Persulfate Market Analysis, Growth, and Forecast Report
Global persulfate
market is expected to grow at a significant CAGR in
the upcoming period as the scope and its applications are rising enormously
across the globe. Persulfate, also termed as peroxodisulfate or peroxysulfate,
is one of the strongest oxidants and used as polymerization initiators in the
plastic industry as a desizing agent or etchants. It has an excellent shelf
life when stored appropriately, and is economical to use.
The factors that are playing a major role in
the growth of market are growing demand from end-use industries and rising use
of persulfate in cosmetics. However, storage and transportation issues may
restrain overall market growth in the years to come. Persulfate market is
segmented based on type, application, and region.
Ammonium persulfate, sodium persulfate,
potassium persulfate, and the other types could be explored in persulfate in
the forecast period. Ammonium persulfate segment accounted for the substantial
market share in terms of volume and is estimated to lead the overall market in
the years to come. The reason could be the rising demand from several end-use
applications like polymers and electronics. It is a white crystalline solid and
a strong oxidizing agent. It does not burn readily but may cause a spontaneous
explosion of organic materials. It is exclusively used as a food preservative
and as a bleaching agent.
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The market may be categorized based on
applications like polymers, electronics, cosmetics & personal care, pulp,
paper and textiles, water treatment, and others that could be explored in the
forecast period. The others sector comprises adhesive, gas and oil production,
inks, pigments, and dispersants, mining, and peroxymonosulfate, photography.
Polymers sector accounted for the substantial market share of persulfate and is
estimated to lead the overall market in the years to come. In addition, pulp,
paper, and textiles sector is estimated to grow at the fastest pace in the
years to come. Pulp and Paper – persulfates are used in the sizing of paper,
preparation of binders and coatings, and production of special papers.
Globally, Asia Pacific accounted for
the substantial market share of persulfate and is estimated to lead the overall
market in the years to come. The reason behind the overall market growth could
be the presence of key manufacturers in the region and growing demand from
developing countries. The developing countries like India and China are the
major consumers of persulfate in this region.
China is leading in terms of demand
due to a government initiative to be a net exporter of polymer-based products.
Whereas, India has the highest growth rate among the developing countries, and
the mounting disposable income of its population has allowed people to shift
toward the polymer-based products.
The key players of persulfate market
are Fujian Zhanua Chemical Company Limited, Mitsubishi Gas Chemical Company
Incorporation, VR Persulfates, E.I. Du Pont de Nemours & Company, Hebei
Jiheng Group Company Limited, Adeka Corporation, Hebei Yatai Electrochemistry
Company Limited, Ak-kimKimya, Proxychem, and United Initiators. These players
are concentrating on inorganic growth to sustain themselves amidst fierce
competition.
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