Global Potassium Permanganate Market – Overview
The period for which the global potassium permanganate market is assessed by Transparency Market Research in its market report, based on an extensive research, is from 2015 to 2023. As per findings of the report, the global potassium permanganate market would reach a valuation of USD 3.68 billion by the end of this period. The growth translates to a CAGR (Compound Annual Growth Rate) of 3.0%.
One of the major reasons of growth in the market is the applicability of potassium permanganate in a number of varied industries. One of the prominent applicability of potassium permanganate is witnessed in waste water treatment. As water gets scarcer, need to treat water from canals and sewage gets more intense. Another industry that uses potassium permanganate is the metal processing.
The market has a significant number of players in it and over the last few years new players of small, medium, and large stature have joined in order to carve off a slice for themselves from the overall growth pie. This not only makes the vendor landscape fragmented but also competitive. And, it is worthy of mentioning here that the market has no single player leading its turf.
One of the major focus areas for players in the global potassium permanganate market is marketing their products in an effective manner. Additionally, players would be focusing upon improving the production process, injecting agility and nimbleness to it. Most players that are renowned have invested heavily in improvement of manufacturing of potassium permanganate. On the other hand, the smaller players would be directing efforts towards ensuring that the distribution channels are robust.
Noted players of global potassium permanganate market are Chongqing Chagyuan Group Limited, Carus Corporation, Zunyi Shuangyuan Chemical Group Co., Ltd., Groupstars Chemical (Yunnan) China L.L.C., and Organic Industries Pvt. Ltd.
It is noteworthy here that there are a number of strategies players in the global potassium permanganate market deploy in order to stay ahead of the competition. Some of these are based on key alliances such as mergers, acquisitions, partnerships, and collaborations.
The global potassium permanganate market report prepared by Transparency Market Research is segmented into grade, application, and region.
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Free Flowing Segment to be a Prominent Segment in the Global Potassium Permanganate Market over the Forecast Period
On the bases of grade, the sub-segmentation includes free flowing, technical, and pharmaceutical. And, on the other hand, in terms of application, the segmentation includes water and waste treatment, industrial, and others (including chemical processing, etc.). In terms of grade, volume-wise, free flowing would dominate the forecast period, contributing significantly to the growth of global potassium permanganate market, owing to strong demand arising from water treatment sector. However, it is pertinent to note here that in pharmaceutical this grade does not work as it has assay requirements of 99%. This is what will lead to demand for pharmaceutical grade, which is also set to see growth at a notable CAGR.
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Asia Pacific to be a Prominent Regional Market over the Forecast Period
On the basis of region, the global potassium permanganate market covers North America, Europe, Middle-east and Africa (MEA), Asia Pacific (APAC), and Latin America. Out of these Asia Pacific would chart significant growth statistics owing to impressive demand increase noted in the textile and processing industry. Countries such as China and India will lead the market growth over the forecast period. Other ASEAN countries would also play a significant role in the overall growth of potassium permanganate.
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