Potassium Iodide Market Insights, 2016-2024

Potassium Iodide Market - (End Use - X-Ray Contrast Media, Pharmaceutical, Nutrition, and Film Photography) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Potassium Iodide Market: Snapshot

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.

Emerging as one of the most commercially significant iodide compounds, the demand for potassium iodide also stems from the food and textile sectors. Growing health concerns and the rising demand for nutritional foods are factors promoting the use of potassium iodide. A diet that includes this iodine compound as a nutritional supplement is known to help prevent a slew of conditions such as hyperthyroidism, goiter, and cretinism. The US Food and Drug Administration (FDA) recommends the use of potassium iodide as a food additive for human consumption as well as a dietary supplement in animal feed.

The global potassium iodide market was valued at US$607.9 mn in 2015 and is projected to reach US$1.14 bn by 2024, at a strong CAGR of 7.3 % therein.

potassium iodide market

Potassium Iodide used in Pharmaceutical Sector owing to its Ability to Produce High-quality Images

On the basis of end use, the global potassium iodide market has been segmented into pharmaceutical, x-ray contrast media, film photography, nutrition, and others such as the textile and chemical industries. Accounting for the dominant share in the market in 2015, the segment of x-ray contrast media has been driven by the continued use of potassium iodide in the food and beverages and pharmaceutical industries. Potassium iodide is used as an intravascular contrast medium for several imaging applications and techniques such as computed tomography (CT) and radiography. Iodine-based contrast media are used in radiology owing to their relatively harmless interaction with body tissues. Moreover, potassium iodide helps generate better-quality intravenous images for crystograms and pylograms.

However, research analysts predict that this segment will lose market share in the coming years. The overall pharmaceutical sector is anticipated to gain traction as an end user over the course of the forecast period with the rising use of potassium iodide to treat various thyroid-related problems. Although potassium iodide has been used for film photography in the past, this end-use segment will exhibit little to no growth by 2024 owing to the popularity of and preference for digital photography.

APAC to Hold On to its Lead Spot in Global Potassium Iodide Market

By way of geography, the global potassium iodide market has been divided into Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. Asia Pacific accounted for the dominant share in 2015 in terms of demand owing to the rapid growth of the food and beverages and pharmaceutical industries and a consistent rise in population in countries such as India and China. Europe is also a key market for potassium iodide, thanks to advancements in imaging technologies using x-rays and the expansion of the food and pharmaceutical sectors. Apart from this, recent progress made in industrial chemistry will support the potassium iodide market in Europe over the coming years.

The growth of the North America market can be attributed to several preventive measures taken in response to nuclear radiation. The prevalence of iodine deficiency syndrome is a key factor driving the potassium iodide market in the Middle East and Africa, while the Latin America market is fueled by rising demand from the food, pharmaceutical, and health industries.

Prominent vendors in the worldwide potassium iodide market include GODO SHIGEN Co., Ltd., Merck Millipore, Nippoh Chemicals Co., Ltd., Adani Pharmaceuticals, and Iofina Plc.

Rising Demand for Use as Dietary Supplements to Propel Potassium Iodide Market Forward

The global potassium iodide market is estimated to observe considerable growth in the near future, thanks to its growing prominence as medical sector. A drug or medication refers to a substance that is utilized in the treatment, diagnosis, or prevention of illness.  In the field of medicine, drug or pharmacotherapy plays a major role. For proper management and progression in the field of pharmacy, these therapies depend on pharmacology research. Apart from the nutrients already present in the body, there are specific supplements that a human body needs. These external foods are known as dietary supplements for a specific kind of nutrient pills. The additives are available in different forms, such as pills, tablets, capsules, and liquids. The crystalline salt potassium iodide is utilized as a chemical component, medicine, and dietary supplement. For the treatment of hyperthyroidism, emergencies of radiation, and for safeguarding the thyroid gland, potassium iodide is utilized in the form of a medicine. For patients with a low level of iodine in their bodies, potassium iodide is used as a supplement.

Scope of Use in Animal Feed to Widen Prospects for the Market in Near Future

 Potassium iodide is utilized in the developing parts of the world to treat a range of skin problems like sporotrichosis and phycomycosis. Potassium iodide as been in use in the medical sector since 1820 and is found in one of the list of essential medicines of the WHO (World Health Organization). It is considered as the most safe and effective medicine for human beings.

