Persulfates Market is anticipated to grow at a CAGR of 2.2% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Persulfates Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global persulfates market is anticipated to grow at a CAGR of 2.2% from 2020 to 2030.
The significant growth of the market can be attributed to the high demand forpersulfates across industries. Persulfates are majorly used for polymerization reactions in the preparationof neoprene, acrylics, polystyrenes, and polyvinyl chlorides as initiators. Additionally, they are used in chemical grout systems as curing agents for soil stabilization. Furthermore, in the electronics industry, the iroxidizing power is utilized for micro-etching and cleaning printed circuit board substrates. In the cosmetic industry, it finds applications in hair bleaches and lightener products. Also, in the oil &gas industry, persulfates are used in down hole for gel-forming and breaking. Furthermore, they are used in the preparation of adhesive films and metal bonding adhesives, among others.
The growing utilization of persulfates in industries, such as water treatment and soil remediation, are further expected to supplement their demand in the coming years. For instance, the PersulfOx catalyzed persulfate from REGENESIS is a patented sodium persulfate based In-Situ Chemical Oxidation (ISCO) reagent aimed specifically toward ground water & soil remediation at contaminated sites. Furthermore, the rising demand from developing countries, such as Brazil, Mexico, South Africa, Thailand, Indonesia, and other South-East Asian countries, will boost the demand in the coming years.
However, the price volatility of persulfates will prove to be a major barrier to market growth. Additionally, the economic slowdown of industries owing to the outbreak of COVID-19 may act as a market challenge and impact the production &supply of persulfates in the coming years.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Persulfates Market by Type(Ammonium, Potassium, and Sodium), By End-Use Industry (Plastic, Textile, Healthcare, Beauty &Personal Care, Adhesive and Sealant, Chemical, and Water Treatment)- Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/persulfates-market/290
Asia Pacific stands to be the largest market for persulfates owing to their heavy utilizationin plastics, beauty &personal care, adhesives & sealants, chemicals, and others. China stands to be the largest market for persulfates owing to its high domestic demand across different industries. Additionally, the country is also the largest producer and exporter of persulfates owing to the presence of key manufacturers operating at high production capacities. According to data published by theU.S. International Trade Commission, in 2018, China exported 100, 015 (1000 pounds) of persulfates, capturing a market share of around 36% of the global persulfate exports. Furthermore, the growing demand of persulfates from other countries of the APAC region, such as Indonesia, Thailand, and Taiwan, will further boost the demand in the coming years.
Some of the prominent players in the global persulfates market are PeroxyChem (Evonik Industries), United Initiators, Fujian ZhanHua Chemical Co., Ltd., Yatai Electrochemistry Co., Ltd., MITSUBISHI GAS CHEMICAL COMPANY, INC., Hebei Jiheng Group Co., Ltd, ADEKA CORPORATION, Shanghai Ansin Chemical Co., Ltd, ABC Chemicals(Shanghai)Co., Ltd., and Ak-Kim Kimya, among others.