ID: MRFR/CnM/4667-HCR | February 2021 | Region: Global | 100 pages
Persulfates Market is expected to surpass the market value of over USD 965.65 million by the year 2028 while registering a CAGR of 5.75% during the forecast 2021-2030.
Persulfates are the chemically active components that are active peroxygenase which is capable of serving a host of applications. The persulfates are considered as the crucial component in the manufacturing of plastics, rubber and they are also used as emulsion polymerization. They are curing agents and they are capable of stabilizing the soil near the buildings and thereby protecting the buildings and so on. The persulfates are used as oxidizing agents as well. They have a wide range of applications and are thereby used in varied end-user industries like Oil and gas, textiles, electrical and electronics, cosmetics and skincare, and significant others. The changing attitude and growing population are propelling the overall growth of persulfates industry in the recent times.
COVID 19 Analysis:
COVID 19 had a severe impact on the growth of electronics and other potential end-user industries. The Electronics industry was facing severe distress during the COVID-19 and there was also a huge dip in the growth of the oil and gas industry. Such changing conditions from different end-user industries have affected the overall growth of the persulfates industry.
Only the extremely essential products were gaining momentum during the pandemic. Therefore the demand for latex gloves and latex polymers was increasing during the pandemic. Such factors have supported the overall growth of the persulfates industry during the pandemic.
Post-COVID, several industries have increased their investments and they have also potentially created opportunities for growth in various ways. Therefore persulfates market growth is expected to grow with a healthy CAGR during the forecast period.
Persulfates are used in cleaning the metals like brass, copper, nickel, and aluminum which are utilized for industrial purposes. The coatings are made after the cleaning processes because of their efficiency. Therefore the increasing growth in the industrial verticals is propelling the overall growth of the persulfates industry in recent years.
Sodium persulfates are considered the key component in the pharmaceutical industry. The potential characteristics of varied persulfates are used in varied applications and hence promoting the overall growth of the persulfates industry. Moreover, persulfates can eliminate the toxic substances that are present in the wastewater by degradation. Such water treatment applications are getting highly essential in recent times.
The increasing utilization of the persulfates in varied end-user industries like cosmetics, personal care, and preservative agents in the food industry is expected to boost the overall growth of the persulfates industry during the forecast period. The bolstering growth of the key end-user industries and the increasing investment in persulfates are expected to stimulate the growth of persulfates during the forecast period.
The increasing inclination towards electronics and the increasing penetration of the internet across the globe are propelling the overall growth of the persulfates industry in recent times. The etching processes in the printed circuit boards are crucial and they are carried out by these persulfates. Such factors are expected to boost the overall growth of the persulfates industry during the forecast period.
The storage and handling measures of sodium persulfates are crucial and time-consuming processes. As it is an oxidizer, it can cause serious effects like breathing problems and so on.
A combination of these persulfate salts with magnesium and other forms can produce explosive compositions.
The health effects caused by the cosmetic products that are produced from ammonium persulfate are growing at a greater measure. Therefore these cosmetic products require proper measures in handling, storing, and disposal. Some of the potential health hazards include allergy, irritations, rhinitis, and so on. Therefore there are stringent regulations in some developed countries on using ammonium persulfates in cosmetics. This is considered as the major challenge for the overall growth of the persulfates industry.
Similarly, the toxic nature of the potassium persulfates and others might lead to cancer and other serious health-related concerns are prohibit the manufacturers to utilize the persulfates.
Cumulative growth analysis:
The market value of persulfates was at USD 615.99 million in the year 2020 and it is expected to surpass the market value of over USD 965.65 million by the year 2028 while registering a CAGR of 5.75% during the forecast period. The growth of the persulfates industry is primarily due to the increasing consumption of persulfates in the production-intensive end-user industries.
Moreover, the growth of the persulfates industry is highly influenced by the growth and development of the polymers industry and their increasing utilization of them. Several manufacturing countries like Japan, India, and China due to their increasing manufacturing processes across polymer production, electronic production facilities, cosmetics, and personal care production are propelling the growth of the persulfates industry.
The crucial processes like oxidizing, bleaching processes of the pulp and paper industries are carried out with the persulfates and therefore Asia-pacific region is propelling the overall growth of the persulfates industry. Persulfates are used as reagents as well in the pharmaceutical industry, especially for carboxylic acids, ketones, antibiotics, quinones, and so on. Therefore the demand in the pharmaceutical industry is propelling the persulfates market growth.
Value chain analysis:
The growth of the persulfates is highly influenced by the increasing utilization of sodium persulfates. Sodium persulfates are considered as the strong oxidizing agent that is required in the manufacturing of polymers. They are also used in PCB manufacturing as an etching and cleaning agent. The increasing production of polymers for industrial purposes and utilization in consumer goods are presenting lucrative opportunities for the overall growth of the persulfates industry. Similarly, the demand for ammonium sulfates is also increasing in cosmetics and personal care products. The growing demand and the changing inclination towards cosmetics and personal care products are projecting the persulfates market demand in recent years.
