Key Market Overview:
Potassium Permanganate Market size was worth USD 1.3 Billion in 2021, accounting for a CAGR of 8.2% during the forecast period (2022-2030), and the market is projected to be worth USD 2.7 Billion by 2030.
Potassium permanganate (KMnO4), also known as condy’s crystals, it is a chemical compound that consists of manganese, potassium, and oxygen. It is a dark purplish black crystalline solid. It is an oxidizing agent (it can add oxygen or remove electrons from other substances). Potassium permanganate can be extracted through the procedure of electrolysis and can be separated from the solution through crystallization. Potassium permanganate is the most powerful oxidizer that can be used in several applications, such as water treatment, sanitation, chemical, textile, and pharmaceutical businesses. Furthermore, in the treatment of water, it is used as a disinfectant. Potassium permanganate also eliminates manganese and iron from water. In emergencies, potassium permanganate is used to purify water from sources such as streams or wells. In food processing, it acts as a sanitizer. In the pharmaceutical industry, it helps in healing wounds and skin conditions as an antiseptic.
Through the regional analysis of the potassium permanganate market, it is determined that Asia Pacific dominated the global market with the largest revenue share in 2021. This is attributed to the increased demand for potassium permanganate for water treatment to fulfill the need of the large population of the region. North America is likely to witness significant growth over the forecast period. This is due to the strong establishment of leading players and the product’s several applications in industries such as pharmaceuticals, cosmetics, and textiles.
Market Dynamics
Driver
- Rising demand for water treatment and concerns about water pollution:
Potassium permanganate is utilized in water treatment procedures as a powerful oxidizing agent. Furthermore, with the increasing awareness among the population about clean water propels the potassium permanganate market as a water treatment solution.
- Growing demand from the industry of pharmaceutical as a sterilizing agent and disinfectant:
Potassium permanganate is utilized in the pharmaceutical industry as a disinfectant and sterilizing agent to remove bacteria or organic matter. Thus, the increase in the demand for the pharmaceutical industry drives market growth.
Restraint
- Accessibility of other alternatives:
Chemicals such as chlorine and hydrogen peroxide can be utilized as oxidizing agents in water treatment and industrial applications, which hamper the demand for potassium permanganate.
- High cost of the product:
Potassium permanganate is costlier than other chemicals, which in turn increases the production cost for some industries utilizing it, which hampers the demand of the market.
- Safety concerns and Environmental regulations:
Potassium permanganate is a strong oxidizing agent that is harmful to handle, which limits its usage in certain industries. Moreover, stringent guidelines regarding the handling and disposal of potassium permanganate hamper the market growth.
Opportunities
The development of new and more eco-friendly production procedures for potassium permanganate, reducing the environmental impact and making it a more sustainable option for consumers will create ample opportunities in the market. Furthermore, the leading companies are developing improved formulations of potassium permanganate to make it extra effective, efficient, and safe for end-use segments to utilize in multiple applications.
Potassium Permanganate Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 2.7 Billion |
| CAGR (2022-2030) | 8.2% |
| By Grade | Pure Grade Crystals (99% min.), Technical Grade (98% min.), Pure Grade Powder (99% min.), and Free Flowing Grade (FFG-97% min.). |
| By Application | Water Purification, Disinfectant & Oxidizing Agent, Decoloring Agent, and Others |
| By End-use | Water Treatment, Healthcare, Textile, and Others. |
| By Geography | Asia Pacific, Europe, the Middle East & Africa, North America, and Latin America. |
| Key Players | Chongqing Jialing Chemical Co., GFS Chemicals Inc., Carus Chemical Inc., Libox Chem (India) Pvt Ltd., Milport Enterprises Inc., Groupstars Chemical (Yunnan) China L.L.C, Organic Industries Pvt Ltd., Nippon Chemical Industrial, Universal Chemicals & Industries Pvt. Ltd., and Benntag Nordic A/S. |
Market Segmentation:
By Grade
Based on the grade the market is segmented into Pure Grade Crystals (99% min.), Technical Grade (98% min.), Pure Grade Powder (99% min.), and Free Flowing Grade (FFG-97% min.). Pure-grade crystals (99% min) hold the largest share of the market. This is the highest purity grade and is generally used in applications that need stain removal and a high degree of chemical reactivity, such as water treatment, pharmaceuticals, and others. Furthermore, the technical grade (98% min.) is projected to witness the fastest CAGR over the forecast period. As it is the lowest purity grade and is generally employed in applications where the chemical’s purity is less critical, such as in the manufacturing of dyes or as a chemical intermediate.
By Application
The application segment is categorized into water purification, disinfectant & oxidizing agent, decoloring agent, and others. The water purification application dominated the market with the largest share in the market in 2021. As potassium permanganate is extensively used in water treatment to remove impurities and neutralize pathogens. The increasing need for clean water across the world is fuelling this application of potassium permanganate. Furthermore, the disinfectant & oxidizing agent application segment is the fastest-growing segment over the forecast period. As potassium permanganate, it is used as an oxidizing agent in various chemical reactions to oxidize and remove impurities.
By End-use
The end-user segment is divided into water treatment, healthcare, textile, and others. The water treatment end-use segment dominated with the largest share in 2021. This is due to the growing need for water treatment and purification as a result of the growing population and rapid urbanization. It is utilized to purify and disinfect drinking water, sewage, and wastewater. The extensive utilization of potassium permanganate in the water treatment industry makes it the widely used end-use segment in the market globally. However, other end-use segments such as textile, healthcare, and agriculture will observe substantial growth over the forecast period. In the healthcare industry, it is used as a sterilizing agent in surgical instruments and employed in skin-related medicines to treat skin conditions such as eczema. The increasing demand in agriculture for protecting the crop from bacteria and fungi is further propelling the market growth.
By Region
The regional segment is categorized into Asia Pacific, Europe, the Middle East, Africa, North America, and Latin America. The Asia Pacific was the dominating region with the largest revenue share in 2021. This is owing to the rapid development and enormous population. The increasing demand for water treatment and drinking water purification in the region is propelling the demand for potassium permanganate. India, China, and other South-eastern Asian countries are significant markets in the Asia Pacific. The rapid urbanization and industrialization in these countries are driving the market. North America and Europe region are also important markets for potassium permanganate, as there are several major water purification and treatment companies in the region.
Potassium Permanganate Market Competitive Landscape
Stakeholders have the opportunity to assess parameters such as merger acquisitions, business strategies, and SWOT analysis. The nature of the global market is predominantly competitive or high due to the existence of large numbers of market industry players. Listed are the key market players that consist of the latest market concentration or currently operate or function in market circumstances.
- Chongqing Jialing Chemical Co.
- GFS Chemicals Inc.
- Carus Chemical
- Libox Chem (India) Pvt Ltd.
- Milport Enterprises Inc.
- Groupstars Chemical (Yunnan) China L.L.C
- Organic Industries Pvt Ltd.
- Nippon Chemical Industrial
- Universal Chemicals & Industries Pvt. Ltd
- Benntag Nordic A/S
Recent developments
- In January 2023, NSF International recognized Carus Group Inc. for its outstanding achievement of product quality and excellence, through certification of Carus’ drinking water treatment products.
- In November 2020, DNV, an internationally accredited registrar, certified Benntag Nordic A/S with Food Safety System Certification 22000. This certification scheme is based on the current internationally recognized standard ISO 22000.
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