Potassium Permanganate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Potassium Permanganate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for Potassium Permanganate was valued at USD 804.36 million in 2020 and is expected to register a CAGR of over 4% during the forecast period (2021-2026).

The COVID-19 outbreak is likely to bring several short-term and long-term consequences in various industries, such as agriculture, water treatment, and other end-user industries, which may affect the potassium permanganate market. The agriculture industry was widely impacted due to supply chain disruption and halt in the production of chemical manufacturing companies due to lockdown and workforce shortages, thus, adversely affecting the potassium permanganate market. For instance, across the world, the lockdowns in Europe have greatly disrupted food supply chains. According to Syngenta, about 46% of large European farming businesses have been impacted by the COVID-19 pandemic. Hence, the negative impact of the COVID-19 lockdown on the operations and growth of the above-mentioned industries has declined the demand for potassium permanganate in these industries.

Key Highlights

• Over the long term, the growing need for high-quality water treatment and the increasing usage as an intermediate in chemicals are driving the market growth.
• The associated health risks on the usage of potassium permanganate are expected to hinder the market growth.

Key Market TrendsGrowing Demand for Pharmaceutical and Oxidizing Uses

• Potassium permanganate has been increasingly used for medical purposes, majorly for antiseptic applications. Potassium permanganate finds its application in the treatment of various skin infections, such as dermatitis, eczema, acne, and other fungal infections.
• Doctors prefer potassium permanganate usage for people suffering from wounds with oozing, pus, and blisters. Mostly, athletes use this chemical on foot as pain relief, as the oxidizing property of potassium permanganate kills the growing fungus.
• Prescription drug expenditure in the united states stood at some 358.7 billion USD where as in 2019 it was nearly USD 345 million.
• Potassium permanganate's dilute solutions are also used in relieving symptoms of melanin on hair as some artificial dyes cause allergic reactions to people.
• Oxidizing the nature of iron and manganese by potassium permanganate helps in water filtration purposes. Filtration of water by removing toxins and corrosives and iron bacteria growth plays a major role in human health.
• Owing to the aforementioned reasons, the usage of potassium permanganate in  pharmaceutical and oxidizing is estimated to grow substantially during the forecast period.

Asia-Pacific to Dominate the Market

• Asia-Pacific is expected to dominate the global market due to the highly developed healthcare sector in China, coupled with the continuous investments done in the region to advance the water treatment and agriculture sectors through the years.
• China leads the textile industry. Moreover, the usage of potassium permanganate in the textile industry has been increasing in recent times. Potassium permanganate spray is mainly used as a decoloring and bleaching agent on denim garments to look brighter.
• There has been a growth in potassium permanganate usage in water treatment applications to remove toxins and algae. The growing demand for clean water and expanding water treatment facilities in the Asia-Pacific region is expected to support potassium permanganate consumption in the future.
• India is the largest Provider of generic drugs globally. Pharmaceutical export in India stood at USD 16.3 billion in the fiscal year 2020 whereas domestic pharmaceuticals market turnover reached USD 20.03 billion in 2019.
• The region holds the largest metal producing plants globally, and in metal processing applications, potassium permanganate helps as a cleaning agent to increase the life of metals by removing oxides and carbon residues on steel.
• The aforementioned factors are expected to drive the market in the region, during the forecast period.

Competitive Landscape

The potassium permanganate market is fragmented in nature, with the presence of a large number of players in the market. Some of the major companies are Chongqing Jialing Chemical Co., Ltd, GROUPSTARS CHEMICAL (YUNNAN) CHINA L.L.C, ORGANIC INDUSTRIES PVT LTD., Seidler Chemical Co, Inc (CARE), and Universal.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Carus Group Inc.
Chongqing Jialing Chemical Co., Ltd.
Guangdong Hangxin Technology Co
Libox
ORGANIC INDUSTRIES PVT LTD.
Seidler Chemical Co, Inc (CARE)
GFS Chemicals, Inc.
GROUPSTARS CHEMICAL (YUNNAN) CHINA L.L.C
Universal.

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.