July 20, 2024

The Global Potassium Peroxymonosulfate Market Is Driven By Increasing Demand From Water Treatment Applications

Potassium peroxymonosulfate, also known as Caro’s acid or potassium monopersulfate, is an inorganic compound that is widely used as an oxidizer and bleaching agent in various industries including textiles, paper and water treatment. It has strong oxidation and bleaching properties and is effective in removing stains and disinfection of water. The compound is highly soluble in water and produces oxidative radicals such as sulfate and hydroxyl ions on decomposition in water, which help remove contaminants.Potassium peroxymonosulfate has less hazardous by-products than chlorine-based disinfectants and is increasingly being used for municipal and industrial water treatment applications. It is utilized to improve raw water quality by oxidation of organic contaminants and inactivation of microorganisms including bacteria, viruses and parasites.

 

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 key trends:

 


One of the key trends gaining traction in the potassium peroxymonosulfate market is its increasing adoption in agricultural applications. Potassium peroxymonosulfate is an effective disinfectant and oxidizer that helps control plant diseases by destroying pathogens, fungi, mold and algae. It is used as an active ingredient in many fungicides and algicides used on fruits and vegetables. Its oxidizing properties also allow controlled release of oxygen that promotes plant growth. Growing demand for organic and sustainable farming practices is expected to drive further adoption of potassium peroxymonosulfate-based products in agriculture over the forecast period.

Porter’s Analysis

Threat of new entrants: Low. Require substantial initial investments and established distribution networks create entry barriers.

Bargaining power of buyers: Moderate. Limited number of large buyers. Products are partially substitutable.

Bargaining power of suppliers: Moderate. Suppliers have some control over input prices. Limited substitute inputs constrain their power.

Threat of new substitutes: Low. Potassium Peroxymonosulfate has few close substitutes for various applications.

Competitive rivalry: High. Large number of players. High focus on R&D and innovation. Price competition.

 

Key Takeaways

The Global Potassium Peroxymonosulfate Market Demand is expected to witness high growth over the forecast period. The market size for 2023 is estimated at US$ 624.96 Mn and is projected to reach over US$ 1 Bn by 2030, growing at a CAGR of 5.3%.

Regional analysis:

 

North America dominates the global market currently, supported by high demand from industries such as healthcare and water treatment. Asia Pacific is expected to be the fastest growing region, led by countries such as China and India. Growing end-use industries and increasing focus on sanitation and clean water are fueling the regional market.

Key players:

 

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. The market remains competitive with these top companies focusing on developing application-specific formulations and expanding production capacities globally.

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