Persulfates Market - Forecast(2023 - 2028)

Key Takeaways 

Asia-Pacific is the dominating region as it held the largest Persulfates Market share in 2021 up to 35.5%. The sectoral growth of Asia-Pacific economies is been fueled by the growth of various industries such as electrical & electronics, polymers and more. Factors such as government policies aiding the electronics industry, emerging economies, technological advancement and more factors are vital to the electronics industry's growth in the Asia-Pacific. For instance, according to Japan Electronics and Information Technology Industries Association (JEITA), in 2020, the total electronics production in Japan was ¥9,964,769 million (US$93,389.82 million) and in 2021, it was ¥10,954,346 million (US$99,772.18 million), an increase of 9.9%. Therefore, the growth of the electronics industry in Asia-Pacific is accelerating the demand for persulfates.

Persulfates Market Drivers 

Persulfates are utilized in the water treatment industry for the treatment of a wide variety of impurities, such as halogenated olefins, perfluorinated chemicals, phenols, pharmaceuticals, inorganics and more. The surge in wastewater treatment projects at the global level is fueling the growth of the water treatment industry. For instance, the construction of the Philippines Aglipay Sewage Treatment Plant in Mandaluyong began in 2020. It will meet stringent national standards that go beyond EU requirements in terms of reducing negative effects on Manila Bay and the Pasig River, as well as its environmental footprint. The project is currently under development, with a completion date of early 2024. Furthermore, the construction work for the future development wastewater treatment project the "New Upper Thompson Sanitation District Wastewater Treatment Facility" will begin in the U.S by 2023. Such projects are fueling the demand for persulfates, thereby, driving market growth. 

Potassium Persulfate is employed as a polymerization initiator in the manufacturing of various polymers such as vinyl, neoprene and more. The factors such as surging demand from the packaging industry enhance the demand from the transport industry to ensure superior durability & flexibility and to others. These factors are accelerating the polymers industry's growth. According to the Chemicals and Petrochemicals Manufacturers' Association (CPMA), in 2020, the production of polymers in India was 12.35 million tons and in 2021, it was 13.54, an increase of 9.63%. Thus, the surging production of polymers is fueling the demand for persulfates, which, in turn, is accelerating market growth. 

Persulfates Market Challenges 

The use of Persulfates has several health hazards, due to which there are several restrictions imposed on the use of persulfates. For instance, the New Jersey Department of Health and Senior Services has listed sodium persulfates under the hazard substance list because they can cause irritation to the eyes, nose and skin and cause breathing problems. Moreover, raw materials such as persulfuric acid which is used in the manufacturing of persulfates have adverse health impacts. Therefore, the above-mentioned health concerns associated with the use of persulfates may restrict the growth of the persulfates industry during the projected forecast period of 2022 to 2027.

Persulfates Industry Outlook 

Technology launches, acquisitions and increased R&D activities are key strategies adopted by players in the Persulfates Market. The top 10 companies in the Persulfates market are: 

Recent Developments: 

Relevant Reports 

Water Treatment Chemicals Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis 

Report Code: CMR 1157