By Product Type: Solid, Liquid
2) By Grade: Industrial Grade, Pharmaceutical Grade, Feed Grade
3) By Application: Pharmaceutical Industry, Nutritional Supplements, Industrial Applications, Radiation Protection, Photography And Imaging, Other Applications
Subsegments:
1) By Solid: Potassium Iodide Crystals, Potassium Iodide Powder, Potassium Iodide Tablets
2) By Liquid: Potassium Iodide Solution (Aqueous Solution), Potassium Iodide Syrup
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What Long-Term Drivers Are Shaping Potassium Iodide Market Trends?
The rising demand for nutritional supplements is expected to drive the growth of the potassium iodide market. Nutritional supplements, which contain vital vitamins, minerals, and other substances, support overall health and wellness. The demand for such supplements is growing due to increased awareness of nutrition's role in health, a shift towards preventive healthcare, dietary gaps caused by lifestyle changes, and aging populations looking for health support. Potassium iodide, used to support thyroid health and prevent iodine deficiency disorders, is part of this trend. In October 2022, the Council for Responsible Nutrition revealed that 75% of Americans included dietary supplements in their routine. Thus, the growing interest in nutritional supplements is propelling the potassium iodide market.
Who Are the Top Competitors in Key Potassium Iodide Market Segments?
Major companies operating in the potassium iodide market are Thermo Fisher Scientific Inc., Honeywell International Inc., Merck KGaA, Univar Solutions Inc., Arkema Group, Avantor Inc., Tata Chemicals Ltd., Ise Chemicals Corporation, Samrat Pharmachem Limited, Mitsui Chemicals Inc., GFS Chemicals Inc., Calibre Chemicals Pvt. Ltd., Changshu Yuxi Chemical Co. Ltd, Ajay-SQM, Wego Chemical Group, Proto Chemicals Industries, Adani Pharmachem Private Limited, Pandora Industries Pvt. Ltd., Deepwater Chemicals Inc., Vishal Laboratories, Junsei Chemical Co. Ltd., Dalkem Corporation, Incasa S.A
What Trends Are Expected to Dominate the Potassium Iodide Market in the Next 5 Years?
Companies in the potassium-iodide market are using strategic partnerships to improve product accessibility. An example is the collaboration between the Delaware Emergency Management Agency (DEMA) and the Delaware Division of Public Health (DPH) in April 2023, which distributed potassium iodide tablets to residents living within the Emergency Planning Zone of the Salem or Hope Creek Nuclear Generating Stations. These tablets help protect the thyroid gland from radioactive iodine during nuclear emergencies.
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Which Regions Are Becoming Hubs for Potassium Iodide Market Innovation?
Asia-Pacific was the largest region in the potassium iodide market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the potassium iodide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Potassium Iodide Market?
2. What is the CAGR expected in the Potassium Iodide Market?
3. What Are the Key Innovations Transforming the Potassium Iodide Industry?
4. Which Region Is Leading the Potassium Iodide Market?
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