The Potassium Iodide Market will receive an overwhelming increase in revenue by 2024


Global Potassium Iodide Market is characterized by intense competition owing to the presence of large number of established organizations, collaborators, mergers, acquisitions, and joint ventures, according to Transparency Market Research (TMR) . Major players are gaining global shares through higher production. The leading companies in the market in 2017 were GODO SHIGEN, Merck Millipore, Nippoh Chemicals, Adani Pharmaceuticals, and Iofina.

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The main consumer of potassium iodide will be the pharmaceutical industry

According to the research report, the global potassium iodide market is expected to grow from US$607.9 million in 2015 to US$1.14 billion by the end of 2024. The market is expected to grow at a CAGR by 7.3% during the forecast period of 2016 and 2024. The pharmaceutical industry is expected to acquire a share of 27.9% by the end of 2024, in terms of revenue. The prevention of thyroid related problems with potassium leads to an increased demand for potassium in the pharmaceutical industry.

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In the coming years, Asia-Pacific is poised to dominate the global potassium iodide market. On the regional market, the pharmaceutical and agro-food sectors aim to strengthen themselves. Analysts estimate that by the end of 2025, the potassium iodide market in Asia-Pacific will account for a share of 44.2%.

Extensive use of potassium iodide to guide the global market

Nutritional deficiency has played a major role in increasing the market demand for potassium iodide. The pharmaceutical industry follows the same reason, as manufacturers use potassium to fight thyroid-related problems, arthritis, and coughs. Global consumers shifting towards healthy diets have driven up the demand for potassium iodide in the food industry.

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It is found that nylon stabilizer and thermal dispersant in textile industry use potassium iodide. It is used to make iodine solution which is used to check the desizing property of textile. The growing number of uses for potassium in areas such as X-ray contrast media as well as film photography are expected to benefit the market in the future.

On the other hand, the global potassium iodide market is challenged by the side effect which results in swelling of arms, face, legs, joint pain and throat.

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Researchers have found that excessive consumption of potassium iodide can lead to irregular heartbeats, burning in the mouth, and a metallic taste in the mouth. Other factors hampering the growth of the market are unstable cost of raw materials, availability of substitutes, and government regulations. Potassium iodide can be replaced with potassium iodate to block the thyroid. These factors are expected to hinder the expansion of the global potassium iodide market during the forecast period.

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This opinion is based on the Transparency Market Research report, titled Potassium Iodide Market (End Use – X-Ray Contrast Media, Pharmaceuticals, Nutrition and Film Photography) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024.”

The global potassium iodide market has been segmented as follows:

Potassium Iodide Market – End Use Analysis

  • X-ray contrast medium
  • Pharmaceutical
  • Nutrition
  • Film photography
  • Others

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