The SNS Insider report estimates the Persulfates Market size at USD 869.70 million in 2023, with a projected CAGR of 3.45% to reach USD 1140.81 million by 2031.
The polymer industry experiences strong growth propelled by sectors including automotive, construction, packaging, electronics, and healthcare. Polymer materials play a ubiquitous role in daily products and industrial uses, spanning from plastics and rubber to coatings and adhesives. Additionally, advancements in polymer science and technology fuel the development of new materials with enhanced properties and functionalities, thus increasing demand for polymer initiators and driving market growth. Moreover, nanotechnology facilitates the production of persulfate particles at the nanoscale, amplifying surface area and reactivity compared to conventional particles. It also enables the creation of persulfate-based nanocomposites with targeted contaminant removal capabilities, contributing to market expansion through nanotechnological advancements.
However, the production of this chemical relies on key raw materials like sulfuric acid and hydrogen peroxide. Fluctuations in the prices of these materials directly impact production costs, while unique seasonal or regional factors can exacerbate volatility in raw material prices for persulfate manufacturers, thereby impeding market growth.
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Some of the Key Players Included are:
l Mitsubishi Gas Chemical Company, Inc.
l United Initiators
l Fujian ZhanHua Chemical Co.
l Ak-Kim
l Adeka Corporation
l PeroxyChem
l Yatai Electrochemistry Co. Ltd.
l UI VR Persulfates
l RheinPerChemie
l Hebei Jiheng Group
l San Yuan Chemical Co. Ltd.
l Evonik Active Oxygens
l and other
Segment Analysis
In 2023, the ammonium segment commanded over 50% of the market share, driven by ammonium persulfate's diverse applications such as treating metal surfaces, manufacturing semiconductors, and etching copper on printed circuit boards. Additionally, it sees extensive use in wastewater treatment and as an initiator for acrylic monomer emulsion polymerization. Ammonium persulfate (APS) is widely utilized across various commercial sectors. It serves as a denim desizing agent and bleach activator in the textile industry, while in paper production, it aids in de-inking and re-pulping processes. Furthermore, APS finds application as a reagent in molecular biology and biochemistry for preparing polyacrylamide gels.
Moreover, sodium persulfate emerged as the second-largest segment in 2023. Its growth stems from its widespread use as a component in detergents and bleaching agents, particularly in hair cosmetics formulations. Additionally, sodium persulfate, with its high water solubility, is the most common persulfate used for the in situ degradation of pollutants.
By Type
l Sodium Persulfate
l Ammonium Persulfate
l Potassium Persulfate
By End-use Industry
l Polymers
l Cosmetics & Personal Care
l Pulp Paper & Textile
l Electronics
l Oil & Gas
l Water Treatment
l Soil Remediation
l Others
Competitive Insights
Major players in the market are investing heavily in research and development to diversify their product portfolios, driving further growth in the Persulfates market. These companies are also implementing various strategic initiatives to expand their global presence, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaborations with other organizations. To succeed and expand in an increasingly competitive and growing market environment, competitors in the Persulfates industry must offer cost-effective products. One of the primary business strategies employed by manufacturers in the Persulfates industry is local manufacturing to reduce operating costs, benefit customers, and expand market share.
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Recent Developments
September 2022: Mumbai-based Calibre Chemicals agreed to acquire RheinPerChemie GmbH from Evonik.
April 2022: Air Products has inked a long-term agreement to provide ultra-high purity nitrogen to a leading semiconductor manufacturer in South Korea, underscoring the escalating demand for specialty gases within the region's thriving semiconductor sector.
April 2022: Evonik's Active Oxygens business line revealed a sustainability strategy aiming for climate neutrality by 2040.
Impact of Russia-Ukraine War on Persulfates Market
The Russia-Ukraine conflict has injected considerable uncertainty into the Persulfates market. Ukraine's pivotal role in supplying raw materials like sulfuric acid and hydrogen peroxide underscores the potential for supply chain disruptions, which could trigger shortages and price volatility. Moreover, geopolitical tensions and trade disruptions may alter market dynamics, impacting trade relationships and regulatory frameworks. These factors add complexity to the market landscape, posing challenges to supply availability and pricing strategies.
Regional Analysis
Asia-Pacific is set to dominate the persulfates market in 2023, driven by increasing demand in key countries like China, India, and Japan across various sectors such as polymers, electronics, and cosmetics. The preference for polymers over metals and rising consumer appliance demand are boosting the polymer initiator sector, while persulfates' role in wastewater treatment and hair coloring applications further drives market growth. Additionally, the rapid expansion of the electronics industry in countries like India and China, supported by government policies and manufacturing initiatives, contributes to rising demand for persulfates.
Key Takeaways:
- The global persulfates market is anticipated for significant growth fueled by rising demand for polymers and plastics across multiple industries.
- Strategic partnerships, collaborations, product developments, and product launches are crucial for securing parts, components, and expertise.
- Key players in the market include Mitsubishi Gas Chemical Company, Inc., United Initiators, Fujian ZhanHua Chemical Co., Ak-Kim, Adeka Corporation, PeroxyChem, Yatai Electrochemistry Co. Ltd. And other prominent players.
- The Asia Pacific region will maintain its dominance due to the presence of numerous plastic manufacturing industries in various countries.
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