Persulfates Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Asia-Pacific is expected to dominate the market for persulfates during the forecast period. In countries like China, India, and Japan, due to the increasing demand from various end-user industries, such as polymers, electronics, and cosmetics and personal care, the demand for persulfates has been increasing.

The growing preference for polymers over metals and rising demand for consumer appliances are boosting the polymer initiator sector in the region, which is stimulating the persulfates market.

Persulfates are also used for oxidative degradation of toxic substances and chemicals in wastewater, making the water treatment process easy. Due to this, there is a surge in demand for persulfates for water treatment applications.

Additionally, changing fashion and lifestyle trends may propel the market growth of hair dyes, and consequently, persulfates, due to their application in hair bleaches and hair lighteners to decolorize hair by oxidizing colors present in the hair shaft. The Asia-Pacific hair color market is expected to register a CAGR of over 6% during the forecast period, which may boost the persulfates market.

China is the world's second-largest cosmetics market and is emerging as the largest market in terms of cosmetics and skincare products globally. The Chinese cosmetics and skincare market, which includes a wide variety of industries, such as makeup, skincare, hair care, and personal hygiene, experienced growth in 2019-2020. Furthermore, the continuous growth in population is another factor fueling the demand for cosmetic products in the country. This, in turn, is augmenting the growth of the market studied.

China is the world leader in many types of goods and is the largest industrial hub. China's wastewater treatment industry broadly covers the treatment of influents, sewage treatment, and water recycling, and the industries are investing more to treat industrial wastewater.

The Asia-Pacific electronic industry grew rapidly in the recent past due to the high demand from countries like India and China. China is a strong, favorable market for electronics producers, owing to the country's low labor cost and flexible policies. Also, the Indian electronics market is expected to reach USD 400 billion by 2025. Additionally, India is expected to become the fifth-largest consumer electronics and appliances industry in the world by 2025.

According to the Government of India, electronics manufacturing in the country is expected to register an annual growth rate of over 30% over the next five years. The country's electronics production is expected to grow by at least USD 153 billion in the next five years. Around 22 domestic and international firms, including Apple, Samsung, Lava, Dixon, and so forth, have lined up with proposals for mobile phone production over the next five years.

China is the world's largest consumer electronics producer, especially for the brown goods product category. It is the world's most extensive electronics manufacturing ecosystem and supply chain, with more than five times the electronics suppliers based in Japan. However, owing to rising labor costs and trade tensions with the United States, the manufacturers are shifting from China to other Asian countries, such as India and Vietnam.

Therefore, the aforementioned factors, coupled with government support, contribute to the increasing demand for persulfates during the forecast period.