Global Potassium Permanganate Market: Snapshot
The growth of the global potassium permanganate market is largely supplemented by the flourishing growth of the end-use industries including chemical, waste and water treatment, and textile. Rising consumer awareness and increasing initiatives by governments worldwide to supply well-treated and soft water to the masses are stoking the growth of the market. A report by Transparency Market Research (TMR) indicates that the global potassium permanganate market is estimated to exhibit a CAGR of 3.0% from 2015 to 2023, reaching a valuation of US$368.1 mn by 2023.
However, the growth of the market is hampered by the presence of substitutes such as sodium permanganate, which are more promising in terms of availability and solubility. Nevertheless, the growing popularity of aquaculture is opening new avenues for market participants.
Demand for Potassium Permanganate to Remain High Across Waste and Water Treatment Sector
On the basis of grade, the free flowing segment will account for the lion’s share in terms of volume in the global arena throughout the forecast period. The strong demand from the waste and water treatment sector is fuelling the growth of the segment. However, the free flowing grade cannot be used in pharmaceutical applications as it cannot fulfil the 99% assay requirement. TMR analysts state that this is where the pharmaceutical grade come into play and therefore, the pharmaceutical segment will expand at a noteworthy CAGR during the same period.
Based on application, the global potassium permanganate market is divided into industrial, water and water treatment, and others. The waste and water treatment segment commands the dominant share in the market. Potassium permanganate is a widely used oxidant for removing hardness of water and also manganese and iron from water due to their high effectiveness and efficiency. The others (includes chemical and food processing) segment is expected to register a considerable CAGR during the forecast period, owing to the surging demand from the chemical industry in Europe and Asia Pacific.
Strong Demand from Textile and Processing Industry Puts Asia Pacific at Forefront
The key regions reviewed in the research report are North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Asia Pacific will be the most prominent destination for global participants. The demand for potassium permanganate stems from the textile and processing industry in India, China, and other emerging countries in ASEAN. Favorable government initiatives play an important role in the development of the market in the region. Owing to these factors, APAC will post a growth rate faster than any other region during the review period.
By volume, North America is next in line in terms of CAGR. The end-use industries in this region are gradually recovering from the economic downturn in 2008 and are expected to render the regional market highly opportunistic. Europe is also likely to emerge as a strong contender during the same period, thanks to conducive regulatory framework. The growth of the Middle East can be attributed to soaring demand for potassium permanganate from the water treatment industry. In Latin America, the robust growth of the paper and pulp industry will be responsible for driving the market for potassium permanganate.
Some of the prominent companies operating in the global potassium permanganate market are Chongqing Chagyuan Group Limited, Universal Chemicals & Industries Pvt. Ltd., Groupstars Chemical (Yunnan) China L.L.C, Libox Chem Pvt Ltd., Carus Corporation, Organic Industries Pvt Ltd, Zunyi Shuangyuan Chemical Group Co. Ltd., and Guangdong Meixian Hanghai Manganese Chemical Plant.
Potassium permanganate, also known as potassium of potash, is a compound of potassium, manganese, and oxygen. It is used in waste treatment, aquaculture, metal processing, chemical manufacturing & processing, and air & gas purification. Potassium permanganate is also employed as a bleaching and coloring agent in tanning & textile industries.
This report forecasts and analyzes the potassium permanganate market on the global and regional level. The study provides historic data for 2014 coupled with forecast from 2015 to 2023 based on volume (tons) and revenue (US$ thousand). It includes drivers and restraints for the potassium permanganate market along with their impact on demand during the forecast period. Additionally, the study comprises opportunities available in the potassium permanganate market. Detailed value chain analysis has been included to provide a comprehensive view of the potassium permanganate market. Analysis of Porter’s Five Forces Model for the potassium permanganate market has also been included to help understand the competitive landscape in the market.
The study analyzes the potassium permanganate market by segmenting it based on grade, application, and region. Grade includes present and forecast demand for water & waste treatment, industrial, and others (chemical processing, etc.). Regional segmentation includes current and forecast demand for potassium permanganate in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa and major countries in these regions.
Prices of potassium permanganate vary in each region. Hence, a similar volume-to-revenue ratio does not follow for each individual region. Regional average price has been considered while breaking down the market into grades and applications in each region. The report provides estimated market size of potassium permanganate market for 2015 and forecast up to 2023. The size of the global potassium permanganate market has been provided in terms of volume and revenue. Market volume has been defined in tons, while revenue is provided in US$ thousand. The global potassium market has been estimated based on demand for various grades such as free flowing, technical, and pharmaceutical. The market has also been projected based on major application segments of potassium permanganate. These include water & waste treatment, industrial, and others. Water & waste treatment includes applications such as municipal water treatment, industrial wastewater treatment, and other hazardous waste treatment. Industrial applications comprise metal surface treatment, equipment cleaning, mining and metallurgical, textiles, and purification of gases. Other applications include chemical processing and food processing.
In order to compile the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
The report also offers competitive landscape of the overall market with company profiles of players such as Group Co., Ltd., Organic Industries Pvt Ltd, Libox Chem Pvt Ltd., Guangdong Meixian Hanghai Manganese Chemical Plant, and Universal Chemicals & Industries Pvt. Ltd. Detailed description of the company overview in terms of headquarters, inception, upcoming capacities, key mergers & acquisitions, financial overview, and recent developments provides a thorough idea about the competitive positioning of players in the market.
This report segments the global potassium permanganate market as follows:
Global Potassium Permanganate Market – Grade Analysis
- Free flowing
Global Potassium Permanganate Market – Application Analysis
- Water & waste treatment
- Others (Including Chemical processing, etc.)
Global Potassium Permanganate Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA