New York, USA, Aug. 29, 2022 (GLOBE NEWSWIRE) -- Persulfates Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Persulfates Market Information by Types, Applications And Region - Forecast till 2030”, the market is estimated to grow at a CAGR of 5.75% to reach USD 965.65 Million by 2030.
Market Synopsis
The chemically active parts of active peroxygenase, which have a wide range of applications, are called persulfates. The production of plastics, rubber, and emulsion polymerization depends on persulfates, considered essential ingredients. They are curing agents and can stabilize the soil next to buildings, protecting them and other structures. Additionally, persulfates are utilized as oxidizing agents. They are employed in various end-user industries, including oil and gas, textiles, electronics and electronics, cosmetics and skincare, and several others, because they have a wide range of uses. In the pharmaceutical sector, persulfates are used as reagents, particularly for carboxylic acids, ketones, antibiotics, quinones, and other compounds. As a result, the expansion of the persulfates market is being driven by the rise in the pharmaceutical industry.
The persulfates industry has recently seen growth driven by changing attitudes and an expanding population. Oxosulfate anions are present in a class of substances known as persulfates. These are typically solid at room temperature and poisonous in nature. The global market for persulfates is dominated by ammonium, potassium, and sodium persulfates. These substances are widely utilized as etching and cleaning agents in the electrical and electronic industry and polymerization initiators in the plastics business. One of the most chemically active peroxygens with significant applicability in various applications is persulfates. As they are employed as initiators for emulsion polymerization reactions to create polyvinyl chlorides, neoprene, and acrylics, persulfates have become a significant component in plastics and rubber. In particular, ammonium persulfate has gained acceptance as a curing agent for soil stabilization close to structures, tunnels, and dams.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 965.65 Million |
| CAGR | 5.75% (2021–2030) |
| Base Year | 2020 |
| Forecast Period | 2021–2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Types, Applications And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The increasing growth in the industrial verticals is propelling the overall growth |
| Sodium persulfates are considered the key component in the pharmaceutical industry |
Market Competitive Landscape:
The eminent contenders in the persulfates market are:
- Mitsubishi Gas Chemical Company (Japan)
- Evonik Industries AG
- United Initiators
- Peroxy Chem
- Ak-Kim Kimya (Turkey)
- Adeka Corporation (Japan)
- Fujian Zhanhua Chemicals (China)
Market U.S.P. Covered:
Market Drivers:
All around the world, there is an increasing demand for plastics. Persulfates are frequently used as polymerization initiators in the plastics sector because of their potent ability to produce free radicals. It plays a crucial role in manufacturing resins such as neoprene, acrylics, styrene-butadiene, and styrene. Additionally, it is an etchant when printed circuit boards (PCBs) are made in the electronics sector. Also, it serves as an enhancer in hair dyes, bleaching formulas, and other cosmetic items.
Brass, copper, nickel, and aluminum are some industrial metals cleaned with persulfates. Due to their effectiveness, coatings are created after cleaning procedures. As a result, the persulfates sector has generally been expanding in recent years due to increased industrial verticals. The potential properties of various persulfates are utilized in various applications, fostering the industry's overall growth. Additionally, persulfates can degrade the harmful chemicals in wastewater and remove them. These applications for water purification have become increasingly important in recent years.
Market Restraints:
Due to its hazardous nature and the numerous adverse effects, users have complained about its use in cosmetics. However, it is anticipated that the allergic responses, irritability, and rhinitis linked to ammonium persulfate-based cosmetic items will partially restrain the expansion of ammonia persulfates. Persulfate compounds are hazardous to human health, so precautions must be taken when handling, storing and disposing of them. It is projected that problems with persulfites' handling, warehousing, and transportation will somewhat impede the expansion of persulfates.
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COVID 19 Analysis
The electronic component supply chain disruption caused by the coronavirus pandemic has had a significant effect on the electronics sector. COVID-19 harmed the oil and gas sector since fewer persulfates were needed to break up gels. The market is anticipated to be primarily driven by rising persulfate demand in the electronics sector and growing preference in the paper, pulp, and textile sectors over the medium term. The popularity of the internet and the good economic climate have increased the demand for gadgets. As a result, persulfates are used more frequently in the electronics sector to clean and etch printed circuit surfaces.
Market Segmentation
By Type
Ammonium to gain a massive stake in the global market.
By Application
The polymers segment will gain precedence in the forecast period.
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Regional Insights
Due to heavy usage in the plastics, semiconductors, cosmetics, and personal care industries, Asia-Pacific now has the lion's share of the worldwide persulfates market. Following the expansion of cosmetics, the Asia-Pacific persulfates market forecast will be favorable. Additionally, the demand for persulfates will increase due to increased electronics production and the presence of major corporations. Additionally, the manufacture of synthetic rubber for car and truck tires will be evident in using persulfates. In the region of North America, the demand is driven by the United States. The acceptance and use of persulfates in cosmetic products in the area may be impacted by the installation of strict health and safety laws in the cosmetic sector.
Due to a potential prohibition on using persulfates in cosmetics, the European industry is anticipated to grow slowly. The demand for persulfates in the Middle East and Africa is driven by the oil, gas, and plastics industries. However, because of the political unrest in the area, the market is predicted to grow slowly to moderately over the projected period. Mexico and Brazil drive the Latin American region's persulfates market. It is anticipated that newly developing economies in the area, like Chile, will generate fresh growth prospects.
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