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The global market has experienced significant growth, thanks to the flourishing electronics, electrical, and technology industries. Sodium persulfates, integral components in electronics, play a crucial role as efficient microetchants in the manufacturing of printed circuit boards, replacing traditional scrubbing methods. This shift towards microetchants, including sodium persulfate, has become prevalent in recent years, enhancing the production of finer features with resists.
The surge in the electronic industry within the Asia-Pacific region is a key driver for the market's substantial traction. The growing global inclination towards electronics, coupled with increased internet penetration, has propelled market growth. The escalating demand for consumer electronics, particularly in portable devices like laptops, mobile phones, and computers, is expected to drive the demand for printed circuit boards, consequently boosting the need for sodium persulfates. Notably, according to the Ministry of Electronics and Information Technology in India, smartphone production increased from 110 million in 2015 to 175 million in 2016. Similarly, the production of LCD/LED TVs reached 15 million units in 2016.
Government initiatives such as 'Make in India,' the National Policy on Electronics, and the Phased Manufacturing Programme are pivotal in driving the demand for polyurethane (PU) cast elastomers. Noteworthy investments, such as OnePlus launching smart TVs in the Indian market in September 2019 and Vivo's plan to invest USD 480 million in capacity expansion in August 2019, signal a positive trajectory for the electronics industry. Consequently, this growth is expected to drive the demand for products like sodium persulfates.
In India, the electronics market is poised for significant expansion, with the India Brand Equity Foundation projecting a Compound Annual Growth Rate (CAGR) of 41.4%, reaching a value of USD 400 billion by 2020. Additionally, the Japan Electronics and Information Technology (JEITA) estimates a 2% year-on-year increase in global electronics and information technology production in 2020, reaching USD 2,972.7 billion. This is anticipated to rise by 7% in 2021, reaching USD 3,175.6 billion.
Another aspect contributing to the growth of persulfates in the electronics industry is their role as cleaning agents. Used to clean metal surfaces like brass, copper, and aluminum before plating or adhesive bonding, persulfates also find application in cleaning and activating carbon and charcoal before and after their use as absorbents. These diverse applications are expected to drive the demand for persulfates in electronics manufacturing in the foreseeable future.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, End-use, and Region |
Persulfates Market Highlights:
Global Persulfates Market Overview
The Persulfates Market Size was valued at USD 0.81126 Billion in 2022. The Persulfates market industry is projected to grow from USD 0.82 Billion in 2023 to USD 0.96565 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.75% during the forecast period (2023 - 2030). Persulfates are the chemically active components that are active peroxygenase which is capable of serving a host of applications. Persulfates are considered a crucial component in the manufacturing of plastics, and rubber and they are also used as emulsion polymerization. They are curing agents and they are capable of stabilizing the soil near the buildings and thereby protecting the buildings and so on. The persulfates are used as oxidizing agents as well. They have a wide range of applications and are thereby used in varied end-user industries like Oil and gas, textiles, electrical and electronics, cosmetics and skincare, and significant others. The changing attitude and growing population are propelling the overall growth of the persulfates industry in recent times.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Persulfates Market Trends
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The rising demand for persulfates across different end-use markets will drive market growth.
Persulfates are used in cleaning the metals like brass, copper, nickel, and aluminum which are utilized for industrial purposes. The coatings are made after the cleaning processes because of their efficiency. Therefore, the increasing growth in the industrial verticals is propelling the overall growth of the persulfates industry in recent years.
Sodium persulfates are considered the key component in the pharmaceutical industry. The potential characteristics of varied persulfates are used in varied applications and hence promoting the overall growth of the persulfates industry. Moreover, persulfates can eliminate the toxic substances that are present in the wastewater by degradation. Such water treatment applications are getting highly essential in recent times.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Additionally, the increasing utilization of persulfates in varied end-user industries like cosmetics, personal care, and preservative agents in the food industry is expected to boost the overall growth of the persulfates industry during the forecast period. The bolstering growth of the key end-user industries and the increasing investment in persulfates are expected to stimulate the growth of persulfates during the forecast period.
The increasing inclination towards electronics and the increasing penetration of the internet across the globe are propelling the overall growth of the persulfates industry in recent times. The etching processes in the printed circuit boards are crucial and they are carried out by these persulfates. Such factors are expected to boost the overall growth of the persulfates industry during the forecast period.
