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 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.