CUPROUS IODIDE MARKET ANALYSIS

Cuprous Iodide MarketSize and Trends

Cuprous iodide widely known as a metal catalyst. It is off white to light brown powder having a chemical formula CuI. It can be prepared by heating iodine and copper in concentrated hydriodic acid. Demand of CuI is increasing attributing to its properties such as catalyzing ability in inorganic and organic synthesis, its use in cloud seeding (i.e. artificial rainfall), ability to function as semiconductor, and for heat stabilizer in manufacturing of nylon 6 and nylon 66. As per Food and Drug Administration (FDA), cuprous iodide can be used as a food additive, in table salt as a source of dietary iodine.

Market Dynamics:

• Use of CuI in solar cells is expected to be a major driver for its market growth, owing to its ability to function as p-type semiconductor.
• Non-renewable energy sources such as crude oil are depleting at high rate, however, energy demand is increasing with growing population. According to energy statistics 2018, of Government of India, solar power potential is 64.86% of total potential of renewable energies.
• Increasing demand for renewable energy is propelling demand for solar cells and thereby CuI to supplement energy requirement of the countries.

Global Cuprous Iodide Market Outlook:

• Among applications, polymer additive segment contributes to high market share, as it is used as an additive to nylon (polyamides). Global production of polyamide is growing since 2013, it was over 7 million tons in 2015, and it is further increasing, which is expected to increase demand for CuI.
• CuI helps in stabilization of nylons against effect of light and heat. Important application of Nylon 6 and nylon 66 is in high growing automotive, electrical, and electronics sector. According to Hanser’s report 2016, demand for finished products in these sectors increased by 10% from 2013 to 2015, as a result of increasing demand from Europe, North America and Asia. However, demand was higher from China. China was the biggest consumer of nylon 6 (2.3 million tonnes) in 2015. Higher demand of nylon will increase the demand for CuI.