Potassium Iodide Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Potassium iodide is a crystalline salt and finds application mainly in the pharmaceutical industry. Owing to the rapid expansion of the pharmaceutical industry, on the back of a rise in health and wellness awareness programs and increasing population, the demand for several iodine compounds to make different pharmaceutical formulations has grown, thereby propelling the potassium iodide market.
Potassium iodide is a crystalline salt and finds application mainly in the pharmaceutical industry. Owing to the rapid expansion of the pharmaceutical industry, on the back of a rise in health and wellness awareness programs and increasing population, the demand for several iodine compounds to make different pharmaceutical formulations has grown, thereby propelling the potassium iodide market.
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However, research analysts predict that this segment will lose market share in the<br />
coming years. The overall pharmaceutical sector is anticipated to gain traction as<br />
an end user over the course of the forecast period with the rising use of potassium<br />
iodide to treat various thyroid-related problems. Although potassium iodide has<br />
been used for film photography in the past, this end-use segment will exhibit little<br />
to no growth by <strong>2024</strong> owing to the popularity of <strong>and</strong> preference for digital<br />
photography.<br />
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By way of geography, the global potassium iodide market has been divided into Asia<br />
Pacific, Europe, North America, Latin America, <strong>and</strong> the Middle East <strong>and</strong> Africa. Asia<br />
Pacific accounted for the dominant share in 2015 in terms of dem<strong>and</strong> owing to the<br />
rapid growth of the food <strong>and</strong> beverages <strong>and</strong> pharmaceutical industries <strong>and</strong> a<br />
consistent rise in population in countries such as India <strong>and</strong> China. Europe is also a<br />
key market for potassium iodide, thanks to advancements in imaging technologies<br />
using x-rays <strong>and</strong> the expansion of the food <strong>and</strong> pharmaceutical sectors. Apart from<br />
this, recent progress made in industrial chemistry will support the potassium iodide<br />
market in Europe over the coming years.<br />
The growth of the North America market can be attributed to several preventive<br />
measures taken in response to nuclear radiation. The prevalence of iodine<br />
deficiency syndrome is a key factor driving the potassium iodide market in the<br />
Middle East <strong>and</strong> Africa, while the Latin America market is fueled by rising dem<strong>and</strong><br />
from the food, pharmaceutical, <strong>and</strong> health industries.<br />
Prominent vendors in the worldwide potassium iodide market include GODO SHIGEN<br />
Co., Ltd., Merck Millipore, Nippoh Chemicals Co., Ltd., Adani Pharmaceuticals, <strong>and</strong><br />
Iofina Plc.<br />
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