Potassium iodide is available as a generic medicine across all the counters. The salt producers are incorporating this due to the increased demand for potassium iodide. This helps to satisfy consumers' iodine requirements. After potassium iodide has been consumed, there are less side effects observed. Potassium iodide may also be utilized as a dietary supplement in the feed for animals. Because the demand for iodine in all regions is rising and this is why the global potassium iodide market is expected to witness considerable growth.

The global potassium iodide market has been segmented as follows:

End Use Analysis

  • X-Ray Contrast Media
  • Pharmaceutical
  • Nutrition
  • Film Photography
  • Others

Regional Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • Egypt
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Frequently Asked Questions

What is the Potassium Iodide Market Size?

Potassium Iodide Market is expected to reach US$1.14 bn by 2024

What is the CAGR for Potassium Iodide Market?

Potassium Iodide Market is estimated to rise at a CAGR of 7.3 % during forecast period

What are the key factors driving the growth of Potassium Iodide Market?

Rising demand for potassium in food and textile sectors are expected to drive the Potassium Iodide Market during the forecast period

Which region is more attractive for vendors in the Potassium Iodide Market?

Asia Pacific is more attractive for vendors in the Potassium Iodide Market

Who are the key players in the Potassium Iodide Market?

Key players of Potassium Iodide Market are GODO SHIGEN Co., Ltd., Merck Millipore, Nippoh Chemicals Co., Ltd., Adani Pharmaceuticals, and Iofina Plc

    1. Preface
       1.1. Report Scope and Market Segmentation
       1.2. Research Highlights

    2. Assumptions and Research Methodology
       2.1. Assumptions and Acronyms Used
       2.2. Research Methodology

    3. Executive Summary
       3.1. Market Overview
       3.2. Introduction
       3.3. Key Industry Developments
       3.4. Market Indicators
       3.5. Comparison Matrix of Iodide Compounds
       3.6. FDA Approved Potassium Iodide Products (Pharmaceutical Industry)
       3.7. Market Dynamics
       3.8. Drivers and Restraints Snapshot Analysis
       3.9. Drivers
       3.10.Restraints
       3.11.Key Opportunities
       3.12.Global Potassium Iodide Market Analysis and Forecasts
       3.13.Porter’s Analysis
       3.14.Value Chain Analysis

    4. Global Potassium Iodide Market Analysis, by End Use
       4.1. Key Findings
       4.2. Introduction
       4.3. Global Potassium Iodide Market Value Share Analysis, by End-use
       4.4. Global Potassium Iodide Market Forecast, by End-use
       4.5. Global Potassium Iodide Market Attractiveness Analysis, by End-use

    5. Global Potassium Iodide Market Analysis, by Region
       5.1. Global Growth Scenario
       5.2. Global Potassium Iodide Market Value Share Analysis, by Region
       5.3. Global Potassium Iodide Market Forecast, by Region
       5.4. Global Potassium Iodide Market Attractiveness Analysis, by Region
       5.5. Market Trends

    6. North America Potassium Iodide Market Analysis
       6.1. Key Findings
       6.2. North America Potassium Iodide Market Overview
       6.3. North America Potassium Iodide Market Value Share Analysis, by End-use
       6.4. North America Potassium Iodide Market Forecast, by End-use
       6.5. North America Potassium Iodide Market Value Share Analysis, by Country
       6.6. North America Potassium Iodide Market Forecast, by Country
              6.6.1. U.S
              6.6.2. Canada
       6.7. North America Potassium Iodide Market Analysis, by Country
       6.8. North America Potassium Iodide Market Attractiveness Analysis, by End-use
       6.9. Market Trends: North America

    7. Asia Pacific Potassium Iodide Market Analysis
       7.1. Key Findings
       7.2. Asia Pacific Potassium Iodide Market Overview
       7.3. Asia Pacific Potassium Iodide Market Value Share Analysis, by End-use
       7.4. Asia Pacific Potassium Iodide Market Forecast, by End-use
       7.5. Asia Pacific Potassium Iodide Market Value Share Analysis, by Country
       7.6. Asia Pacific Potassium Iodide Market Forecast, by Country    
       7.7. Asia Pacific Potassium Iodide Market Analysis, by Country    
              7.6.1. China
              7.6.2. India
    7.6.3. Japan
              7.6.4. ASEAN
              7.6.5. Rest of Asia Pacific
       7.8. Asia Pacific Potassium Iodide Market Attractiveness Analysis, by End-use
       7.9. Market Trends: Asia Pacific                

