Sodium Iodide Industry Size, Share, Demand & Growth by 2034
The global sodium
iodide market will reach a valuation of US$ 173 million in 2024,
attributed to factors such as shift towards renewable energy sources. The trend
is set to create new opportunities for the market, leading to a projected CAGR
of 5.8% between 2024 and 2034, and reaching a total valuation of approximately
US$ 304 million by 2034.
There is a growing demand
for eco friendly alternatives in various industries, with increasing emphasis
on sustainability and environmental responsibility.
Manufacturers exploring
sustainable production methods and eco friendly packaging for sodium iodide products
may gain a competitive edge.
Collaboration between
industry players, research institutions, and academic organizations can
accelerate innovation and drive product development in the sodium iodide
market.
Collaborative research and
development initiatives can lead to the discovery of new applications, improved
formulations, and enhanced product performance.
Sodium iodide is utilized in
certain water treatment processes, particularly for disinfection and
decontamination purposes.
The demand for iodine based
water treatment solutions is all set to rise, driven by both municipal and
industrial sectors, with increasing concerns about water quality and safety.
There is a growing focus on
ensuring optimal nutrition for farmed fish and crustaceans, as aquaculture
continues to expand to meet global seafood demand.
Click Here to Request Your Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-19582
Iodine supplementation,
including the use of sodium iodide, plays a role in enhancing the health and
growth of aquatic species.
Innovations in packaging
materials and delivery systems can enhance the stability, shelf life, and
convenience of sodium iodide products.
Key Takeaways from the Market Study
- The global sodium iodide market was valued at
US$ 163.5 million in 2023.
- From 2019 to 2023, the market demand expanded
at a CAGR of 4.4%.
- The market in Japan is to expand at a CAGR of
6.9% through 2034.
- By grade, the industrial grade segment to
account for a share of 64.7% in 2024.
- The market in China will expand at a CAGR of
7.9% through 2034.
- In terms of end use, the agrochemical industry
segment to account for a share of 32.4% in 2024.
Technologies such as controlled
release formulations, encapsulation, and novel packaging designs offer
opportunities for differentiation and market expansion, remarks an FMI analyst.
Competitive Landscape
Prominent players in the
sodium iodide market are Honeywell International, Inc., Merck KGaA, TCI
Chemicals Pvt. Ltd., Thermo Fisher Scientific Inc., Santa Cruz Biotechnology,
Inc., Carl Roth, Cole-Parmer, Iofina, American Elements, Haffner GmbH & Co.
About the Chemicals and Materials Division
at Future Market Insights (FMI)
The chemicals and materials division of Future Market
Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and
materials industry. This exhaustive coverage extends from commodity, bulk,
specialty, and petrochemicals to advanced materials, composites, and
nanotechnology in particular, with special emphasis on ‘green alternatives,
recycling and renewable technology developments, and supply-demand-trade
assessment. Our research studies serve as referencing market guidelines for
chemical manufacturers, research institutions, channel partners, and government
bodies for developing — ‘The Way Forward’.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified,
recipient of the Stevie Award, and a member of the Greater New York Chamber of
Commerce) offers profound insights into the driving factors that are boosting
demand in the market. FMI stands as the leading global provider of market
intelligence, advisory services, consulting, and events for the Packaging, Food
and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals
markets. With a vast team of over 400 analysts worldwide, FMI provides global,
regional, and local expertise on diverse domains and industry trends across
more than 110 countries.
Contact
Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
Comments
Post a Comment