The global silver iodide industry generated $ 257.6 million in 2020 and is expected to generate $ 494.0 million by the time, with a CAGR of 6.8% from 2021 to 2030.
PORTLAND, OREGON, USA, October 19, 2021 /EINPresswire.com/ – Allied Market Research has published a report titled “Silver Iodide Market by Application (Cloud Seeding, Antiseptic Material, Photosensitive Material, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030 “. According to the report, the global silver iodide industry generated $ 257.6 million in 2020 and is expected to generate $ 494.0 million by 2030, with a CAGR of 6.8% from 2021 to 2030.
Main determinants of growth
Increasing cloud seeding activities in many countries around the world and increasing demand for water from farmers is driving the growth of global silver iodide market. However, the availability of alternatives for cloud seeding is hampering the growth of the market. On the other hand, the growth of the weather modification market or industry presents new opportunities in the coming years.
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The outbreak of the COVID-19 pandemic led to the establishment of containment, which resulted in the temporary closure of manufacturing units across the world.
The pandemic further caused disruptions in supply chain management, due to which manufacturers faced challenges in transporting raw materials and finished products, which hampered sales to some extent. .
Thus, the silver iodide industry has had a negative impact on the workforce at the level of industry, trade and logistics, demand and supply, especially in the during the initial period of COVID-19.
The cloud seeding segment to maintain its leading position during the forecast period
On the basis of applications, the cloud seeding segment accounted for the largest share in 2020, contributing more than two-fifths of the global silver iodide market, and is expected to maintain its leading position over the course of of the forecast period. This is due to the increasing demand for voice assistant solutions in the communication industry. Additionally, the same segment is expected to account for the greatest CAGR of 7.0% from 2021 to 2030. Other segments discussed in the report are antiseptic materials, photosensitive materials, and more.
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Asia-Pacific, followed by North America to maintain dominance by 2030
Based on region, Asia-Pacific followed by North America held the highest market share in terms of 2020 revenue, accounting for more than two-fifths of the global iodide market. ‘money, due to the availability of leading players coupled with an increase in the adoption of advanced voice assistant solutions in the communications industry. The same region is also expected to experience the fastest CAGR of 7.1% during the forecast period. The other provinces covered in the report are Europe, LAMEA and North America.
Main market players: –
Otto Chemie Pvt. Ltd.
Hanhong Pharmaceutical Technology Co., Ltd.
ALB Materials Inc
Colonial Metals, Inc.
GFS Chemicals, Inc.
Deepwater Chemicals, Inc.
Mil-Spec Industries Corporation.
Wuhan Silworld Chemical Co., Ltd.
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