The global persulfates market is expected to be worth USD 869.7 Million in 2023, and it is anticipated to increase at a compound annual growth rate (CAGR) of 3.7% between 2023 and 2033. This is due to increased consumption of persulfates from major end-use industries such as polymers and electronics.
Persulfates are employed as innovators in the polymerization of synthetic rubber and latex. In the semiconductor industry, sodium persulfate is regarded as an effective micro etchant for the production of printed circuit boards. Persulfates are an important component in many industrial operations. They're used to make acrylics, neoprene, polyvinyl chlorides, and polystyrenes. Persulfate induction is used in the production of latex polymers used in coatings, paints, and carpet backing. Also, Persulfate-based advanced oxidation processes hold great potential for environmental remediation.
The rising demand for persulfates in the electronics sector, as well as growing preference in the paper, pulp, and textile industries, are predicted to propel the market. The ease of regulations in 2021 inspired industrial production operations such as electronics, polymers, and others. This, in turn, has ramped up the persulfates market’s growth. The advancement of the electrical and electronics industries, as well as the increased efficiency of polymers, will drive the persulfates revenue potential in the coming years. Considering the aforementioned facts and figures, the market is projected to exhibit a good rate of growth.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 869.7 Million |
| Anticipated Forecast Value (2033) | USD 1,250 Million |
| Projected Growth Rate (2023 to 2033) | 3.7% CAGR |
Over the historical period, the COVID-19 pandemic influenced metal production because mining was halted due to quarantine regulations and worker protections. The coronavirus pandemic has had a substantial impact on the electronics sector, disrupting the distribution network of electronic components. Furthermore, COVID-19 had an adverse influence on the oil and gas industry, where persulfates are used as gel breakers, as popularity reduced.
In the coming decades, market growth will be enabled by continuous research and development for the innovation of Persulfates. Over the forecast timeframe, market growth will be driven by the increasing use of Persulfates as a peroxymonosulfate in water treatment developments. (2023 to 2033).
During the forthcoming years, the market is anticipated to be propelled by increasing demands for persulfates in the electronics industry to be utilized in the cleaning and etching of printed wiring substrates. As, persulfates are utilized for surface cleaning of metals such as brass, copper, nickel, aluminum, zinc, and titanium which is estimated to raise demand and spur the market for persulfates.
Burgeoning Wastewater Treatment Projects are propelling the market growth
Persulfates are employed by the water treatment sector to treat contaminants such as halogenated olefins, perfluorinated substances, phenols, pharmaceutical drugs, inorganics, and others. The global rise in wastewater management initiatives is promoting the expansion of the water treatment market.
The Philippines Aglipay Sewage Treatment Plant in Mandaluyong, for example, started construction in 2020. In order to reduce adverse effects on Manila Bay and the Pasig River, including its environmental footprint, it will consistently meet federal guidelines that exceed EU requirements.
The venture is currently under construction, with an anticipated completion date of early 2024. Besides that, work on the New Upper Thompson Sanitation District Wastewater Treatment Facility,a future production wastewater treatment project will begin in the United States by 2023. Such projects are growing rapidly for persulfates and, as a result, cruising sales growth.
Increasing polymers Production is Soaring the market growth
Potassium Persulfate is used as a polymerization initiator in the creation of a variety of polymers, including vinyl, neoprene, and others. Factors such as rising consumption from the packaging industry boost growth from transportation to ensure excellent durability and flexibility, among others. These aspects are hastening the expansion of the polymers industry.
As reported by the Chemicals and Petrochemicals Manufacturers' Association (CPMA), polymer production in India was 12.35 million tons in 2020 and 13.54 million tonnes in 2021, a 9.63% increase. As a result, rising polymer production is driving up supply for persulfates, ramping up market growth.
Persulfate-related health concerns pose a market challenge
Because of the health risks associated with the use of persulfates, there are various restrictions imposed on their usage. For example, the New Jersey Department of Health and Senior Services has classified sodium persulfates as a hazardous substance since they can induce eye, nose, and skin irritation as well as respiratory issues.
Furthermore, raw materials utilized in the production of persulfates, such as persulfuric acid, have negative health impacts. As a consequence, the aforementioned medical problems associated with the use of persulfates may limit the persulfates industry's growth during the predicted forecast period.
