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Potassium iodate is a chemical substance that is employed as an oxidizing component and causes fire when it makes contact with fuel materials. It can be accomplished by reacting iodine to a highly focused potassium hydroxide solution. It can also be produced by combining to a potassium-containing foundation such as potassium hydroxide with iodine acid. Potassium iodide is employed as an additive to increase the amount of herbage iodine. Potassium iodate is used to iode salt to avoid lack of iodine in humans.
The rising demand for potassium iodate in agriculture as well as pharmaceutical sector drives the market. Potassium Iodate is employed in agriculture as a stable source of iodine for the treatment and prevention of animal ailments. It has an increased application in pharmaceutical products for the manufacture of disinfectants and antiseptics. Owing to such a large variety of applications and the increasing demand for such products for potassium iodide is expected to increase. However, potassium iodide has the downside of creating a greater intestinal allergic reaction that contributes to health problems and is thus expected to curb market development.
Based on grade, the market for global potassium iodate is further segmented into pharma grade and industrial grade. Based on application, the market for global potassium iodate is further segmented into chemical industry, agricultural industry, pharmaceutical industry, others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global potassium iodate market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the global potassium iodate market include Sociedad Química y Minera, Iofina, ISE Chemicals Corporation, IOCHEM Corporation, Compañía de Salitre y Yodo, Algorta Norte SA and others
In terms of Geography, the global potassium iodate market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Rapid and continuous growth in the industrial sectors in these regions is anticipated to fuel the growth for potassium iodide in the manufacture of different products. Good consumer awareness, technologically advanced processing bases and, most importantly, a dynamic end-user ecosystem characterize the North American industry. Europeon market is marked by regulations implemented by European Commission organizations on the authorisation of iodate, has in turn boosted the European potassium iodate market to reach higher points of interest throughout the forecast period. Middle East and Africa are expected to face steady growth due to the broad variety of applications of potassium iodide. Latin America is seeing relatively slow growth owing to strict government regulations.
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