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Persulfates Market Size - By Type (Sodium Persulfate, Potassium Persulfate, Ammonium Persulfate), By Application (Polymer Initiator, Enhanced Oil Recovery, Oxidation, Bleaching, Sizing Agent), By End-User Industry & Forecast, 2024 – 2032
Report ID: GMI8391
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Published Date: March 2024
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Report Format: PDF
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Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 250
Countries covered: 22
Pages: 300
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Persulfates Market Size
Persulfates Market was valued at around USD 869.7 million in 2023 and is projected to witness more than 3.7% CAGR from 2024 to 2032, driven by diverse industrial applications. Persulfates, including ammonium, potassium, and sodium persulfates, are widely utilized as initiators for polymerization reactions in industries such as plastics, adhesives, and coatings. Their role in the electronics industry, particularly in the etching of printed circuit boards, has also contributed to market expansion. Additionally, persulfates find application in the cosmetics and personal care sector as hair bleaching agents.
The increasing demand for polymers and plastics, coupled with the expanding electronics and personal care industries, was fueling the market growth. Environmental concerns and regulatory trends promoting the use of eco-friendly products have led to a shift towards sustainable alternatives, which may impact the market dynamics. Moreover, the market is influenced by factors like raw material costs, technological advancements, and geopolitical considerations.
Persulfates Market Trends
The increasing emphasis on sustainability and environmental responsibility. As environmental concerns gain prominence, there is a growing shift towards the development and adoption of eco-friendly alternatives in the chemical industry, impacting the use of persulfates. Additionally, advancements in technology and research are driving innovation. Companies are investing in research and development to enhance the efficiency and environmental performance of persulfates, ensuring they align with stringent regulations and market demands.
The market is also witnessing a surge in demand from emerging economies where industrialization and manufacturing activities are on the rise. The electronics and personal care sectors continue to be significant contributors to the growth, with the demand for persulfates in applications like circuit board etching and hair bleaching showing sustained momentum. To stay competitive, industry players are likely to focus on sustainability, innovation, and strategic collaborations, navigating challenges to capitalize on emerging opportunities in the evolving market.
Persulfates Market Analysis
Based on type, the sodium persulfate segment held around 64.6% of the market share in 2023. Potassium persulfate, known for its role in various industrial processes such as polymer manufacturing and cosmetics, also commanded a notable market share. Ammonium persulfate, with applications in industries like textiles and cosmetics, contributed to the overall market dynamics. The distribution of market share among these types often depended on factors like regional demand, specific industry requirements, and technological preferences. Market players typically strategized to enhance their product offerings, maintain quality standards, and meet evolving regulatory norms to secure and expand their respective market shares.
Based on application, polymer initiator segment accounted for over 34.6% share of the persulfates market in 2023, owing to the integral role of persulfates as initiators in polymerization reactions, especially in the production of plastics, adhesives, and coatings. Enhanced oil recovery is another significant application, leveraging persulfates' oxidizing properties to improve oil extraction efficiency. Oxidation processes, spanning water treatment and chemical synthesis, also contribute significantly to the market share as persulfates find use in breaking down organic compounds.
Bleaching applications, particularly in the cosmetics and personal care industry where persulfates are utilized as hair bleaching agents, constitute a notable portion of the market share. Sizing agents in the textile industry and other diverse applications add to the overall market dynamics. The distribution of market share among these applications depends on industrial trends, regulatory requirements, and regional demands.
Based on end use, the polymers segment held approximately 23.6% share of the market in 2023, driven by their crucial role as initiators in polymerization reactions, impacting the production of plastics, adhesives, and coatings. The pulp and paper industry follows closely, utilizing persulfates in bleaching processes to enhance paper quality. Textile applications, where persulfates act as sizing agents, contribute to the persulfates market share.
Cosmetics and personal care industries leverage persulfates as hair bleaching agents, accounting for a noteworthy market share. Oil and gas applications, particularly enhanced oil recovery, showcase the oxidizing capabilities of persulfates and contribute significantly to the market. Water treatment and soil remediation applications, driven by persulfates' oxidative properties in breaking down contaminants, also play a vital role in the market share distribution. The diverse range of end-use applications underscores the versatility of persulfates, and companies strategically position themselves to cater to these varied industries, ensuring a balanced market share portfolio.
The North American region, with a focus on the U.S., held a significant market share of 40.7% in 2023, driven by a strong presence in key industries such as polymers, electronics, and oil and gas. The demand for persulfates in the U.S. is notably influenced by the thriving polymer industry, where these chemicals serve as crucial initiators in various manufacturing processes. Additionally, the electronics sector contributes to the market share, with persulfates finding extensive use in printed circuit board etching applications.
The oil and gas industry, specifically in enhanced oil recovery processes, further propels the market in the U.S. Water treatment applications, driven by environmental regulations and concerns, also contribute to the overall market share. The region's commitment to technological innovation and sustainability aligns with the versatile applications of persulfates, making it a key market for manufacturers.
Persulfates Market Share
The competitive landscape of the Persulfates industry, featuring major players such as PeroxyChem, United Initiators, Ak-Kim Kimya, Fujian ZhanHua Chemical Co., Ltd., Adeka Corporation. Reflects a moderately concentrated market with notable initiatives driving competition. While these companies contribute significantly to the industry's dynamics, there is still a degree of fragmentation with diverse product offerings and market shares. Competitive approaches among these key players encompass a mix of pricing strategies, distribution network strength, and continuous product innovation. Pricing remains a crucial aspect, with companies strategically positioning their Persulfates products to attract a broad customer base. Distribution channels play a vital role, particularly for global players leveraging extensive networks to ensure widespread availability of their products.
Persulfates Market Companies
Major players operating in the persulfates industry include:
Persulfates Industry News
On February 2020, Evonik said it will close its acquisition of the U.S. company PeroxyChem after the responsible court in Washington D.C. dismissed a lawsuit filed by the Federal Trade Commission (FTC) seeking to block the acquisition. The acquisition unlocks additional growth opportunities for us, especially in the market for environmentally friendly disinfectants," Christian Kullmann, chairman of Evonik's executive board.
This persulfates market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Kilo Tons) from 2018 to 2032, for the following segments:
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Market, By Type
Market, By Application
Market, By End use
The above information is provided for the following regions and countries: