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.
Top Companies Operating in the Global Potassium Iodide Market:
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.
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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.
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Potassium Iodide Market Segmentation
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
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Potassium Iodide market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Potassium Iodide market.
The global Potassium Iodide market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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