Potassium Permanganate Market - Forecast(2023 - 2028)

Potassium Permanganate Market Overview

The potassium permanganate market size is expected to reach US$1.2 billion by 2027 after growing at a CAGR of around  6.2% from 2022 to 2027. The potassium permanganate is an inorganic compound and is produced with the oxidation of potassium manganite, created by the fusion of pyrolusite and potassium hydroxide. It is also used as oxidizing titrant in the redox titration process against the oxalic acid. This chemical is used as bleaching agent and colorant in the textile sector. The liquid potassium permanganate with 80% hydrogen peroxide is used as propellant in the rocket ships. Moreover, the growing application demand of potassium permanganate in water treatment, metal processing, food preservation, pharmaceuticals, and others due to excellent oxidizing agent feature is driving the potassium permanganate industry. The potassium permanganate market will experience major growth prospects due to rising inclination towards wastewater treatment activities during the forecast period.

COVID-19 Impact

The global potassium permanganate market was hampered with the disruptions created by covid-19 outbreak. The potassium permanganate is used in various end-use industries such as chemical, wastewater treatment, automotive and others. The worldwide supply chain disruptions fall in productions, and other lockdown restrictions led to major disturbances in the market. The automotive sector suffered major disruptions and experienced decline in growth during the outbreak. The potassium permanganate is used in the fire starter kits in the automotive. The halt in auto components manufacturing, logistics difficulties, and falling demand for vehicles during the pandemic led to major impact on the market. The restrictions on travel created decline in transportation activities, thereby leading to major fall in the automotive sector. According to the International Organization of Motor Vehicle Manufacturers (OICA), the around 16% decline in world auto productions in 2020 was reported, with 21% decline in Europe, 35% in Africa, and 10% decline in Asia. Thus, with decline in the automotive sector, the application of the potassium permanganate also saw a major reduction, thereby creating a fall in the growth prospects for the global potassium permanganate industry in covid-19.

Report Coverage

The: “Potassium Permanganate Market Report – Forecast (2022-2027)” by IndustryARC covers an in-depth analysis of the following segments of the potassium permanganate industry.

By Form:  Solid and Liquid

By Grade: Free Flowing, Technical, Pharmaceutical, and Others

By Application: Water Treatment and Purification, Metal Processing, Gas Purification, Food Preservation, and Others

By End-Use Industry: Wastewater Treatment Industry, Pharmaceutical Industry (Medications, Dressings, and Disinfectants), Food and Beverage (Food Preservation, Beverage Treatment), Agriculture, Chemical, and Others

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa)

Key Takeaways

• The potassium permanganate market size is growing due to high demand in various end-use industries such as agriculture, redox titrations of oxalic acid, hydrogen peroxide, and others in chemical, wastewater treatment, and others during the forecast period.
• The Asia Pacific region held a major growth share and will continue to dominate the potassium permanganate industry due to the developing wastewater treatment and agriculture activities in the APAC region.  
• The demand for free-flowing grade type of potassium permanganate is high due to its major applications in the wastewater treatment plants, chemical processing, and others in the coming years.
  

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Potassium Permanganate Market Segment Analysis – By Grade

By grade, the free flowing segment is expected to have the largest share of more than 36% in 2021 and is expected to boost the potassium permanganate market share in the coming years. The free flowing grade type is growing majorly owing to its increasing applications in the wastewater treatments industry. The free flowing grade of potassium permanganate is best suited for high humidity conditions. Moreover, the free flowing grade type is increasingly used in the municipal and industrial water treatment plants. According to World Bank report, approval of USD 10 million was granted for the maintenance of the North Gaza wastewater treatment plant in 2020. Thus, with high demand from the wastewater treatment plants, the free flowing grade will dominate and grow in the potassium permanganate market during the forecast period.

Potassium Permanganate Market Segment Analysis – By Application

By application, the water treatment and purification segment is expected to hold a significant share of 30% in 2021 and is expected to increase the potassium permanganate market size in the coming years.  The demand for potassium permanganate is high due to increasing water treatment activities and purification uses in industrial wastewater, beverages sector, and municipal water systems. The potassium permanganate is handled as regeneration chemical for removing the hydrogen sulfide, iron, bad odor, and other contaminants from the well water. Moreover, mixing hydrogen peroxide with potassium permanganate boosts the disinfecting properties. According to European Environment Agency (EEA), around 67% of the population was associated with the tertiary water treatment level and around 13% to secondary water treatment level in 2020. Furthermore, the worldwide water scarcity is boosting the application demand for water treatment and purification. Thus, with increasing emphasis on clean drinking water, purified water in municipalities and industrial plants, the water treatment and purification application will grow majorly in the global potassium permanganate industry during the forecast period.

