Silver Iodide Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2021 - 2026
Silver Iodide Market is forecast to reach $xx billion by 2025, after growing at a CAGR of 5.3% during 2020-2025. The Silver Iodide market is driven by its applications in weather modification, as an antiseptic material and a photosensitive material in photography.
The report: “Silver Iodide Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Silver Iodide Market.
- Asia-Pacific dominates the Silver Iodide market owing to strong usage of silver iodide for weather modification and medicine purpose.
- Silver iodide acts as a very effective nucleus to form ice crystals. Silver iodide has an important advantage over mercury as a subject for study of electrochemical properties of interfaces.
Application - Segment Analysis
Weather modification has been the primary market for Silver Iodide. In weather modification application silver iodide is used as cloud seeding or anti hail systems. Cloud seeding is widespread and growing, as it makes rain where it normally does not or at a time when it normally would not. Cloud seeding introduces particles of salts like silver iodide and chloride into the cloud using a special aircraft. According to World Meteorological Organization (WMO) report 2018, many countries have been practicing cloud seeding, not all seeding efforts are being undertaken after a rigorous analysis. Most of the cloud seeding are undertaken primarily in addressing water shortages affecting agriculture and other societal needs. As countries across globe are facing water shortages due to change in climate conditions.
Geography - Segment Analysis
APAC dominated the Silver Iodide market with a share of more than 40%, followed by North America and Europe. In APAC, silver iodide is widely used for weather modification for cloud seeding. China is investing $168 million into cloud seeding program aimed at making it rain in its usually arid northwestern region. The China’s Metrological Agency has concluded that the country will expand its cloud seeding program in next three years over an area of 10% of country’s landmass. China has already deployed unparalleled cloud seeding technology to induce rainfall by peppering clouds with catalysts such as silver iodide. Apart from China in APAC region, Zimbabwe is thinking for incorporating cloud seeding to ease an early-season drought that’s hurting crops and destroying cattle pastures. The drought has caused some farmers to delay planting summer crops, which include the country’s staple corn. For decades, Zimbabwe has seeded silver iodide clouds that can thicken them by cooling water droplets and making them heavier.
Drivers – Silver Iodide Market
- The R&D in Cloud Seeding will drive Silver Iodide
In UAE researchers are exploring nanotechnology to enhance cloud seeding to produce rain. A new method of cloud seeding is being tested in a bid to increase rainfall in the UAE. The nanotechnology will accelerate water droplet formation on a typical cloud seeding material which has never been researched before. According to Professor Linda Zou, Khalifa University, “Nanotechnology opens up the prospect of engineering unique cloud seeding particles that makes the process of water condensation and rain precipitation more efficient”.
Challenges – Silver Iodide Market
- Silver Iodide impact on environment can restrict the growth.
Silver iodide is widely utilized in cloud seeding to counter severe water or draught situation due to climate change. Despite being successful material for cloud seeding, the cloud seeding still has many problems. One of the factor is its being quite expensive and other is silver iodide being toxic in nature which in turn does soil contamination. The above stated factor can restrict the market growth of silver iodide in terms of consumption.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Silver Iodide market. In 2019, the market of Silver Iodide has been consolidated by the top five players accounting for xx% of the share. Major players in the Silver Iodide Market are Alfa Aesar, Sigma Aldrich, Avi Chem Industries, and ESPI Metals, among others.