Persulfates Market by Growth Opportunities, Recent Trends, Forecast by Types and Application to 2024
Persulfates including ammonium, sodium and potassium salts are strong oxidants available and find application as polymerization initiator in plastics industry. These products are economical to use and have high shelf life when stored appropriately. These factors are likely to boost persulfates market size by 2025.
Persulfates market size is likely to witness upward trend owing to rising demand in water treatment usage. In presence of UV radiation, the product produces powerful sulfate radicals which are effective in degradation of micro pollutants and per fluorinated compounds. These properties make it suitable for waste water management. It finds application in cleaning of swimming pools and ground water treatment which is anticipated to propel product demand.
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Persulfates market size is projected to grow owing to its application in hair bleaches and hair lighteners to decolorize hair by oxidizing colors present in hair shaft. Changing fashion trend and lifestyle will propel market growth for hair dye market projected to surpass USD 40 billion by 2023 would drive up market size. The product is also used as a reagent in pharmaceutical industry and used to prepare antibiotics, quinones, ketones, aldehydes and carboxylic acids which will further propel the overall product demand.
Persulfates market size would grow significantly owing to use in oil recovery and hydraulic fracturing during upstream oil and gas application. The products is used as a breaker which is injected with fracturing fluid or propellant to lower the viscosity after a controlled release time. This process facilitates controllable, uniform and precise discharge of hydrocarbons. Rising energy demand globally along with growing investment to explore newer hydrocarbon sources may drive market size.
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Persulfates exposure in dust form might cause irritation in throat, lungs, nose eyes and skin. Prolonged exposure may lead to breathing issues leading to asthmatic effects. These factors might adversely hamper market growth along with affecting market price trend.
North America led by Mexico, Canada and the U.S. persulfates market size should witness a significant growth during forecast period owing to growth in oil and gas sector. Planned investment of over USD 70 billion for shale exploration in the U.S. may have a positive impact on product demand owing to its extensive usage in oil & gas sector. The product is also used in hydraulic fracturing, which is the technology used for shale exploration, thereby driving market size.
Asia Pacific led by India and China persulfates market size is projected to grow significantly owing to rising demand in polymer industry. China is a major consumer of synthetic polymers used in cosmetics, water treatment, textile and paper industry, thereby driving market size.
Europe led by Italy, UK, France and Germany persulfates market size is projected to grow significantly in the projected timeframe. Changing fashion trends and lifestyle will drive regional hair dye market, which may stimulate market size.
Global persulfates market share is fragmented with major player includes Adeka Corporation, United Initiators , Fujian ZhanHua Chemical Co., Ltd. ,Ak-Kim Kimya, Lanxess, Ansin Chemical Co., Ltd., PeoxyChem, Hebei Jiheng Group Co., Ltd, Stars Chemical Co., Ltd., Mitsubishi Gas Chemical Company, Inc., Hebei Yatai Electrochemistry Co., Ltd. , Merck KGaA (Germany), Powder Pack Chem., Chemetrics Inc. , and Vr Persulfates Private Limited.
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