Potassium Iodide Market Research, – 2030
The global potassium iodide market size was valued at $0.8 billion in 2020, and is projected to reach $1.5 billion by 2030, growing at a CAGR of 6.1% from 2021 to 2030. The demand for potassium iodide is significantly driven by an increase in its applications in animal nutrition and in the medical & pharmaceutical sectors. In animal nutrition, potassium iodide is added to feed as a vital source of iodine, supporting healthy thyroid function and overall growth in livestock. Moreover, in the medical field, potassium iodide plays an essential role in protecting the thyroid gland during radiation exposure and is widely used in treating iodine deficiencies that drive the demand for potassium iodide in medications for respiratory conditions.
Introduction
Potassium iodide (KI) is an inorganic compound that consists of potassium (K) and iodine (I) elements. It is a white crystalline salt that is highly soluble in water, and it is commonly used in medicine and various industries. In healthcare, potassium iodide is most notably used to protect the thyroid gland from absorbing radioactive iodine, especially during nuclear emergencies or radiation exposure, by saturating the thyroid and preventing harmful accumulation. It serves as a supplement to treat iodine deficiencies and is often added to table salt as "iodized salt" to promote thyroid health. In addition to its medical uses, potassium iodide is employed in the manufacturing of photographic chemicals, as a nutritional additive in animal feed, and in analytical chemistry as a reagent.
Market Dynamics
In the healthcare sector, potassium iodide is primarily known for its use in preventing thyroid uptake of radioactive iodine, especially during nuclear accidents or radiation exposure. Potassium iodide prevents the absorption of harmful radioactive iodine by saturating the thyroid gland with stable iodine, reducing the risk of thyroid cancer and other related diseases. This critical application has made it a key component in emergency preparedness protocols for nuclear events, driving steady demand from governments, healthcare agencies, and the public, particularly in regions near nuclear power plants. In addition, potassium iodide is used in the pharmaceutical industry as an expectorant in medications for respiratory conditions, helping to loosen and break up mucus. All these factors are expected to drive the demand for potassium iodide during the forecast period.
However, long term consumption of potassium iodide leads to several allergic reactions such as swollen glands, vomiting, nausea, stomach ache, and headache. In addition, other side effects such as fever, rashes, joint pain, wheezing, shortness of breath & heartbeats, and formation of lumps under skin is a considerable factor predicted to hamper the market growth.
The expansion of the veterinary and animal nutrition markets drives the demand for potassium iodide due to its essential role in promoting animal health and improving livestock productivity. Potassium iodide serves as a vital source of iodine, a trace element that is critical for the proper functioning of the thyroid gland in animals. Adequate iodine levels help regulate metabolism, support growth, and ensure reproductive health. In the context of commercial livestock farming, ensuring optimal thyroid function through iodine supplementation is crucial for maximizing feed conversion efficiency, weight gain, and overall animal health. All these factors are anticipated to offer new growth opportunities for the potassium iodide market during the forecast period.
Market Segmentation
The potassium iodide market is segmented into product type, application, and region. By product type, the market is divided into solid and liquid. By application, the market is segregated into pharmaceuticals, nutraceuticals, polymer, food & feed additives, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The Asia-Pacific potassium market accounted for 38.3% of potassium iodide market share in 2020 and is projected to grow at the highest CAGR of 6.9% during the forecast period. Heat stabilizers are utmost important and are widely used during nylon compounding and during processing of nylon fiber. The most used heat stabilizer includes potassium iodide. The polymer industry is experiencing growth owing to the development of innovative solutions. Polymer sector in China is the largest in the world and this factor is anticipated to augment the growth of the global market in the Asia-Pacific region.
Potassium Iodide Market, by Region
The Asia-Pacific potassium market accounted for 38.3% of potassium iodide market share in 2020, and is projected to grow at the highest CAGR of 6.9% during the forecast period. Heat stabilizers are utmost important and are widely used during nylon compounding and during processing of nylon fiber. The most commonly used heat stabilizer includes potassium iodide. Polymer industry is experiencing growth owing to the development of innovative solutions. Polymer sector in China is the largest in the world and this factor is anticipated to augment the growth of the global market in the Asia-Pacific region.
By Region
Asia-Pacific would exhibit highest CAGR of 6.9% during 2021-2030.
Potassium Iodide Market, by Product Type
In 2020, the solid product type was the largest revenue generator, and is anticipated to grow at a CAGR of 6.2% during the forecast period. Solid potassium iodide contains potassium atoms and iodine atoms that are withheld with use of electrostatic force of attraction. The major application of solid potassium iodide includes table salt. It also helps protect thyroid gland from nuclear radiation, which augments the growth of solid potassium iodide market.