Persulfates Market Segment Insights
Persulfates Type Insights
The Persulfates market segmentation, based on Type, includes Ammonium, Sodium, and Potassium. The ammonium segment dominated the market with a revenue share of over 50.0% in 2021. The growth is attributed to the wide range of applications of ammonium persulfate including the treatment of metal surfaces, manufacturing of semiconductors, and etching copper on printed circuit boards. Additionally, it is extensively used in wastewater treatment and as an initiator for the emulsion polymerization of acrylic monomers. Ammonium persulfate (APS) finds application in several commercial applications. It is used for denim desizing and bleach activators in the textile industry. In the paper industry, it is used for de-inking and re-pulping. Moreover, APS is used as a reagent in molecular biology and biochemistry for the preparation of polyacrylamide gels.
Persulfates End-use Insights
Based on End-use, the Persulfates market segmentation includes Polymers, Electronics, Oil & Gas. The polymers segment dominated the market with a revenue share of over 50.0% in 2021. This is attributed to the application of all three persulfates as initiators in emulsion polymerization reactions for the preparation of polystyrenes, polyvinyl chlorides, neoprene, and acrylics. The product is also used as an initiator in concrete formulations and for the polymeric coating of graphite filaments.
Figure 2: Persulfates Market, by Type, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Persulfates Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific dominates the persulfates market on the back of the large consumption of plastics, electronics, and cosmetics & personal care industry. China, South Korea, Taiwan, Japan, Thailand, and India are amongst the top consumers of persulfates in the region. The United States drives the demand in the North America region. The implementation of stringent health and safety regulations in the cosmetic industry may impact the adoption and usage of persulfates in cosmetic products in the region. The market in Europe is expected to witness slow growth on the back of a possible ban on persulfates for use in cosmetics.
Figure 3: PERSULFATES MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The European Union has voted out to completely ban single-use plastics by 2021, which will severely impact the persulfates market as these are used as polymerization initiators in the plastics industry and specifically plastics such as polystyrene that are exposed to the risk of ban. The oil & gas and plastics industry in the Middle East & Africa region drives the demand for persulfates in the region. However, the market is expected to witness slow to moderate growth over the forecast period due to political turbulence in the region. Mexico & Brazil drives the persulfates market in the Latin America region. Emerging economies in the region such as Chile are expected to create new growth opportunities. However, the political & social instability in Latin America is expected to hamper the market growth over the forecast period.
Persulfates Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Persulfates market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Persulfates industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Persulfates. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Persulfates industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Persulfates industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Persulfates market players, including Mitsubishi Gas Chemical Company (Japan), Ak-Kim Kimya (Turkey), Adeka Corporation (Japan), Fujian Zhanhua Chemicals (China), and others, are attempting to increase market demand by funding R&D initiatives.
Mitsubishi Gas Chemical Company (MGC) is a manufacturer and supplier of chemical products. It offers organic and inorganic chemicals, synthetic resins and rubber, dyes, pigments, paints, adhesives, polymers, and more. The company’s products are used in pharmaceuticals, agriculture, coating compounds, food, and other applications.
Also, Fujian ZhanHua Chemical Co., Ltd. was established in 2004, with a registered capital of 30 million yuan. Being a key enterprise of Fujian Province, the company specializes in manufacturing a series of persulfates products. It has the largest specialized industry.
Key Companies in the Persulfates market include
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PeoxyChem. (US)
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United Initiators (Germany)
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MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan)
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Ak-Kim Kimya (Turkey)
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Fujian ZhanHua Chemical Co., Ltd. (China)
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LANXESS (Germany)
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Stars Chemical (YongAn) Co., Ltd. (China)
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Adeka Corporation (Japan)
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Hebei Jiheng Group Co., Ltd (China)
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Vr Persulfates Private Limited (India)
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Hebei Yatai Electrochemistry Co., Ltd. (China)
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Ansin Chemical (Shanghai) Co., Ltd. (China)
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Powder Pack Chem. (India)
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CHEMetrics, Inc. (US)
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Merck KGaA (Germany).
Persulfates Industry Developments
In the year 2020, one of the leading market players, Evonik had an acquisition with peroxy chem, where peroxy chem is one of the leading manufacturers of hydrogen peroxide, peracetic acid which values at over USD 625 million.
Persulfates Market Segmentation
Persulfates Type Outlook
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Ammonium
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Sodium
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Potassium
Persulfates End-use Outlook
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Polymers
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Electronics
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Oil & Gas
Persulfates Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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