Silver Iodide Market Size

Silver iodide market is projected to reach $494.0 million by 2030, growing at a CAGR of 6.8% from 2021 to 2030

WILMINGTON, DELAWARE , UNITED STATES, February 26, 2024 /EINPresswire.com/ -- According to the report, the global silver Iodide industry generated $257.6 million in 2020, and is anticipated to generate $494.0 million by 2030, witnessing a CAGR of 6.8% from 2021 to 2030.

Allied Market Research 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".

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Prime determinants of growth:
Rise in cloud seeding activities by numerous countries around the world and surge in demand for water from farmers drive the growth of the global silver Iodide market. However, availability of alternatives for cloud seeding hinder the market growth. On the other hand, the growth of weather modification market or industry present new opportunities in the coming years.

Leading Market Players:-
⦁ Otto Chemie Pvt. Ltd.
⦁ Vizag Chemical
⦁ Hanhong Pharmaceutical Technology Co., Ltd.
⦁ Anward
⦁ ChemScence
⦁ MolCore
⦁ ALB Materials Inc
⦁ Colonial Metals, Inc.
⦁ GFS Chemicals, Inc.
⦁ Deepwater Chemicals, Inc.
⦁ Mil-Spec Industries Corporation.
⦁ Wuhan Silworld Chemical Co., Ltd.
⦁ Noah Chemicals
⦁ ESPI metal

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Key findings of the study
⦁ The report outlines the current silver iodide market trends and future scenario of the market from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
⦁ The silver iodide market size is provided in terms of revenue.
⦁ On the basis of region, Europe silver iodide market garnered share of 13.5% in 2020 in terms of revenue.
⦁ On the basis of application, antiseptic material segment garnered market share of 21.2% in 2020 in terms of revenue.
⦁ The report also covers the impact of COVID-19 on the silver iodide market.

The cloud seeding segment to maintain its lead position during the forecast period
Based on application, the cloud seeding segment accounted for the largest share in 2020, contributing to more than two-fifths of the global silver Iodide market, and is projected to maintain its lead position during the forecast period. This is due to rise in demand for voice assistant solution across communication sector. Moreover, the same segment is expected to portray the largest CAGR of 7.0% from 2021 to 2030. Other segments discussed on the report are antiseptic material, photosensitive materials etc.

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Asia-Pacific, followed by North America to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global silver Iodide market, owing to the availability of prime players paired with rise in adoption of advanced voice assistant solutions across communication sector. The same region is also expected to witness the fastest CAGR of 7.1% during the forecast period. Other provinces discussed on the report are Europe, LAMEA and North America.

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