By Product Type
Solid product type is the most lucrative segment
Potassium Iodide Market, by Application
In 2020, the pharmaceuticals application was the largest revenue generator, and is anticipated to grow at a CAGR of 6.1% during the forecast period. Iodine is important as it helps to function thyroid properly, other body parts, and metabolic mechanism. In addition, goiter problem occurs due to deficiency of iodine. Hence, use of potassium iodide to prevent goiter is anticipated to escalate the use of potassium iodide in pharmaceutical application.
By Application
Nutraceuticals application is projected as the fastest growing segment
Competitive Analysis
The major players operating in the potassium iodide market include Adani Pharmachem Private Limited, Deepwater Chemical Inc., Lasa Supergenerics Co. Ltd., IodiTech, Thermo Fisher Scientific Inc., Nippoh Chemicals Co. Ltd., American Elements, Zibo Wankang Pharmaceutical Chemical Co. Ltd., Samrat Pharmachem Limited, and Godo Shigen Co. Ltd.
- Adani Pharmachem Private Limited is known for its robust supply chain and production capabilities, allowing it to cater to both pharmaceutical and industrial applications of potassium iodide. The company's focus on quality control and regulatory compliance positions it well in markets requiring high-purity products, such as pharmaceuticals and analytical chemistry.
- Deepwater Chemical Inc. focuses on the North American market, emphasizing customer service and flexibility in product customization. Their strategic partnerships and strong distribution networks enhance their competitiveness, particularly in sectors such as food fortification and veterinary nutrition, where specialized formulations are in demand.
- Lasa Supergenerics Co. Ltd. leverages its extensive experience in the pharmaceutical sector to produce potassium iodide primarily for medicinal use. Their commitment to R&D allows them to innovate new formulations, catering to specific therapeutic needs and expanding their market share in healthcare.
- IodiTech is dedicated to iodine-related products, emphasizing sustainable sourcing and environmentally friendly production methods. Their focus on sustainability appeals to a growing segment of environmentally conscious consumers and industries, particularly in pharmaceuticals and food applications.
Key benefits for stakeholders
- The report outlines the current market trends and future estimations of global potassium iodide market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- The Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Potassium Iodide Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Application |
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 By Region |
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 Key Market Players | American Elements, Thermo Fisher Scientific Inc., Lasa Supergenerics Co. Ltd., Adani Pharmachem Private Limited, Godo Shigen Co. Ltd., IodiTech, Zibo Wankang Pharmaceutical Chemical Co. Ltd., Nippoh Chemicals Co. Ltd., Deepwater Chemical Inc., Samrat Pharmachem Limited |
Analyst Review
The global potassium iodide market is expected to exhibit high growth potential owing to use of potassium iodide as a nutritional supplement in animal feed and human diet. In addition, it can also be used before and after administration of medicine comprising radioactive iodine. Accident in nuclear power plants will release radioactive iodine and long exposure leads to several health disorders. Thus, potassium iodide can be used to block or suppress the concentration of radioactive iodine. Potassium iodide is used as food & feed additive to overcome iodine deficiency. In addition, use of potassium iodide as food additive is approved by FDA and it can be used as a nutrient in table salt.
Use of potassium iodide to treat fungal granulomatous disease and infections associated with zygomycetes is the key market trend. In addition, high dosage of potassium iodide can be used to treat acute thyrotoxicosis. Synthesis inhibitors are alternative over potassium iodide to treat thyrostatic effect. Potassium iodide can be employed in complex inorganic oxide pigments such as bismuth vanadate pigments and inducing polarizing functionality of polymer films that are used in touch screens. All these factors collectively drive the growth of the global market and is thereby predicted to offer new opportunities during the forecast period.
Increase in adoption of potassium iodide in pharmaceutical sector and polymer industry are the key factors boosting the Potassium Iodide market growth.
The global potassium iodide market was valued at $0.8 billion in 2020, and is projected to reach $1.5 billion by 2030, growing at a CAGR of 6.1% from 2021 to 2030.
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, and Dow Inc. are the most established players of the global Potassium Iodide market.
Pharmaceutical industry is projected to increase the demand for Potassium Iodide.
The potassium iodide market is segmented on the basis of product type, application, and region. By product type, the market is segregated into solid and liquid. By application, the global potassium iodide market is classified into pharmaceuticals, nutraceuticals, polymer, food & feed additives, and others. Region-wise, the potassium iodide market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Potassium iodide in form of liquid is used as an expectorant. Pulmonary disease leads to accumulation of mucus in the lungs. Liquid potassium iodide is utilized to loosen the mucus accumulated in the lungs and helps to treat pulmonary diseases. SSKI, Pima Syrup, and ThyroShield are some examples of syrups that contain liquid potassium iodide content used to enhance the lung secretion. In addition, saturated solution of potassium iodide is used in dermatology sector and to treat several diseases owing to its immunomodulatory characteristic.
Nutraceuticals and food & feed additive applications are expected to drive the adoption of Potassium Iodide market.
The potassium iodide market has been moderately impacted due to the wake of COVID-19 pandemic owing to its dependence on polymer, food additive, and feed additive end users.
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