The global persulfates market is expected to be worth US$ 869.7 Million in 2023, and it is anticipated to increase at a compound annual growth rate (CAGR) of 3.7% between 2023 and 2033. This is due to increased consumption of persulfates from major end-use industries such as polymers and electronics.
The rising demand for persulfates in the electronics sector, as well as growing preference in the paper, pulp, and textile industries, are predicted to propel the market. The ease of regulations in 2021 inspired industrial production operations such as electronics, polymers, and others. This, in turn, has ramped up the persulfates market’s growth. The advancement of the electrical and electronics industries, as well as the increased efficiency of polymers, will drive the persulfates revenue potential in the coming years.
In terms of size, the US electronics market is the biggest in the world. It is anticipated to remain the market leader during the projected timeframe, owing to the use of sophisticated technology, a rise in the number of R&D centers, and rising consumer demand. Therefore, this factor will generate major revenue for the market in North America. The existence of a substantial number of plastic manufacturing sectors in countries such as China, Indonesia, and Malaysia is credited with the development.
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Key Takeaways from the Market Study
- Asia Pacific has emerged as the dominant region, accounting for more than 45.5% of revenue in 2021
- In 2022, the polymers segment led the market, accounting for more than 51% of total revenue
- In 2021, the ammonium segment dominated the industry with overall revenue of more than 50.5%
- Over the forthcoming years, North America is expected to grow at a revenue-based CAGR of 3.8%
- As reported by the Chemicals and Petrochemicals Manufacturers’ Association (CPMA), polymer production in India was 12.35 million tons in 2020 and 13.54 million tonnes in 2021.
“The market size is attributed to rising persulfate consumption from major end-use industry segments such as polymers and the electronics industry” says an analyst at Future Market Insights.
Key Market Players
Key players in the persulfates market are Evonik Active Oxygens; RheinPerChemie; UI VR Persulfates; MITSUBISHI GAS CHEMICAL COMPANY, INC.; Fujian ZhanHua Chemical Co., Ltd.; Ak-Kim; Yatai Electrochemistry Co. Ltd.; Hebei Jiheng Group; Fujian Jianou Yongsheng Industry; San Yuan Chemical Co., Ltd.
- Evonik Industries AG announced the successful completion of its procurement of PeroxyChem in February 2020.
- Calibre Chemicals, an Indian specialty chemicals company, acquired RheinPerChemie GmbH from Evonik in September 2022.
- Everstone Capital, a Singapore-based firm, announced the acquisition of a majority stake in Calibre, a persulfate producer, in August 2021. With the help of Everstone’s substantial and strategic resources, this collaboration aims to transform Calibre from a family-owned company into a global manufacturer.
- United Initiator, an international persulfate manufacturer, launched its sodium persulfate plant in Huaibei, China, in October 2019. This new plant has a production capacity of 10,000 tons per year.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global persulfates market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of Type (Ammonium, Sodium, Potassium), By End-use (Polymers, Electronics, Oil & Gas), & Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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