    8. Europe Potassium Iodide Market Analysis            
       8.1. Key Findings                        
       8.2. Europe Potassium Iodide Market Overview            
       8.3. Europe Potassium Iodide Market Value Share Analysis, by End-use    
       8.4. Europe Potassium Iodide Market Forecast, by End-use        
       8.5. Europe Potassium Iodide Market Value Share Analysis, by Country    
       8.6. Europe Potassium Iodide Market Forecast, by Country        
       8.7. Europe Potassium Iodide Market Analysis, by Country        
              8.6.1. Germany
              8.6.2. France
              8.6.3. U.K
              8.6.4. Italy 
              8.6.5. Spain
              8.6.6. Rest of Europe
       8.8. Europe Potassium Iodide Market Attractiveness Analysis, by End-use
       8.9. Market Trends: Europe                    

    9. Middle East & Africa (MEA) Potassium Iodide Market Analysis
       9.1. Key Findings
       9.2. Middle East & Africa (MEA) Potassium Iodide Market Overview
       9.3. Middle East & Africa (MEA) Potassium Iodide Market Value Share Analysis by End –use
       9.4. Middle East & Africa (MEA) Potassium Iodide Market Forecast, by End-use
       9.5. Middle East & Africa (MEA) Potassium Iodide Market Value Share Analysis, by Country
       9.6.  Middle East & Africa (MEA) Potassium Iodide Market Forecast, by Country
              9.6.1. GCC        
              9.6.2. South Africa        
              9.6.2. Rest of Middle East & Africa
       9.7.  Middle East & Africa (MEA) Potassium Iodide Market Analysis, by Country
       9.8.  Middle East & Africa (MEA) Potassium Iodide Market Attractiveness Analysis, By End Use
       9.9.  Market Trends : Middle East & Africa (MEA)

    10.  Latin America Potassium Iodide Market Analysis
       10.1. Key Findings
       10.2. Latin America Potassium Iodide Market Overview
       10.3. Latin America Potassium Iodide Market Value Share Analysis by End –use
       10.4. Latin America  Potassium Iodide Market Forecast, by End-use
       10.5. Latin America  Potassium Iodide Market Value Share Analysis, by  Country
       10.6. Latin America  Potassium Iodide Market Forecast, by Country
              10.5.1. Brazil    
              10.5.2. Mexico    
              10.5.3. Rest of Latin America
       10.7. Latin America Potassium Iodide Market Analysis, by Country
       10.8. Latin America Potassium Iodide Market Attractiveness Analysis, by End use
       10.9. Market Trends : Latin America

    11. Competition Matrix 
       11.1.Global Potassium Iodide Market Share Analysis, by Company (2015)
       11.2.Competition Matrix                

    12. Company Profiles                
       12.1. Adani Pharmachem Private Limited            
              12.1.1. Company Description                
              12.1.2. Business Overview                
       12.2.Champa Purie-Chem Industries            
              12.2.1. Company Description                
              12.2.2. Business Overview                
       12.3.Crystran Ltd.                    
              12.3.1. Company Description                
              12.3.2. Business Overview                
       12.4. Deepwater Chemicals
              12.4.1. Company Description
              12.4.2. Business Overview
       12.5. GODO SHIGEN CO., LTD.
              12.5.1. Company Description
              12.5.2.  Business Overview
       12.6. Iofina plc
              12.6.1. Company Description
              12.6.2. Business Overview
              12.6.3. SWOT Analysis
              12.6.4. Strategic Overview
       12.7. LASA Laboratory Pvt.Ltd
              12.7.1. Company Description
              12.7.2. Business Overview
       12.8. Merck Millipore
              12.8.1. Company Description
              12.8.2. Business Overview
       12.9. NIPPOH CHEMICALS  
              12.9.1.  Company Description
              12.9.2. Business Overview 
       12.10. Tianjin Chemical Industry Co., Ltd
              12.10.1. Company Description
              12.10.2. Business Overview

    13. Key Takeaway

    List of Tables

    Table 01: Global Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by End-use, 2015–2024
    Table 02: Global Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by Region, 2015–2024
    Table 03: North America Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by End-use, 2015–2024
    Table 04: North America Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by Country, 2015–2024
    Table 05: Asia Pacific Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by End-use, 2015–2024
    Table 06: Asia Pacific Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by Country, 2015–2024
    Table 07: Europe Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by End-use, 2015–2024
    Table 08: Europe Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by Country, 2015–2024
    Table 09: MEA Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by End-use, 2015–2024
    Table 10: MEA Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by Country/Sub-region, 2015–2024
    Table 11: Latin America Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by End-use, 2015–2024
    Table 12: Latin America Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, by Country/Sub-region, 2015–2024

