Persulfates Market to grow at a CAGR of 3.6% during 2024-2028
The Persulfates Market is expected to grow at a CAGR of 3.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 167.5 million. The persulfates market is experiencing robust growth, driven primarily by the expanding battery recycling sector. With the rapid advancements in energy storage technology, the demand for batteries is escalating, from small lithium-ion cells in consumer electronics to large units for electric vehicles and renewable energy storage. This surge in battery usage has highlighted the need for effective end-of-life management. Battery recycling has emerged as a strategic solution to mitigate environmental concerns, minimize waste, reduce the dependence on raw material extraction, and recover valuable metals and components for reuse. This circular economy approach is essential for the sustainable growth of the energy storage industry.
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Technavio analysts predict that the Polymers subsegment will lead the End-user segment during 2024 and 2028 In the polymer industry, persulfates serve a crucial role as initiators for the polymerization of various monomers, including acrylics, vinyl monomers, and styrenics. Their rapid initiation kinetics, thermal stability, and compatibility with a wide range of monomers enable the customization of polymer properties and precise control over reaction conditions. The versatility of persulfates lies in their ability to generate radicals under different temperatures and pH levels, making them indispensable for numerous polymerization processes. Specifically, potassium persulfate is extensively utilized as a polymerization initiator in the production of architectural coating emulsions, which are essential for creating durable and high-quality coatings used in construction and decorative applications.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish growing adoption of persulfates in wastewater treatment
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The Persulfates market encompasses a wide range of applications, including soil remediation, hair care products, and skincare products. In the industrial sector, persulfates are used as etchants, cleaning agents, chain initiators, and free radical generators in various industries. They find extensive use as oxidizers in polymer manufacturing, particularly in the production of paints, coatings, and industrial processes. Persulfates play a crucial role in the semiconductor industry as microetchants for the production of printed circuit boards. In the electronics industry, sodium persulfate is used as a oxidizer in the synthesis of polymers such as polystyrenes, polyvinyl chlorides, neoprene, acrylics, and latex polymers during polymerization. Persulfates are also used as chain initiators and free radical generators in the production of latex and synthetic rubber. Moreover, persulfates are used as oxidizing agents in various chemical processes, including the oxidation of dyes, pigments, and other organic compounds. They are also used as bleaching agents and disinfectants in water treatment processes. The global persulfates market is expected to grow significantly due to the increasing demand for persulfates in various end-use industries.
The global commodity chemicals market encompasses businesses primarily engaged in the production of industrial and basic chemicals, such as plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. Notably, this market excludes companies producing diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of industrial and basic chemicals. Key growth drivers for the commodity chemicals market include the expanding demand for plastic packaging, with plastic being the most widely utilized material in the global packaging industry, and the increasing preference for lightweight, corrosion-resistant materials, leading to continuous innovation in the sector.
The Persulfates Market is experiencing significant growth, fueled by the growing adoption of persulfates in wastewater treatment. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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