Potassium Iodide Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Potassium Iodide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Potassium Iodide Price Trend for the Second Half of 2023

Asia

During the third quarter of 2023, the potassium iodide prices demonstrated oscillations based on the feeble demand sentiments from the downstream industries and fluctuations in the purchasing budgets of the consumers, which eventually led to the rise in inventory levels.

Potassium Iodide Price Chart

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Industrial activities during this period were also affected by cuts in crude oil exports. However, the winds turned bullish in the next quarter at the onset of the winter holiday season. Further, the rise in the usage of potassium iodide in agriculture-based products also helped the market momentum to incline during the end months of the year.

Europe

The fate of the potassium iodide prices during the third and fourth quarters was similar to what was observed in the Asian countries. The dynamics of the market remained subdued during the first quarter of H2-2023 as the industrial sector fell short amid rising economic uncertainties, inflationary pressure, and budget constraints.

On the other hand, the production costs kept on rising as the prices of feedstock materials and crude oil hiked by a remarkable margin. However, as seen in the Asian countries, the prices turned northwards in the fourth quarter as the supply of potassium iodide was only moderate, but the demand grew gradually and outpaced the existing inventories by the end of 2023.

North America

Continuing its trend from the second quarter, the prices of potassium iodide fell further in the third quarter of 2023 as the downstream industries maintained their low rates of procurement. The consecutive decline in consumer interest from both domestic and overseas industries was based on rising concerns regarding dipping economic indicators and mild trading activities. But market sentiment became bullish at the beginning of the fourth quarter. The uptick in the prices during this phase was supported by the rise in demand from the fertilizer industries as the winter sowing season got delayed.

Analyst Insight

According to Procurement Resource, the price trend of Potassium Iodide is estimated to showcase a positive run in the near quarters as the demand and overall market dynamics are expected to grow gradually.

Potassium Iodide Price Trend for the First Half of 2023

Asia

Potassium Iodide price trend fluctuated throughout, with a major downward inclination. Primarily attributed to the bearish demand sentiments, Potassium Iodide exhibited a poor performance. Potassium Iodide is mainly utilized in the pharma, chemical, biomedical, and personal care sectors, and these sectors buy their required feedstocks in advance. So, the inventories were piled with unused stocks. This, coupled with eased upstream and production situations, led to a slump in Potassium Iodide market trend.

Europe

The European market witnessed a mixed performance in Potassium Iodide prices in the said period. The first quarter was slow because the inflationary pressure had reduced, which in turn alleviated the upstream cost support. Moreover, the winter season posed fewer demands and further restricted the Potassium Iodide market growth. However, as the second quarter arrived, some oscillations were experienced in the consumption sectors. The demands grew feverishly and slightly shifted the Potassium Iodide trade momentum. Howbeit, the shift was temporary as soon the high stock levels again started dominating, and the prices turned south.

North America

The North American Potassium Iodide market was no different than other major markets in the first six months of the said year. The agrochemical and fertilizer markets were saturated and had grown unsustainably high in the previous year. So, Potassium Iodide prices continued to decline persistently during the discussed period.

Analyst Insight

According to Procurement Resource, the Potassium Iodide market is bound to fluctuate with the demands in the downstream industries. Inventory levels will also be influential. A mixed market response is expected.

Potassium Iodide Price Trend for the Second Half of 2022

Asia Pacific

The prices decreased for potassium iodide in the Asian-Pacific region over the said period. The abundant supply in the region exceeded demand and was the key reason for determining the market dynamics. The ongoing Russia-Ukraine crisis also led to several restrictions on trade and decreased the prices for the commodity. The potassium iodide market thus remained bearish as the momentum slowed down.

Europe

The European market declined in terms of potassium iodide prices. The market saw a gradual decline in demand, which was the primary factor for the decline in the third and fourth quarters. The region also saw stockpiling as a result of the disruption of supply-demand dynamics. The Russia-Ukraine crisis further worsen the situation and the quarters thus saw lowering utility costs and logistical challenges that negatively affected the price trend of potassium iodide.

North America

In the North American region, the prices of potassium iodide declined in the said period. Downstream purchases decreased as a result of the depressing trading situation in the regional market.  The stockpiles continued to increase in the third quarter and consumption fell along with disruption in the supply chain dynamics. The inflation rates also kept on rising and the consumers were thus reluctant to buy the commodity which eventually led to the decline in the prices.

Analyst Insight

The prices of Potassium Iodide are likely to be volatile during the coming month owing to the low demand and the baulking out of the buyers given the current unfolding financial crisis.

Potassium Iodide Price Trend For the First Half of 2022

Prices for potassium iodide have surged in the first half of 2022 as a result of an increase in demand for potassium iodide pills in the European region owing to the Russia-Ukraine war.

European consumers are hurrying to acquire iodine and potassium iodide pills, which help mitigate the effects of nuclear radiation exposure, while pharmacies in Finland, Norway, and Luxembourg are running low on stock.

Since the start of the Russian invasion, manufacturer inventories in the United States have decreased. As a result, the cost of Thyrosafe potassium iodide pills, sold in the US, has doubled. The company's potassium iodide products are in high demand in the European and North American pharmaceutical industries as well.

Procurement Resource provides latest prices of Potassium Iodide. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.