Silver Iodide Market: Global Industry Analysis and Forecast (2024-2030)

Silver Iodide Market reached a value of US $ 317.56 Mn. in 2023. Cloud Seeding is one of the dominating segment of the Global Silver Iodide Market.
Silver Iodide Market Overview:
Silver iodide is an inorganic compound with a light yellow crystalline or powdery material, which darkens on exposure to light. It is also known as silver mono iodide, neosilvol, and neosiluol. It's highly photosensitive gives rise to silver contamination. It is highly insoluble in water and is a fast ion conductor. Silver iodide is used mostly in weather modification applications including cloud seeding and anti-hail devices. Silver iodide also has applications as an antibacterial and as a photosensitive substance in photography.To know about the Research Methodology :- Request Free Sample Report
Silver Iodide Market Dynamics:
The silver iodide market is showing continuous northward direction growth, thanks to the increasing usage of silver iodide for cloud seeding across the globe. For instance, Cloud seeding has made China expand its weather modification program. In the next five years, unto 2024, the weather modification effort aims to cover 0.0055 billion square kilometers with artificial snowfall or rain. The goal of the weather modification program is to enhance agricultural productivity, disaster relief, and rapid forest fire responses, among other things. By 2035, China is expected to be a major player in the worldwide weather modification or cloud seeding industry. In addition, the UAE is launching a cloud seeding operation to alter the weather. As a result, the need for silver iodide increases. Furthermore, rising cloud seeding research and development activities from nations such as India may boost demand for silver iodide during the forecast period.

Cloud seeding with silver iodide is widely used to alleviate severe water scarcity or draughts caused by climate change. Although it is a successful product for cloud seeding, cloud seeding still has various challenges. Silver Iodide is relatively expensive, is toxic, resulting in soil pollution. The mentioned factor is expected to limit the growth of the silver iodide market in terms of consumption.
Silver Iodide Market Analysis:
Based on the Application, the Silver Iodide Market is segmented into Cloud Seeding, Antiseptic Material, Photosensitive Material, and Others. The Cloud Seeding segment held the largest market share accounting for 44% in 2023. The rise in cloud seeding activities by several nations across the globe and the increase in demand for water for agriculture in drought areas are driving the growth of the global silver Iodide market. In the Cloud seeding process, particles of salts like silver iodide and chloride are introduced into the cloud using an aircraft. The crystals of silver iodide provide nuclei—tiny cores—on which water can condense to form water droplets. According to the World Meteorological Organization report 2023, numerous nations have been performing cloud seeding. Generally, cloud seeding is used in water shortages affecting agriculture and other societal needs.
Silver Iodide Market Regional Insights:
Asia Pacific region held the largest market share accounted for 42% in 2023, and is expected to grow at a CAGR of 6.8% during the forecast period. The region growth is attributed to the increased use of silver iodide for cloud seeding and weather modification. In the Asia Pacific region, in 2023, China has invested the US $0.168 billion in a cloud seeding operation to bring rain to the country's often arid northwest. China's Metrological Agency has concluded that the country is expected to expand its cloud seeding operation over a 10% of the country's landmass over the next three years. China has already used unique cloud seeding technology to create rainfall by sprinkling catalysts like silver iodide into the clouds.

North America region is expected to witness significant growth at a CAGR of 6.62% during the forecast period. The presence of prime players along with the rising adoption of silver iodide in various end-use industries is fueling the silver iodide market growth in the region.

The objective of the report is to present a comprehensive analysis of the Silver Iodide Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Silver Iodide Market dynamic, structure by analyzing the market segments and projecting the Silver Iodide Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Silver Iodide Market make the report investor’s guide.
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Global Silver Iodide Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 317.56 Mn.


Forecast Period 2024 to 2030 CAGR:
6.71%
Market Size in 2030:
US $ 500.34  Mn.


 Segments Covered:
by Application
Cloud Seeding
Antiseptic Material
Photosensitive Material
Others



Silver Iodide Market Key Players
1.Otto Chemie Pvt. Ltd.
2.Vizag Chemical
3.Hanhong Pharmaceutical Technology Co., Ltd.
4.Anward
5.ChemScence
6.MolCore
7.ALB Materials Inc
8.Colonial Metals, Inc.
9.GFS Chemicals, Inc.
10.Deepwater Chemicals, Inc

Frequently Asked Questions:

1. Which region has the largest share in Global Market?
Ans: Asia Pacific region held the highest share in 2023.

2. What is the growth rate of Global Silver Iodide Market?
Ans: The Global Silver Iodide Market is growing at a CAGR of 6.71% during forecasting period 2024-2030.

3. What is scope of the Global Silver Iodide Market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Silver Iodide Market?
Ans: The important key players in the Global market are – 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, and Inc

5. What is the study period of this Market?
Ans: The Global Silver Iodide Market is studied from 2023 to 2030.