The presence of several leading manufacturers in the plastics industry drives the market
Over the forthcoming years, North America is expected to grow at a revenue-based CAGR of 3.8%. This is due to the existence of several key manufacturers in the plastic industry in the USA, including ExxonMobil Chemical Division and DoW Chemical. The plastics industry is the nation's third-largest manufacturing sector. High-density polyethylene, low-density polyethylene, and linear low-density polyethylene are a few of the most widely produced polymers in the USA.
In terms of size, the USA electronics market is the biggest in the world. It is anticipated to remain the market leader during the projected timeframe, owing to the use of sophisticated technology, a rise in the number of Research and Development centers, and rising consumer demand. Therefore, this factor will generate major revenue for the market in North America.
Changing fashion and lifestyle trends are spurring industry growth
Asia Pacific has emerged as the dominant region, accounting for more than 45.5% of revenue in 2021. The existence of a substantial number of plastic manufacturing sectors in countries such as China, Indonesia, and Malaysia is credited with the development. Thailand's plastic production industry has expanded quickly in recent years, with approximately 5,000-5500 organizations.
Furthermore, evolving fashion and lifestyle trends may encourage the growth of hair dyes, and thus persulfates, due to their use in hair bleaches and color correctors to decolorize hair by oxidizing colors present in the hair shaft. During the forecast years, the Asia-Pacific hair color market is expected to grow at a CAGR of more than 6.1%, which may augment the persulfates market.
Furthermore, China is home to some of the world's largest electronic manufacturing firms, including Lenovo, BOE Technology, and Huawei. As a consequence, an increment in the Chinese electronics market will strengthen the Asia Pacific persulfate market over the next decade.
As initiators, the use of multiple persulfates is influencing segment growth
In 2022, the polymers segment led the market, accounting for more than 51% of total revenue. This is due to the utilization of all three persulfates as innovators in emulsion polymerization reactions for the manufacturing of polystyrenes, polyvinyl chlorides, neoprene, and acrylics. The product is also employed as an inducer in concrete formulations and for the polymeric sealant of graphite microfibrils.
The ammonium segment is extensively used in treating Wastewater
In 2021, the ammonium segment dominated the industry with overall revenue of 50.5%. The broad range of uses for ammonium persulfate, including the diagnosis of metal surfaces, the producers of semiconductors, and the etching of copper on printed circuit boards, is credited with the expansion. It is also widely used throughout wastewater treatment and as a precursor for the polymerization of acrylic monomers in emulsions.
Key players in the Persulfates market are Evonik Active Oxygens; RheinPerChemie; UI VR Persulfates; MITSUBISHI GAS CHEMICAL COMPANY, INC.; Fujian ZhanHua Chemical Co., Ltd.; Ak-Kim; Yatai Electrochemistry Co. Ltd.; Hebei Jiheng Group; Fujian Jianou Yongsheng Industry; San Yuan Chemical Co., Ltd.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 869.7 Million |
| Market Value in 2033 | USD 1,250 Million |
| Growth Rate | CAGR of 3.7% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, End Use, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa(MEA) |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Evonik Active Oxygens; RheinPerChemie; UI VR Persulfates; Mitsubishi Gas Chemical Company Inc.; Fujian ZhanHua Chemical Co., Ltd.; Ak-Kim; Yatai Electrochemistry Co. Ltd.; Hebei Jiheng Group; Fujian Jianou Yongsheng Industry; San Yuan Chemical Co., Ltd. |
| Customization | Available Upon Request |
FMI projects the global Persulfates market to expand at a 3.7% value CAGR by 2033.
The global Persulfates market is estimated at a market value of USD 869.7 million.
The global Persulfates market is expected to garner a market value of USD 1,250 Million.
FMI has projected Asia Pacific to be one of the key regions for the Persulfates market.
Evonik Active Oxygens; RheinPerChemie; UI VR Persulfates; MITSUBISHI GAS CHEMICAL COMPANY, INC.; Fujian ZhanHua Chemical Co., Ltd.; Ak-Kim; Yatai Electrochemistry Co. Ltd.; Hebei Jiheng Group; Fujian Jianou Yongsheng Industry; San Yuan Chemical Co., Ltd.
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Persulfates Market
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