Dublin, Oct. 09, 2023 (GLOBE NEWSWIRE) — The "Persulfates Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Ammonium Persulfate, Sodium Persulfate, Potassium Persulfate and Magnesium Persulfate), By End User, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
The global Persulfates market is poised for significant growth, driven by increasing demand from diverse end-use industries. An illustrative indicator of this upward trajectory is the remarkable revenue generated by consumer electronics in China, exceeding USD 145 billion in 2020, marking a substantial increase from the previous year.
Persulfates are inorganic salts that contain the potent persulfate anion (S2O8^2-). These water-soluble compounds are typically available in the form of white crystalline powder. The persulfate anion is known for its robust oxidizing capabilities, rendering persulfates invaluable in industrial processes that necessitate strong oxidizing agents. Broadly categorized into potassium persulfate (K2S2O8), ammonium persulfate ((NH4)2S2O8), and sodium persulfate (Na2S2O8), persulfates find application across various sectors, including cosmetics, pharmaceuticals, and electronics. These compounds are widely acknowledged for their potent oxidizing properties and their role as crucial oxidizing agents in a multitude of chemical reactions.
While persulfates offer versatility and significant utility in various industries, it is imperative to handle them with care due to their potential hazards. Comprehensive knowledge of persulfates, including their properties, applications, and safety considerations, is essential for safe and effective utilization in industrial processes.
The Persulfates market has witnessed consistent growth in recent years, primarily fueled by the escalating demand from industries such as electronics, water treatment, and cosmetics. In the electronics sector, Persulfates play a pivotal role as etching agents for printed circuit boards, essential components in devices like smartphones, tablets, and laptops. The surging demand for electronic devices directly translates to an increased requirement for Persulfates. Moreover, the adoption of advanced technologies like 5G and artificial intelligence further contributes to the demand for Persulfates in the electronics industry.
Persulfates are integral to water treatment processes, where they effectively eliminate impurities, ensuring the safety of water for diverse industrial applications. The global need for clean and safe water is a significant driver for the Persulfates market, and with the growing world population and industrialization, the demand for clean water is set to escalate, further propelling market growth.
The Persulfates market is anticipated to continue its growth trajectory in the coming years, driven by expanding demand across various industries. The cosmetics industry, in particular, is expected to be a significant growth driver, driven by the rising popularity of hair coloring and styling products.
Increasing Demand for Water Treatment and Electronics Drives Market Growth
The electronics sector stands as a major consumer of Persulfates. These compounds serve as vital etching agents for printed circuit boards, playing an indispensable role in the production of electronic devices like smartphones, tablets, and laptops. The increasing demand for electronic devices, driven by technological advancements and consumer preferences, directly translates into heightened demand for Persulfates in the electronics industry.
Persulfates find extensive application in water treatment processes, where they serve to remove impurities and contaminants, rendering water safe for use across various industries. The ever-growing need for clean and safe water, attributable to global population growth and industrial expansion, is a key driver for the demand for Persulfates in the water treatment industry.
Increasing Demand from Various Other Industries Drives Market Growth
Persulfates also cater to the needs of several other industries, including textiles, plastics, and paper. In textiles, Persulfates are employed as bleaching agents for fabrics, contributing to color removal and product quality. In plastics, Persulfates function as initiators for the polymerization of monomers, facilitating the production of various plastic products. In the paper industry, they act as oxidizing agents for pulp bleaching, enhancing the quality and appearance of paper products. The rising demand from these industries significantly contributes to the overall growth of the Persulfates market.
The cosmetics industry presents another significant avenue for the utilization of Persulfates. These compounds are employed in hair dyes and bleaches, aligning with the increasing trend of hair coloring and styling products. Factors such as rising disposable incomes and evolving lifestyles are driving the demand for hair care and styling products, thereby fueling the growth of the Persulfates market within the cosmetics industry.
Major Challenges Faced by Persulfates Market
Despite its growth prospects, the Persulfates market faces notable challenges. Environmental concerns surrounding the use of Persulfates, including air pollution and their contribution to acid rain formation, have led to heightened regulation and scrutiny. These environmental considerations may impede market growth, necessitating sustainable practices and regulatory compliance.
The Persulfates market is characterized by intense competition, with numerous players vying for market share. Competitive pressures have led to price wars, which may negatively impact market growth. Additionally, the entry of new competitors could disrupt the market dynamics and challenge the positions of established players.
Persulfates can pose health risks, including skin irritation, respiratory issues, and eye damage. These health concerns have resulted in increased regulation in the cosmetics industry, where Persulfates are employed in hair dyes and bleaches. Moreover, links between Persulfate use and an elevated risk of cancer have been studied, potentially affecting demand in the cosmetics sector.
Recent Trends and Developments
Sustainability has emerged as a significant focus in the Persulfates market in recent years. Increasing environmental concerns and the imperative to reduce carbon footprints have prompted many companies to adopt sustainable production practices. Initiatives encompass renewable energy sources and waste reduction measures, aligning with sustainability goals.
The market has witnessed merger and acquisition activities, with notable instances such as PeroxyChem's acquisition by Evonik Industries in 2020. This acquisition expanded Evonik's product portfolio in the specialty chemicals sector, including Persulfates.
The water treatment sector has been a key driver of Persulfates market growth. To meet the escalating demand from this industry, several companies have expanded their production capacities, reinforcing their commitment to serving the growing need for clean water.
Key players in the Global Persulfates market include Evonik Industries AG, Mitsubishi Gas Chemical Company, Adeka Corporation, Merck KGaA, Lanxess AG, Du Pont De Nemours and Company, Vitracoat, Inc., ASV Multichemie Private Limited, GMM Coatings Private Limited, and IKV Tribology Ltd., among others.
This report encompasses the global Persulfates market and is segmented into the following categories:
Persulfates Market, By Type:
Persulfates Market, By End User:
Cosmetics & Personal Care
Pulp Paper & Textiles
Persulfates Market, By Region:
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/3pgdij
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