Global Potassium Permanganate Market Growing at a CAGR of 5.3% by 2031

Category : Materials And Chemicals | Published Date : Jun 2024

Potassium Permanganate Market Definition & Overview :

Potassium Permanganate is a chemical compound that is a strong oxidizing agent and can be used in several industries like pharmaceutical, healthcare, agriculture, and chemicals for water treatment, bleaching, coloring, and disinfecting.

Consegic Business Intelligence analyzes that the Global Potassium Permanganate Market size was valued at USD 912.60 Million in 2022, projected to grow by USD 956.61 Million in 2023, and is expected to register a CAGR of 5.3% to reach USD 1,447.13 Million by 2031.

This report comprises Potassium Permanganate Market Share, Size & Industry Analysis, By Grade (Free-Flowing Grade, Industrial Grade, and Pharmaceutical Grade), By End-User Industry (Pharmaceutical & Healthcare, Water Treatment, Food & Beverages, Agriculture, Chemical, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.

This report contains detailed information on Potassium Permanganate Market Opportunities, Trends, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.

As per the report analysis, using potassium permanganate in the mining, aquaculture, and healthcare sectors is driving the market growth. In mining, it is used for water treatment. Moreover, in fisheries and aquaculture, it is used as a disinfectant to clean water and helps to maintain favorable conditions for organisms.

Segmental Analysis :

The Potassium Permanganate Market is segmented into three major segments based on grade, end-user industry, and region.

Based on grade, the market is trifurcated into free-flowing grade, industrial grade, and pharmaceutical grade.

  • In 2022, the free-flowing grade held the highest market share, because of its freely flowing nature it is used in the textile industry as a coloring and bleaching agent.
  • During the forecasted period, the pharmaceutical-grade segment is anticipated to witness the fastest CAGR, as the compound is used as an oxidizing, bleaching, and purification agent in the manufacturing of pharmaceuticals.

Based on the end-user industry, the market is categorized into pharmaceutical & healthcare, water treatment, food & beverages, agriculture, chemical, and others.

  • The water treatment segment accounted for the highest market share of 26.55% in 2022, due to wide applications of potassium permanganate to disinfect water, remove impurities, and control algae growth.
  • Over the forecasted period, the pharmaceutical and healthcare segment is expected to fastest CAGR due to the wide usage of the compound in antibiotics, anti-inflammatory drugs, and cardiovascular drugs.

By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

  • In 2022, the Asia-Pacific region held the highest market share of 43.20% valued at USD 394.24 Million, of which China alone contributed about 29.03%. This region is also expected to register the fastest CAGR of 5.7% from 2023 to 2031, due to a rise in the pharmaceutical and healthcare industry.
Report Attributes Report Details
By Grade Free-Flowing Grade, Industrial Grade, Pharmaceutical Grade
By End-User Industry Pharmaceutical & Healthcare, Water Treatment, Food & Beverages, Agriculture, Chemical, and Others
By Region North America(U.S., Canada, Mexico)
Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe)
APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific)
Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA)
LATAM(Brazil, Argentina, Chile, Rest of LATAM)

Top Key Players & Competitive Landscape :

The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. Additionally, this report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.

List of prominent players in the Potassium Permanganate Industry :

  • Carus Group Inc.
  • GFS Chemicals, Inc.
  • Guangdong Hangxin Technology Co., Ltd.
  • Nippon Chemical Industrial Co., Ltd.
  • Magnesia
  • Milport Enterprises, Inc.
  • Changsha Yonta
  • Otto Chemie Pvt. Ltd.
  • Univar Solutions Inc.
  • Libox Chem (India) Pvt. Ltd.

Recent Industry Developments :

  • In January 2023, Carus Corporation launched a new potassium permanganate product called CarusPerm® XP designed to provide improved water treatment performance.
  • In March 2022, GFS Chemicals Inc. announced that it is expanding its potassium permanganate distribution network into Southeast Asia.