    LIST OF FIGURES
                    
    Figure 01: Global Potassium Iodide  Market Size (US$ Mn) and Volume (Tons) Forecast, 2015–2024
    Figure 02: Global  Potassium Iodide Average Price based on End Uses (US$/Ton) 2015–2024
    Figure 03: Global Potassium Iodide Market Value Share Analysis, by End-use, 2015 and 2024
    Figure 04: Global Potassium Iodide Market Size (US$ Mn) and Volume (Tons), by X-ray Contrast Media, 2015–2024
    Figure 05: Global Potassium Iodide Market Size (US$ Mn) and Volume (Tons), by Pharmaceutical, 2015–2024
    Figure 06: Global Potassium Iodide Market Size (US$ Mn) and Volume (Tons), by Nutrition, 2015–2024
    Figure 07: Global Potassium Iodide Market Size (US$ Mn) and Volume (Tons), by Film Photography, 2015-2024
    Figure 08: Global Potassium Iodide Market Size (US$ Mn) and Volume (Tons), by Others, 2015–2024
    Figure 09: Global Potassium Iodide Market Attractiveness Analysis, by End-use
    Figure 10: Global Potassium Iodide Market Value Share Analysis, by Region, 2015 and 2024
    Figure 11: Global Potassium Iodide Market Attractiveness Analysis, by Region
    Figure 12: North America Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, 2015–2024
    Figure 13: North America Potassium Iodide Market Attractiveness Analysis, by Country
    Figure 14: North America Potassium Iodide Market Value Share Analysis, by End-use, 2015 and 2024
    Figure 15: North America Potassium Iodide Market Value Share Analysis, by Country, 2015 and 2024
    Figure 16: Canada Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 17: The U.S. Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 18: North America Potassium Iodide Market Attractiveness Analysis, by End-use
    Figure 19: Asia Pacific Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, 2015–2024
    Figure 20: Asia Pacific Potassium Iodide Market Attractiveness Analysis, by Country
    Figure 21: Asia Pacific Potassium Iodide Market Value Share Analysis, by End-use, 2015 and 2024
    Figure 22: Asia Pacific Potassium Iodide Market Value Share Analysis, by Country, 2015 and 2024
    Figure 23: China Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 24: India Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 25: Japan Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 26: ASEAN Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 27: Rest of Asia Pacific Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 28: Asia Pacific Potassium Iodide Market Attractiveness Analysis, by End-use
    Figure 29: Europe Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, 2015–2024
    Figure 30: Europe Potassium Iodide Market Attractiveness Analysis, by Country
    Figure 31: Europe Potassium Iodide Market Value Share Analysis, by End-use, 2015 and 2024
    Figure 32: Europe Potassium Iodide Market Value Share Analysis, by Country, 2015 and 2024
    Figure 33: U.K. Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 34: Italy Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 35: Spain Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 36: France Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 37: Germany Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 38: Rest of Europe Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 39: Europe Potassium Iodide Market Attractiveness Analysis, by End-use
    Figure 40: MEA Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, 2015–2024
    Figure 41: MEA Potassium Iodide Market Attractiveness Analysis, by Country
    Figure 42: MEA Potassium Iodide Market Value Share Analysis, by End-use, 2015 and 2024
    Figure 43: MEA Potassium Iodide Market Value Share Analysis, by Country/Sub-region, 2015 and 2024
    Figure 44: GCC Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 45: South Africa Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 46: Rest of Middle East & Africa Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 47: Middle East & Africa Potassium Iodide Market Attractiveness Analysis, by End-use
    Figure 48: Latin America Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Forecast, 2015–2024
    Figure 49: Latin America Potassium Iodide Market Attractiveness Analysis, by Country/Sub-region
    Figure 50: Latin America Potassium Iodide Market Value Share Analysis, by End-use, 2015 and 2024
    Figure 51: Latin America Potassium Iodide Market Value Share Analysis, by Country/Sub-region, 2015 and 2024
    Figure 52: Brazil Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 53: Rest of Latin America Potassium Iodide Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 54: Latin America Potassium Iodide Market Attractiveness Analysis, by End-use
    Figure 55: Global Potassium Iodide Market Share Analysis, by Company (2015)

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