Potassium Permanganate Market Segment Analysis- By End-Use Industry

By end-use industry, the wastewater treatment segment is expected to have the largest share of more than 25% in 2021 and is expected to dominate in the potassium permanganate market during the forecast period. The rising development and water treatment activities are influencing the growth of potassium permanganate in the wastewater treatment sector. The oxidizing properties of potassium permanganate make it suitable for various applications in wastewater sector such as municipal water treatment, industrial wastewater treatment, and other purification activities. The potassium permanganate removes iron, hydrogen sulfide, manganese, controls odor, and dewaters the sludges in the wastewater treatment plants. According to the data from UN Waters, around 56% of the household wastewaters were treated in the year 2020. Thus, with growing emphasis towards safe water for industrial as well as municipal wastewater treatment plants, the potassium permanganate industry will experience major growth opportunities in the coming years.

Potassium Permanganate Market Segment Analysis – By Geography

By geographical analysis, the Asia pacific holds the largest potassium permanganate market share of more than 39% in 2021 and will majorly contribute in the potassium permanganate market in the coming years. The demand of potassium permanganate in this region is high due to advanced water treatment, automotive, and agriculture sector base. The growing agricultural activities is further propelling the demand for potassium permanganate as it is majorly used as germicide, fungicide, or pesticide to control the corn-to rot disease. Moreover, it is also employed as bleaching agent or for decolouring in the textile sector. According to India Brand Equity Foundation (IBEF), the textile sector is estimated to reach more than USD 209 billion by the year 2029. The growing demand from textile sector in APAC is boosting the demand for potassium permanganate. Moreover, with growing development and investment in wastewater treatment plants and purification activities in Asia, the potassium permanganate market will grow in the coming years.

Potassium Permanganate Market– Drivers

Growing demand from pharmaceuticals

The demand of potassium permanganate is high in pharmaceutical industry as it offers wide range of medical benefits. It is increasingly used in various infection or skin burns, or wounds treatment. The potassium permanganate is used for various skin conditions such as fungal infections, tropical ulcers, impetigo, and others. It is used with the procaine benzylpenicillin for the treatment of tropical ulcers. The redox titration is used in pharmaceutical for determination of various drugs. Furthermore, the popularity of potassium permanganate is rising for soaked dressings as well. It is used as wet dressing for wounds and blisters and provides an ideal treatment for fungal infections. According to the National Health Expenditure Account (NHEA), the healthcare spending in U.S reached USD 4.1 trillion, showing a growth of 9.7% in 2020. Moreover, the growing pharmaceutical consumption across the world will boost the demand and application of the potassium permanganate as an ideal treatment option for skin infections and fungal diseases, thereby creating major drive and growth opportunities for the potassium permanganate market in the coming years.

Increasing demand in automotives and textiles

The potassium permanganate is used in the fire starter kit of the automotive. It can be mixed with the anti-freeze agent from the car radiators to produce fire. The growth of the automotive sector is driving the market of the potassium permanganate. According to the China Association of Automobile Manufacturers (CAAM), domestic passenger car sales is estimated to grow by 10%, with sales for new energy vehicles exceeding 2 million units in 2021. Furthermore, the potassium permanganate is experiencing drive due to major applications in textile sector as a bleaching agent for discoloring the denim. Thus, with growing application of potassium permanganate for automotive, textiles, and other sector, the potassium permanganate market size will grow massively in the coming years.

Potassium Permanganate Market– Challenges

Threat from substitutes and toxic health effects

The demand for potassium permanganate is high due to its wide range of applications. However, the global potassium permanganate industry faces challenge from substitutes in the market. The alternatives to potassium permanganate are economical and easily available. One such substitute is sodium permanganate, which offers high solubility and is available in the liquid form, thereby reduces the dusting problem. Moreover, the handling of potassium permanganate is a challenging aspect as skin contact with high content potassium permanganate can burn or irritate the skin. The manufacturers also faces handling issues due to its adverse health effects such as eye damage, burns, irritation, breathing issues, and others. Thus, the threat of substitution and harmful health effects of potassium permanganate is restricting the growth in the market.

Global Potassium Permanganate Industry Outlook

The global potassium permanganate top 10 companies include:

1. Chongqing Jialing Chemical Co., Ltd
2. GROUPSTARS CHEMICAL  L.L.C
3. Organic Industries Pvt Ltd.  
4. Seidler Chemical Co, Inc (CARE)
5. Continental Chemicals
6. Magnesia Chemicals LLP
7. Libox Chem
8. Taj Pharmaceuticals
9. Ken Chemicals Pvt. Ltd.
10. Chemicals Indian Company

Recent Developments 

• In April 2021, a merger between ChemChina and Sinochem was announced, under a new holding company which is funded by the China government. This merger will boost the strategic technology and minimize the competition.
• In May 2020, Uralkali, a leading potassium producer, proclaims the contract with the Indian Potash Limited (IPL) for allowing smooth potassium deliveries for fertilizers. 

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