June 22, 2024

Potassium Peroxymonosulfate Market Is Expected To Be Propelled By Rising Demand From Water Treatment Industry

The global potassium peroxymonosulfate market involves manufacturing and supplying of potassium peroxymonosulfate for a wide range of end-use applications such as electronics, pharmaceuticals, water treatment, and others. Potassium peroxymonosulfate is commonly known as M-xylyl or Caroat and is widely used as an oxidizing agent and bleaching agent. It finds extensive applications as a disinfectant and sanitizer in water treatment plants for purifying drinking water and industrial wastewater. Given its effective disinfecting properties, the increasing concerns regarding water pollution and growing water treatment projects across both developed and developing nations are expected to drive the demand of potassium peroxymonosulfate over the forecast period.

The global Potassium Peroxymonosulfate Market is estimated to be valued at Us$ 624.96 Mn In 2023 and is expected to exhibit a CAGR Of 5.3% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The global potassium peroxymonosulfate market is projected to be fueled by the rising demand from water treatment industry. As mentioned in the heading, the water treatment industry has been witnessing significant growth worldwide in light of growing freshwater scarcity and increasing pollution of water bodies. Many nations are undertaking large-scale water treatment infrastructure projects and upgrading their existing treatment facilities to ensure supply of clean drinking water as well as treat industrial wastewater before discharge. This, in turn, is propelling the adoption of potassium peroxymonosulfate as an effective disinfectant agent in water treatment plants across the globe. Additionally, rising industrial applications of potassium peroxymonosulfate as an oxidizing agent in industries such as pharmaceuticals and electronics is also augmenting the market growth over the forecast period.

Segment Analysis

Potassium Peroxymonosulfate Market is segmented based on form, application and geography. Based on form, the market is segmented into powder and granular. The powder segment is dominating the market currently accounting for around 60% share as the powder form of potassium peroxymonosulfate is widely used in bleaching applications. Based on application, the market is segmented into electronics, water treatment, textile, pulp & paper, chemical synthesis and others. The water treatment segment dominates the market currently with over 30% share as potassium peroxymonosulfate is extensively used as an oxidizing agent in water and wastewater treatment plants to remove organic wastes.

PEST Analysis

Political: Stringent regulations regarding water quality treatment across various countries are driving the usage of potassium peroxymonosulfate for wastewater treatment.

Economic: Growing electronics and textile industries in Asia Pacific are fueling the demand for potassium peroxymonosulfate for bleaching and fabric treatment applications.

Social: Rising awareness about water conservation and waste treatment is positively impacting the adoption of potassium peroxymonosulfate in water treatment plants.

Technological: Advancements in synthesis processes have enabled manufacturing of potassium peroxymonosulfate in both powder and granular forms for varied end-use applications.

Key Takeaways

The Global Potassium Peroxymonosulfate Market Demand is expected to witness high growth over the forecast period. The Asia Pacific region currently dominates the market accounting for around 40% share driven by strong demand from electronics and textile industries in countries like China, India and Japan. Key players operating in the potassium peroxymonosulfate market are DowDuPont, Inc., Lanxess AG, United Initiators, Ansin Chemical Co Ltd., Shangyu Jie Hua Chemical Co., Ltd. Merck KGaA, and Lonza. Key players are focusing on capacity expansions to cater to the growing demand for potassium peroxymonosulfate.

The Asia Pacific region is witnessing fastest growth in the potassium peroxymonosulfate market supported by vibrant electronics industry in China and fabric industry in India and Bangladesh. China dominates the Asia Pacific and global potassium peroxymonosulfate market with around 30% share owing to presence of leading electronics manufacturers and fabric export hubs.

Key players operating in the potassium peroxymonosulfate market are DowDuPont, Inc., Lanxess AG, United Initiators, Ansin Chemical Co Ltd., Shangyu Jie Hua Chemical Co., Ltd. Merck KGaA, and Lonza. These players are focusing on new product launches and capacity expansions to cater to the growing demand for potassium peroxymonosulfate.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it