LONDON--(BUSINESS WIRE)--The global potassium permanganate market size is expected to grow by USD 60.11 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
Potassium permanganate is extensively used in the textile industry as a bleaching agent. It is used in the bleaching process of polyester fabrics, cotton fabrics, and jeans. Potassium permanganate is preferred in the textile industry due to its powerful oxidation property. It is also considered economical when compared to conventional bleaching agents. In addition, potassium permanganate does not affect the dye uptake values adversely, like other conventional bleaching agents. Moreover, the global textile market is anticipated to grow significantly because of the increase in the demand for fabrics, changing fashion trends, affordability of buying clothes due to the rise in disposable income, and the rise in the standard of living. Thus, the growing textile industry is expected to drive the growth of the market during the forecast period.
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As per Technavio, the growing demand from water treatment will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Potassium Permanganate Market: Growing Demand from Water Treatment
Potassium permanganate is primarily used in the water treatment industry due to its strong oxidation properties. In the water treatment industry, potassium permanganate used for controlling the taste and odors of water, biological growth in treatment plants, and zebra mussels in intake structures and pipelines. Potassium permanganate is also used for removing iron and manganese from water, and in the formulation of trihalomethanes and other disinfection by-products and oxidizing precursors. Moreover, the global water treatment market is growing significantly. The water crisis across the globe and a gradual drop in the availability of clean drinking water due to the increase in industrial activities are the factors driving the growth of the global water treatment market. These factors are subsequently fostering the demand for potassium permanganate in the water treatment industry.
“Factors such as the high demand from China, the US, and India, and the high consumption of potassium permanganate in the pharmaceutical industries will have a significant impact on the growth of the potassium permanganate market value during the forecast period,” says a senior analyst at Technavio.
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Potassium Permanganate Market: Segmentation Analysis
This market research report segments the potassium permanganate market by application (water treatment, industrial and pharmaceutical, and others) and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the potassium permanganate market share in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increase in the demand from textiles, aquaculture, and water treatment, and the presence of major vendors in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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