Newark, April 30, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 0.90 Billion potassium permanganate market will reach USD 1.4 Billion by 2033. Rapidly growing demand for control and prevention of plant diseases may fuel the growth of the Potassium Permanganate Market. The rising demand for potassium permanganate in plant disease and pest management drives market growth. Farmers face challenges in protecting crops from diseases, fungi, and pests, impacting yield and quality. Potassium permanganate acts as a powerful disinfectant and fungicide, eliminating harmful pathogens and moulds from soil and plants, and reducing infection risks. It also serves as a natural pesticide against pests like nematodes and insects, meeting the growing global demand for sustainable pest control solutions.
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Scope of Potassium Permanganate Market
| Report Coverage | Details |
| CAGR | 4.5% from 2024 to 2033 |
| Market Size in 2023 | USD 0.90 billion |
| Market Size by 2033 | USD 1.4 billion |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2020-2022 |
| Segments Covered | by End User, Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Potassium Permanganate Market Size by End User (Pharmaceutical, Water Treatment, Food & Beverage, Agriculture, Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
Asia Pacific emerged as the largest global Potassium Permanganate market, accounting for 40% of the total market. Further, it is also expected to be the fastest-growing in the market, owing to the presence of advanced manufacturing chemical infrastructure units/factories in the region. Additionally, rising demand for clean water in the global market is also another major factor boosting the growth of Potassium Permanganate in the Asian Market.
Pharmaceutical Segment has dominated the Potassium Permanganate market. Thereby acquiring 45% in the year 2023
Pharmaceutical Segment has dominated the Potassium Permanganate market. Thereby acquiring 45% in the year 2023. Owing to rapidly growing medicines, skin illness, eczema, and acne in the global market. Additionally, Water treatment is expected to be the fastest-growing in the market, owing to the rising demand to remove algae and the rising demand for clean water in the global market.
Latest Development:
• In 2020, Carus Chemical disclosed its acquisition of Industrial Quimica del Nalon, aimed at bolstering its foothold in the European potassium permanganate market. This strategic move is expected to facilitate the company in augmenting its market share over the long term.
• In February 2023, Camfil broadened the accessibility of Potassium Permanganate Media in the U.S. through the introduction of CamPure 8, marking the next generation of air filtration for odor and corrosion control.
This expansion signifies Camfil's commitment to offering a diverse range of solutions to its end-users, thereby bolstering its customer base over the long term.
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Market Dynamics
Drivers: Increasing demand from the agriculture industry
The market is experiencing rapid growth as the agricultural sector acknowledges the potential advantages of potassium permanganate in disease and pest management. This surge in demand substantially contributes to the overall expansion of the potassium permanganate market, underscoring its crucial role in enhancing plant health and agricultural yield.
Restraint: Health issues associated with Potassium Permanganate
The utilization of Potassium Permanganate not only exacerbates skin irritation but also elevates the potential for respiratory issues. Consequently, this is closely linked with a decline in consumer confidence and undermines consumer trust over time. This in turn poses a threat to the Potassium Permanganate Market.
Opportunity: Rapidly growing demand for control and prevention of plant diseases
The rising demand for potassium permanganate in plant disease and pest management drives market growth. Farmers face challenges in protecting crops from diseases, fungi, and pests, impacting yield and quality. Potassium permanganate acts as a powerful disinfectant and fungicide, eliminating harmful pathogens and molds from soil and plants, and reducing infection risks. It also serves as a natural pesticide against pests like nematodes and insects, meeting the growing global demand for sustainable pest control solutions.
Challenge: Increasing competition from the market players
Intensified competition often leads to price wars as companies vie for market share. This can result in downward pressure on prices for potassium permanganate products, reducing profit margins for manufacturers. This poses a threat to the market in the long run.
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Some of the major players operating in the Potassium Permanganate market are:
• Carus Group Inc
• Changsha Yonta
• Chongqing Changyuan Group Limited
• GFS Chemicals Inc
• Guangdong Hangxin Technology Co Ltd
• Libox Chem (India) Pvt Ltd
• Magnesia
• Milport Enterprises Inc
• Nippon Chemical Industrial Co Ltd
• Otto Chemie Pvt Ltd
Key Segments cover in the market:
By End-User:
• Pharmaceutical
• Water Treatment
• Food & Beverage
• Agriculture
• Others
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About the report:
The global Potassium Permanganate market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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