Potassium Iodide Market Size & Growth Analysis to 2030

The global potassium iodide market size was valued at around USD 1 billion in 2022 and is anticipated to grow at a significant compound annual growth rate (CAGR) of around 6% during the forecast period from 2023 to 2030. The demand for potassium iodide in the market is primarily driven by its applications in the pharmaceuticals, radiation emergency medicine, and chemical manufacturing industries. Some of the key factors driving the growth of the potassium iodide market include:

Market Drivers:

• Growing demand for iodine-based contrast media in the medical industry for diagnostic imaging procedures, which require a stable supply of potassium iodide.
• Increasing awareness about the adverse effects of radiation exposure, leading to the stockpiling of potassium iodide by governments and public health agencies for use in emergency situations.
• Rising demand for potassium iodide in the chemical manufacturing industry for the production of various iodine derivatives, such as potassium iodate, sodium iodide, and others.
• Growing demand for potassium iodide supplements in the healthcare industry for the treatment of iodine deficiency disorders.

Overall, the increasing demand for potassium iodide in various end-use industries, coupled with its wide range of applications, is expected to drive the growth of the potassium iodide market in the coming years.

Market Snapshot:

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Market Insights:

By form, the solid form segment dominated the global potassium iodide market in 2022

The global potassium iodide market is bifurcated into form, application, and geography. Potassium Iodide (KI) can be found in both liquid and solid forms. In terms of market analysis, the demand for potassium iodide is higher in the solid form as compared to the liquid form. Solid potassium iodide is more stable and has a longer shelf life than the liquid form. Solid potassium iodide is often used in tablets or capsules and is commonly used as a nutritional supplement or in radiation emergency medicine. The liquid form of potassium iodide is mostly used in the manufacturing of photographic chemicals and dyes.

By application, the pharmaceuticals segment is estimated to hold the largest market share by the end of the analysis period

On the basis of application, the market is segmented into pharmaceuticals, nutraceuticals, polymer, food & feed additive, and others. The pharmaceuticals segment dominated the global potassium iodide market in the benchmark year and expected to grow at the same trend over the forecast period.

Pharmaceuticals: Potassium iodide is used in the manufacturing of various pharmaceutical products such as antiseptics, disinfectants, and drugs for thyroid disorders. The increasing prevalence of thyroid disorders and the growing demand for antiseptics and disinfectants are driving the growth of the pharmaceutical segment.

Nutraceuticals: Potassium iodide is used as a dietary supplement to treat iodine deficiency in the body. The rising awareness about the importance of iodine in the diet and the growing demand for nutraceuticals are driving the growth of this segment.

Polymer: Potassium iodide is used as a chain transfer agent in the manufacturing of polymers. It helps to regulate the molecular weight of the polymer and improve its properties. The increasing demand for polymers in various industries such as automotive, construction, and packaging is driving the growth of this segment.

Food & Feed Additives: Potassium iodide is used as a food additive to fortify salt, bread, and other food products with iodine. It is also used as a feed additive for animals to prevent iodine deficiency. The increasing demand for iodized salt and the growing demand for animal feed are driving the growth of this segment.

Others: The other applications of potassium iodide include its use in photography, chemical synthesis, and as a reagent in analytical chemistry. The growth of this segment is driven by the increasing demand for potassium iodide in these niche applications.

Overall, the growing demand for pharmaceuticals, nutraceuticals, polymers, food and feed additives, and other applications is expected to drive the growth of the potassium iodide market in the coming years.

The potassium iodide market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

• 2020-21 – Historical Year
• 2022 – Base Year
• 2023-2030 – Forecast Period

Market Segmentation:

By Form:

• Solid
• Liquid

By Application:

• Pharmaceuticals
• Nutraceuticals
• Polymer
• Food & Feed Additives
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, the potassium iodide market report comprises dedicated sections centering on the regional market revenue and trends. The potassium iodide market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The potassium iodide market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Potassium iodide market estimates have also been provided for the historical years 2020 & 2021 along with forecasts for the period from 2023 – 2030.

Competitive Assessment:

Some of the prominent market players operating in the global potassium iodide market are American Elements, Thermo Fisher Scientific Inc., Samrat Pharmachem Limited, Adani Pharmachem Private Limited, and Deepwater Chemical Inc. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. For instance:

• In 2020, The US FDA approved a new oral solution of potassium iodide called ThyroShield, which can be used as a thyroid blocking agent in the event of a nuclear radiation emergency.
• In 2019, a team of researchers from Purdue University developed a new method for synthesizing potassium iodide, which uses less energy and produces less waste than traditional methods.
• In 2018, a company called RadBlocker announced the development of a new type of potassium iodide tablet that is coated in a proprietary polymer to make it more resistant to moisture and temperature changes.
• In 2017, a study published in the Journal of Agricultural and Food Chemistry found that potassium iodide can be used as a natural preservative to extend the shelf life of meat products.

Key Companies:

• American Elements
• Thermo Fisher Scientific Inc.
• Samrat Pharmachem Limited
• Adani Pharmachem Private Limited
• Deepwater Chemical Inc.
• Nippoh Chemicals Co. Ltd.
• Godo Shigen Co. Ltd.
• Lasa Supergenerics Co. Ltd.
• IodiTech
• Zibo Wankang Pharmaceutical Chemical Co. Ltd.

Key Questions Answered by Potassium Iodide Market Report

• Global potassium iodide market forecasts from 2023-2030
• Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
• Potassium iodide submarket forecasts from 2023-2030 covering the market by form, application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level potassium iodide markets from 2023-2030
• Competitive Landscape and market positioning of top 10 players operating in the market