Persulfates Market

The rising demand for persulfates across different end-use markets will drive market growth.

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.

Additionally, the increasing utilization of 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 Global Persulfates Market Industry is experiencing a notable surge in demand due to the increasing utilization of persulfates in cosmetics and personal care products. These compounds serve as effective oxidizing agents in formulations, enhancing the stability and performance of various products. As consumers become more conscious of product quality, manufacturers are likely to incorporate persulfates to meet these expectations. The market is projected to reach 0.84 USD Billion in 2024, reflecting a growing trend towards high-quality cosmetic formulations. This demand is anticipated to continue, driven by the expanding beauty industry and the need for innovative product development.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific dominates the persulfates market on the back of the large consumption of plastics, electronics, and cosmetics & personal care industry. China, South Korea, Taiwan, Japan, Thailand, and India are amongst the top consumers of persulfates in the region. The United States drives the demand in the North America region. The implementation of stringent health and safety regulations in the cosmetic industry may impact the adoption and usage of persulfates in cosmetic products in the region.

The market in Europe is expected to witness slow growth on the back of a possible ban on persulfates for use in cosmetics.

Figure 3: PERSULFATES MARKET SHARE BY REGION 2022 (%)Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

The European Union has voted out to completely ban single-use plastics by 2021, which will severely impact the persulfates market as these are used as polymerization initiators in the plastics industry and specifically plastics such as polystyrene that are exposed to the risk of ban. The oil & gas and plastics industry in the Middle East & Africa region drives the demand for persulfates in the region. However, the market is expected to witness slow to moderate growth over the forecast period due to political turbulence in the region.

Mexico & Brazil drives the persulfates market in the Latin America region. Emerging economies in the region such as Chile are expected to create new growth opportunities. However, the political & social instability in Latin America is expected to hamper the market growth over the forecast period.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Persulfates market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Persulfates industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Persulfates. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Persulfates industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Persulfates industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Persulfates market players, including Mitsubishi Gas Chemical Company (Japan), Ak-Kim Kimya (Turkey), Adeka Corporation (Japan), Fujian Zhanhua Chemicals (China), and others, are attempting to increase market demand by funding R&D initiatives.

Mitsubishi Gas Chemical Company (MGC) is a manufacturer and supplier of chemical products. It offers organic and inorganic chemicals, synthetic resins and rubber, dyes, pigments, paints, adhesives, polymers, and more. The company’s products are used in pharmaceuticals, agriculture, coating compounds, food, and other applications.

Also, Fujian ZhanHua Chemical Co., Ltd. was established in 2004, with a registered capital of 30 million yuan. Being a key enterprise of Fujian Province, the company specializes in manufacturing a series of persulfates products. It has the largest specialized industry.