Shibuya-ku, Tokyo, Japan, Japan, May 26, 2022, 06:38 /Comserve / -- Persulfates Market size, share, growth, trends, segmentation, top key players, strategies, demand, statistics, sales, current scenario, competitive landscape and forecast.
The market for persulfates is expected to grow at a CAGR of over 3% during the forecast period. Major factors driving the market studied are increasing demand of persulfates in electronics industry and growing demand in paper, pulp & textile industry. On the flipside, issues related to storage & transportation of persulfates and unfavourable conditions arising due to COVID-19 outbreak are the major restraints which are expected to hinder the growth of market.
- Growing application of persulfates in cosmetics & personal care industry and rising demand of soil remediation techniques are expected to offer various lucrative opportunities for the growth of market.
- By End-user industry, electronics segment is expected to dominate the market owing to the increase in the usage of persulfates in printed circuit boards to remove moisture.
- Asia-Pacific region dominated the market across the globe with the largest consumption from countries such as China, India and Japan.
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Key Market Trends
Increasing Demand from Electronics Segment
- A persulfate also known as peroxysulfate, is a compound containing the anions of sulfur in normal tetrahedral geometry typical for S(VI) oxidation state. The persulfate salts are strong oxidizers.
- The growing demand of persulfates in electronics industry owing to usage in cleaning and etching of printed circuit substrates is projected to propel the persulfates market during the forecast period.
- Persulfates are used for surface cleaning of metals like brass, copper, nickel, aluminium, zinc, and titanium prior to coating, plating and adhesive bonding on electronic components, which is expected to boost the persulfates demand and stimulate its market.
- The global printed circuit boards market is expected to grow at a CAGR of over 3% during the forecast period and is projected to reach USD 70 billion by 2024 owing to rising demand in semiconductors devices, which will increase the demand of persulfates in printed circuit boards and is expected to boost the persulfates market during the forecast period.
- Owing to all the above-mentioned factors for persulfates, its market is expected to grow rapidly over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for persulfates during the forecast period. In countries like China, India and Japan owing to the increasing demand from various end-user industries such as polymer, electronics, and cosmetics & personal care, the demand for persulfates has been increasing in the region.
- Growing preference of polymers over metals and rising consumer appliances demand in the region is boosting the polymer initiator sector in the region which is stimulating the persulfates market in the region.
- Persulfates are also used for oxidative degradation of toxic substances and chemicals in waste water, which makes the water treatment process easy. Due to this, there is surge in the demand of persulfates for water treatment application.
- Additionally, changing trend of fashion and lifestyle will propel the market growth of hair dye and consequently persulfates owing to their application in hair bleaches and hair lighteners to decolorize hair by oxidizing colors present in hair shaft. The Asia-Pacific hair color market is expected to grow at a CAGR of over 11% during the forecast period, which will boost the persulfates market size.
- Furthermore, Asia-Pacific consumer electronics market was estimated at USD 227,218 million in 2020 and is projected to grow at a CAGR of over 3% during the forecast period and reach USD 262,787 million by 2024, which would increase the demand of persulfates in the region owing to their application in electronics for cleaning and etching.
- Some of the major companies operating in Asia-Pacific region are – United Initiators, MITSUBISHI GAS CHEMICAL COMPANY, INC., and ADEKA CORPORATION.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for persulfates during the forecast period.
Competitive Landscape
The persulfate market is fragmented with top players accounting for a marginal share of the market. Major companies in the market include PeroxyChem (EVONIK INDUSTRIES), United Initiators, MITSUBISHI GAS CHEMICAL COMPANY, INC., Ak-Kim Kimya, and ADEKA CORPORATION.
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1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand of Persulfates in Electronics Industry
4.1.2 Growing Demand in Paper, Pulp & Textile Industry
4.2 Restraints
4.2.1 Issues Related to Storage & Transportation of Persulfates
4.2.2 Unfavourable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Sodium Persulfate
5.1.2 Potassium Persulfate
5.1.3 Ammonium Persulfate
5.2 Application
5.2.1 Polymer Initiator
5.2.2 Enhanced Oil Recovery
5.2.3 Oxidation, Bleaching & Sizing Agent
5.2.4 Others
5.3 End-user Industry
5.3.1 Polymer
5.3.2 Pulp, Paper & Textile
5.3.3 Electronics
5.3.4 Cosmetics & Personal Care
5.3.5 Oil & Gas
5.3.6 Water Treatment
5.3.7 Soil Remediation
5.3.8 Others
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 Italy
5.4.3.4 France
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ABC Chemicals(Shanghai)Co., Ltd.
6.4.2 ADEKA CORPORATION
6.4.3 Ak-Kim Kimya
6.4.4 CHEMetrics, Inc.
6.4.5 Fujian ZhanHua Chemical Co., Ltd.
6.4.6 Hebei Jiheng Group Co.,Ltd
6.4.7 LANXESS
6.4.8 MITSUBISHI GAS CHEMICAL COMPANY, INC.
6.4.9 PeroxyChem (EVONIK INDUSTRIES)
6.4.10 POWDER PACK CHEM
6.4.11 SHAANXI BAOHUA TECHNOLOGIES CO.,LTD.
6.4.12 Shanghai Ansin Chemical Co., Ltd.
6.4.13 Stars Chemical (YongAn) Co., Ltd.
6.4.14 United Initiators
6.4.15 VR Persulfates Pvt. Ltd
6.4.16 Yatai Electrochemistry Co., Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Application of Persulfates in Cosmetics & Personal Care Industry
7.2 Rising Demand of Soil Remediation Techniques
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