With the increasing penetration of the internet and favorable economic condition, the demand for electronics is higher. Therefore the utilization of the persulfates in the electronics industry for cleaning and etching of the printed circuit substrates are also increasing. The persulfates are effective in cleaning the metals like brass, copper, nickel, aluminum, zinc, and titanium.
Therefore the electronics segment is expected to grow with a CAGR of 3.58% during the forecast period. Similarly, the persulfates are used as a bleaching and sizing agent, where bleaching is an important procedure done in the fashion world. The persulfates are inevitable in synthesizing polymers. Additionally, due to their characteristics, they are used in the production of latex polymers which are used in paints, coatings, and carpet baking.
Based on Type:
Based on Application:
Based on End-user Industry:
Global Persulfates Market Share in 2017, by Type
Source: MRFR Analysis
The Asia-pacific region is expected to dominate the overall growth of the persulfates industry due to the increasing demand from potential end-user industries like polymers, electronics, cosmetics, personal care, and significant others. Since persulfates are utilized intensively in varied applications, the demand for them is also increasing significantly. For instance, China is considered the second-largest manufacturer of cosmetics and skincare products. Korean skincare brands are gaining momentum across the globe as they come with excellent branding, quality, and marketing strategies. Such factors are presenting lucrative opportunities for the overall growth of the persulfates industry during the forecast period.
Moreover, China is considered the leading manufacturing hub in the world, due to the increasing adoption of advanced technology, presence of leading market players, cheap labor, and favorable conditions. For example, China’s wastewater treatment industry is developing at a faster pace due to the demand for industrial and commercial water scarcity. Such factors are presenting lucrative opportunities for the overall growth of the persulfates industry.
On the other hand, the growth in the electronics industry across the Asia-pacific region is also rising because of the established producers of electronics. The Indian electronics industry is expected to have a market value of over USD 400 billion by the year 2025. These factors are considered as the major market drivers of persulfates market growth.
In the year 2020, one of the leading market players, Evonik had an acquisition with peroxy chem, where peroxy chem is one of the leading manufacturers of hydrogen peroxide, peracetic acid which values over USD 625 million.
In the year 2019, one of the leading market players, United Initiators had completed their expansion of sodium persulfate where they are now capable of expanding over 10 kilotons for sodium persulfate in production.
This report has covered:
Based on Type:
Based on Application:
Based on End-user Industry:
|Market Size||2030: Significant Value|
|CAGR||Substantial CAGR (2021-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, application|
|Geographies Covered||Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.|
|Key Vendors||PeoxyChem. (U.S.), United Initiators (Germany), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), Ak-Kim Kimya (Turkey), Fujian ZhanHua Chemical Co., Ltd. (China), LANXESS (Germany), Stars Chemical (YongAn) Co., Ltd. (China), Adeka Corporation (Japan), Hebei Jiheng Group Co., Ltd (China), Vr Persulfates Private Limited (India), Hebei Yatai Electrochemistry Co., Ltd. (China), Ansin Chemical (Shanghai) Co., Ltd. (China), Powder Pack Chem. (India), CHEMetrics, Inc. (U.S.), and Merck KGaA (Germany)|
|Key Market Opportunities||Many of the key players are adopting strategies such as capacity expansion, merger & acquisition, process upgradation, and new product launch are also likely to support the market growth|
|Key Market Drivers||The rising demand for persulfates across different end-use markets|
Frequently Asked Questions (FAQ) :
The large demand from end-use industries such as cosmetics is the biggest driver of the global persulfates market.
Logistic issues due to the highly reactive nature of persulfates is the biggest obstacle of the global persulfates market.
Ammonium persulfates occupies the biggest share by ‘type’ within the global persulfates market.
The APAC is predicted to be the largest region in the global persulfates market due to robust and continuous industrialization.
Hebei Jiheng Group Co., Ltd, Ak-Kim Kimya, Fujian ZhanHua Chemical Co., Ltd., Vr Persulfates Private Limited, CHEMetrics, Inc., Hebei Yatai Electrochemistry Co., Ltd., LANXESS, United Initiators, Stars Chemical (YongAn) Co., Ltd., Ansin Chemical (Shanghai) Co., Ltd., Merck KGaA, PeoxyChem, Powder Pack Chem., Adeka Corporation, and MITSUBISHI GAS CHEMICAL COMPANY, INC., are the names of the global persulfates market.
The market value of persulfates was at USD 615.99 million in the year 2020 and it is expected to surpass the market value of over USD 965.65 million by the year 2028 while registering a CAGR of 5.75% during the forecast period.