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Persulfates are a class of compounds that contain oxosulfate anions. These are generally toxic in nature and are solid at room temperature. Ammonium, potassium & sodium persulfates dominate the global persulfates market. These compounds are prominently used as polymerization initiator in the plastics industry and etching and cleaning agent in electrical & electronics industry.
The demand for plastics is continuously increasing around the world. Persulfates have effective property to generate free radicals that make it a popular choice as polymerization initiator in the plastics industry. It is significantly used in the production of plastics such as styrene, styrene-butadiene, acrylics, neoprene and other resins. Moreover, it acts as etchant in the manufacturing of printed circuit boards (PCBs) in the electronics industry. Besides, it is also used as a booster in hair bleaching formulations, dyes, and other cosmetic products.
Key Market Driver -
Staggering demand of persulfates for applications in plastics and electrical & electronics industry drives the global persulfate markets.
Key Market Restraint -
Toxic nature of persulfates restrains the market growth.
However, it is toxic in nature and many users have reported side-effects from its use in cosmetics. Recently, French Agency for Food, Environment and Occupational Health and Safety (ANES) has suggested ban on persulfates for use in cosmetics, particularly for hair colour product due to allergy risk in consumers as well as hair professionals. This is expected to restrict the market growth over the forecast period.
On the basis of type, the persulfates market is segmented into ammonium, sodium and potassium persulfates. Based on end-use industry, the market is segmented into plastics, electrical & electronics, cosmetic & personal care, paper & pulp, oil & gas, water treatment & soil remediation and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The global persulfates market is fairly consolidated with only a few key players operating in the market. Some of the prominent manufacturers in the global persulfates market include- MITSUBISHI GAS CHEMICAL COMPANY, INC., VR PERSULFATES PVT. LTD., PeroxyChem, United Initiators, Ak-Kim Kimya, ADEKA CORPORATION, Yatai Electrochemistry Co., Ltd., Hebei Jiheng Group Co., Ltd., Fujian ZhanHua Chemical Co., Ltd., YOYO Group of Companies, and others.
On a geographical basis, the persulfates market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia-Pacific dominates the global persulfates market on the back of large consumption from 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 North America region. The implementation of stringent health and safety regulations on the cosmetic industry may impact the adoption and usage of persulfates in cosmetic products in the region. The market in the Europe is expected to witness slow growth on the back of possible ban on persulfates for use in cosmetics.
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Moreover, 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 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 moderates 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, is 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.
By End-use Industry
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