Potassium Ferrocyanide Market Size

Potassium Ferrocyanide Market size was valued at USD 385.92 Million in 2023 and is likely to cross USD 1.06 Billion by the end of 2036, registering more than 8.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of potassium ferrocyanide is estimated at USD 414.05 Million. The growth of the market can be attributed to the increasing application of potassium ferrocyanide in glucose meters. The increasing applications in the laboratory for determining the concentration of potassium permanganate are also estimated to drive market growth in the coming years. The rising consumption of wine across the world is also estimated to propel market growth as potassium ferrocyanide is widely used in the production of wine. The wine export raised more than 10% from 2020 to 2021 which also increased by 2% in 2020 from 2019 in the U.S. as per the reports.

The growing textile industry that uses potassium ferrocyanide in silk and wool dye is estimated to drive the growth of the market during the forecast period. The worth of the global textile industry in the year 2022 was more than USD 1 trillion as per the estimations. Also, the increasing applications in the extraction of metals across the world are expected to hike market growth. Potassium ferrocyanide is also used in fire retardants, computer electronics, dyes, nylon, inks, and plexiglass. According to the reports, worldwide more than 60 billion tons of metal ores, nonmetallic minerals, and fossil energy is extracted from the earth every year as of 2020.