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Market Size – USD 756.2 Million in 2018, Market Growth - CAGR of 6.8%, Market Trends – Growing demand for treatment of various skin conditions
NEW YORK CITY, NEW YORK, UNITED STATES, July 29, 2022 /EINPresswire.com/ -- 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.
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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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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)
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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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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Key Questions Addressed in the Report:
What are the dominating factors that are influencing the growth of the industry? In the forecast period, which market segment is expected to rise the most? What are the risks and challenges that the industry is facing? In the coming years, which area is projected to dominate the market? Who are the major players in the market? What kind of strategic business plans have they made?
About Us: Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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