Market Size of Persulfates Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Persulfates Market Analysis
The persulfates market is projected to register a CAGR of over 3% during the forecast period (2021-2026).
The COVID-19 pandemic impacted metal production as mining was interrupted due to lockdown regulations and the safety of workers. Thus, the persulfates market was negatively impacted as they are used to clean the surface of metals in the electrical components industry. The coronavirus pandemic has had a considerable impact on the electronics industry as the supply chain of electronic components disrupted. Furthermore, the oil and gas industry, in which persulfates are used as gel breakers, was also negatively impacted by COVID-19 as the demand decreased. In India, the amount of crude oil produced in October 2020 was 2.568 million metric ton. When compared to domestic production in October 2019, this was 6.24% lower. Natural gas output was also down compared to the same month last year. Domestic natural gas production in October 2020 was 2,418.88 million standard cubic meters, down by 8.41% from October 2019. The global cosmetics industry was also negatively affected, which affected the demand in the market studied. The revenue from the global cosmetics industry fell from approximately USD 89.8 billion in 2019 to USD 87 billion in 2020, witnessing a decline of around 3.1% in 2020. However, the condition is expected to recover in 2021, thereby restoring the growth trajectory of the market over the forecast period.
Over the medium term, the major factors expected to drive the market are the increasing demand for persulfates in the electronics industry and growing demand in the paper, pulp, and textile industry.
On the flipside, issues related to the storage and transportation of persulfates and the negative impact of the COVID-19 pandemic are the major restraints expected to hinder the market growth.
Asia-Pacific dominated the market globally, with the largest consumption registered in countries like China, India, and Japan.
