Persulfates Market Demand to reach US$ 869.7 Million in 2023; Market to exhibit a 3.7% CAGR until 2033: Future Market Insights, Inc. Report
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
Burgeoning Wastewater Treatment Projects are propelling the Persulfates Market growth. Asia Pacific to be one of the key regions for the Persulfates market. The presence of several leading manufacturers in the plastics industry drives the Persulfates Market
DUBAI, United Arab Emirates, Dec. 25, 2022 (GLOBE NEWSWIRE) -- The persulfates market is projected to reach US$ 869.7 million in 2023 and grow at a compound annual growth rate (CAGR) of 3.7% from 2023 to 2033. This is a result of increased persulfate usage by significant end-use sectors including electronics and plastics.
The market is expected to be driven by increased persulfate demand in the electronics industry as well as rising consumer preference in the paper, pulp, and textile industries. Electronics, polymers, and other industrial manufacturing processes were motivated by the 2021 laws' ease of application.
The market for persulfates has grown more rapidly as a result of this. The potential for persulfates to generate revenue in the upcoming years will be driven by the development of the electrical and electronic sectors as well as the improved efficiency of polymers.
The US electronics market is the largest in the world in terms of size. Due to the utilisation of advanced technology, an increase in the number of R&D facilities, and a growth in consumer demand, it is likely to maintain its position as the market leader during the anticipated timeframe.
As a result, this component will significantly increase market revenue in North America. The development is attributed to the existence of a sizable number of plastic manufacturing industries in nations like China, Indonesia, and Malaysia.
Key Takeaways from 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 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.
Key Segments Profiled in the Persulfates Market Survey
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).
About the Chemicals & Materials at Future Market Insights
The Chemicals & Materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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About Future Market Insights, Inc.
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