Potassium Iodide Market Trends, Key Players, DROT, Analysis & Forecast Till 2027
The global potassium iodide market is expected to reach USD 1.38 Billion by 2027, according to a new report by Reports and Data. The growth of the industry is attributed to the growing application of potassium iodide amongst end-user industries.
Potassium iodide finds usage in combination with anti-thyroid medicines to make arrangements for surgical removal of the thyroid gland and treat specific conditions of hyperthyroidism, among others. In cases of exposure to radiation, potassium iodide prevents the thyroid from absorbing radioactive iodine, thereby protecting it from damage and decreasing the risk of occurrence of thyroid cancer.
Potassium iodide is applied as a mucoactive agent for people suffering from chronic breathing disorders, such as bronchitis, asthma, and emphysema. It function by loosening the mucus that accumulates in the lungs so that it can then pass through the windpipe and eliminated from the human body.
Potassium iodide finds widespread application as an intravascular contrast medium for medical imaging applications. It is deployed in the X-ray-based imaging procedures, including radiography and computed tomography, for improving the visibility of internal structures.
Additionally, a potassium iodide saturated solution is an essential drug in the therapeutic process by a dermatologist and is beneficial for the treatment of various conditions owing to its immunomodulatory properties.
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Further key findings from the report suggest
- By application, adsorbent & absorbent held a substantial market share in 2018. Potassium iodide is used as an absorbent for glandular swellings or hyperplastic fibrous tissues and protection of the thyroid gland in a radioactive emergency, among others.
- By distribution channel, the online distribution channel is projected to grow at a faster rate of 9.4% in the forecast period, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
- By industry vertical, the personal care industry is expected to witness the highest growth rate of 7.3% in the forecast period.
- The market in the Asia Pacific region contributed to the largest market share in 2018 and is expected to witness a growth rate of 7.5% in the forecast period. The market dominance of the APAC region may be attributed to the swift growth of the pharmaceutical and food & beverage industries and a constant rise in population in emerging economies like China and India.
- Key participants include Merck Millipore, Adani Pharmaceuticals, Nippoh Chemicals Company Limited, Iofina PLC, GODO SHIGEN Company Limited, Hanwei Chemical, JIODINE Chemical, Boyuan Pharmaceutical, William Blythe, and Lingang Chemical, among others.
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For the purpose of this report, Reports and Data have segmented the global potassium iodide market on the basis of application, distribution channel, industry vertical, and region:
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Adsorbent & Absorbent
- Corrosion Inhibitors & Anti-Scaling Agents
- Intermediates
- Finishing Agents
- Plasticizers
- Surface Treating Agents
- Others
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Online
- Offline
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Pharmaceutical
- Electrical & Electronics
- Chemical
- Personal Care
- Water Treatment
- Others
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Comprehensive Overview of the Report:
- In-depth analysis of the upstream raw materials, downstream buyers, key vendors and manufacturers, and raw material sourcing
- R&D activities, product advancements, and strategic alliances adopted by key companies
- Analysis of challenges, drivers, constraints, opportunities, risks, and future prospects of the Potassium Iodide industry
- SWOT analysis of each market player to provide an in-depth understanding of the competitive landscape
- Historical analysis and a comprehensive forecast analysis is offered in the report
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