Potassium peroxymonosulfate, commonly known as OXONE or Potassium monopersulfate (PMPS), is an inorganic compound used as a strong oxidizing agent in various applications including electronics, pharmaceuticals, water treatment, and textiles. It effectively controls microorganisms in water systems by removing bacteria, viruses, and other pathogens.
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:
The strict regulations imposed by governments across the world to improve the quality of water supplied for consumption is a key factor promoting the use of peroxymonosulfate in water treatment facilities. Potassium peroxymonosulfate provides effective disinfection without producing undesirable disinfection byproducts. It can inactivate pathogens through oxidation and ensure the supply of potable water. The low cost and eco-friendly nature of PMPS also make it an attractive choice compared to alternatives. With growing global population and rapid urbanization, the need for advanced water treatment systems is increasing significantly which is expected to drive the demand for potassium peroxymonosulfate over the forecast period.
Segment Analysis
The potassium peroxymonosulfate market is dominated by the electronics and semiconductor sub-segment. This is because potassium peroxymonosulfate is used extensively as an etchant and cleaning agent in the electronics and semiconductor industry. It helps in etching circuits and removing unwanted residues from semiconductor wafers during the manufacturing process. Potassium peroxymonosulfate provides a uniform, controlled and selective etch which makes it very suitable for precision applications in the electronics and semiconductor vertical.
Key Takeaways
The Global Potassium Peroxymonosulfate Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. Rising demand from end use industries like electronics and water treatment is fuelling market expansion. The Asia Pacific region currently dominates the global potassium peroxymonosulfate market and is expected to maintain its leading position during the projected timeframe. This is owing to the increasing electronics manufacturing activity and stringent wastewater treatment regulations in countries like China, Taiwan and South Korea.
Regional analysis:
The Asia Pacific region is the fastest growing as well as the dominant regional market for potassium peroxymonosulfate. Countries like China, India, Japan and South Korea are driving high demand due to their large electronics manufacturing base and growing emphasis on wastewater treatment. The presence of major global electronics brands and their manufacturing facilities in the region boosts the consumption of potassium peroxymonosulfate.
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. DowDuPont, Inc. and Lanxess AG are the largest producers and suppliers of potassium peroxymonosulfate globally.
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