According to the latest report by IMARC Group, titled “Potassium Permanganate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global potassium permanganate market reached a value of US$ 681.5 Million in 2018, growing at a CAGR of 18.6% during 2011-2018. Potassium permanganate, or KMnO4, is an odorless, inorganic chemical compound which easily dissolves in water and has a powerful oxidation property. It is deep purple in color and can leave permanent stains on containers, skin and clothing. Since its discovery in the late 1850s, it has been used for curing several skin conditions, in metal processing, and air and gas purification. As it helps in conveniently eliminating magnesium and iron from water, it is used in water and wastewater treatment plants.
Since potassium permanganate is extensively utilized in the bleaching process of polyester, the growing demand from textiles industry is expected to have a positive effect on the global market. Moreover, the rising health awareness and initiatives taken by government bodies for establishing water treatment plants have further provided a boost to the market growth. In addition, as the chemical is used in fire starter kits in automobiles, the flourishing automotive industry is having a positive impact on its demand. Moreover, due to its antiseptic and high oxidizing property, it is extensively utilized in the production of hand sanitizers. Other than this, it is also used in the aquaculture industry for treating and preventing several waterborne parasitic, and fungal and bacterial diseases in fishes. On account of these factors, the market is expected to reach a value of US$ 1,257.3 Million by 2024, at a projected CAGR of 10.7% during the forecast period (2019-2024).
- The market has been segmented on the basis of applications which mainly include water treatment, wastewater treatment, chemicals manufacturing, aquaculture, metal processing, and air and gas purification. Amongst these, potassium permanganate is mostly used for water treatment.
- Based on grades, the market has been categorized as free-flowing, technical and pharmaceutical grades. Amongst these, free-flowing grade currently represents the largest segment.
- On the geographical front, China represents the biggest market, holding the majority of the total share. This can be accredited to the rising demand from aquaculture, water treatment and textile industries. China is followed by the United States, the European Union and India.
- The competitive landscape of the market has also been examined with some of the key players being Chongqing Changyuan Chemical Corporation Limited, Carus Corporation, Chongqing Chagyuan Group Limited, Groupstars Chemical (Yunnan) China L.L.C, Zunyi Shuangyuan Chemical Group Co., Ltd, Organic Industries Pvt Ltd, Libox Chem Pvt Ltd., Guangdong Meixian Hanghai Manganese Chemical Plant, and Universal Chemicals & Industries Pvt Ltd.
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