The potassium iodate market was valued US$ X.42 Bn in 2019 and is expected to reach X.25 Bn by 2027, at a CAGR of X.12% during a forecast period.
Potassium iodate is famous as an oxidizing agent and catches fire when it comes in contact with a reducing agent. It is widely accepted as an additive in order to increase iodine levels in human body. It has chemical formula 〖KIO〗_3. The chemical is white in color, odourless and insoluble in water and have demand in table salt manufacturing industries.
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Market Drivers and Restraints:
Escalating growth recorded by agricultural industries and stable form of iodine is widely utilised as a primary choice in order to prevent animal disease and iodine deficiency growth of the targeted industries are recoding unstoppable growth and is expected to drive potassium iodate market demand in near future. Increasing demand for the targeted materials for several chemicals depends on its different uses in industries, for instance, water treatment, food preservation, agriculture, medical, industrial owing to its non-flammable and compressed characteristics is playing the major role in market demand, though the above-mentioned industries are observing non-stop growth in the base year and will drive the product growth. Intensifying growth in the pharmaceutical and its suitable properties heightening the product demand in the manufacturing of antiseptics, disinfectants, and deodorants. Hence, owing to its extensive choice of applications, potassium iodate is broadly used in numerous end-user industries.
Furthermore, the major side effect related to the incorporation of the product expected to hamper the potassium iodate market by 2027. Cost of the synthesis is another factor to drop the market demand in the coming years.
Potassium Iodate Market Segment analysis:
By the application segment, the agriculture subdivision is anticipated to dominate the market growth during the forecast period. The high demand for the product in agriculture is the result of bending interest of the manufacturer to manufacture food preservative product in order to increase the self of life of product and protection against microbial attack is expected to propel the market demand during the forecasted period.
Additionally, potassium iodate plays a vital role in strengthening and oxidizing agents for food ingredient almost immediately after mixing. For instance, it speeds up the responses that permit the dough to rise in the course of baking, hence considered as a major driving factor for the market since long.
Potassium Iodate Market Regional Analysis:
Regionally, North America is expected to dominate the potassium iodate market and is expected to grow at a CAGR of XX % during the forecast period. The forthcoming food, pharmaceutical, chemical, and agricultural industry in the region post-2019 economic recession has positively influenced the product demand. Increasing demand for additives in various food product manufacturing which delivers enhanced quality is expected to encourage industry growth.
APAC holds the largest market share for Potassium Iodate in 2019 after North America and is expected to be a growing region during the forecast period. The key reason attributed to the growth are rapid industrialization and thriving pharmaceutical and fire service industry. Developing regions like India, China, and Japan are considered the major contributors for the Potassium Iodate market growth in the Asia Pacific region.
The objective of the report is to present a comprehensive analysis of the Global Potassium Iodate Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Potassium Iodate Market dynamics, structure by analysing the market segments and project the Global Potassium Iodate Market size. Clear representation of competitive analysis of key players by Purity, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Potassium Iodate Market make the report investor’s guide.
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Scope of Potassium Iodate Market
Global Potassium Iodate market, By Type
• Pharmaceutical Grade Potassium Iodate
• Industrial Grade Potassium Iodate
• Feed Grade Potassium Iodate
Global Potassium Iodate market, By Application
• Water Treatment
• Food Preservation
• Fire Service
Global Potassium Iodate Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Potassium Iodate Market,
• Chongqing Changyuan Chemical Corporations Limited
• Tianjin Chemical Industry Co., Ltd Themedica
• Boyuan Pharmaceutical and Chemical
• Jiangxi Shengdian SandT
• Youlian Fine Chemical
• Tocean Iodine Products
• Honghe Pharmacy
• Omkar Chemicals
• Hanwei Chemical
• Micron Laboratories
• Triveni Chemicals
• Adani Pharma
• Jindian Chemical
• Shengdian S&T
• Triveni Chemicals
• Changyuan Chemical
• Adani Pharma
• Chemicals India Company
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Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: MAXIMIZE MARKET RESEARCH PVT. LTD.
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