Potassium peroxymonosulfate or potassium monopersulfate is an odorless white powder used as a chemical disinfectant and bleaching agent. It decomposes in water to form active oxygen species which can destroy microbes by oxidation. Potassium peroxymonosulfate is widely used as a sanitizer in the food processing, healthcare and water treatment industries due to its strong disinfecting properties.
The global potassium peroxymonosulfate Market is estimated to be valued at US$ 719.96 Bn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The increasing demand for disinfectants across industries is estimated to drive the growth of the potassium peroxymonosulfate market size during the forecast period. Potassium peroxymonosulfate is more effective at killing bacteria and viruses than chlorine-based disinfectants with minimal risk. It leaves no harmful residues and decomposes into oxygen and water after use. The COVID-19 pandemic has heightened awareness about sanitization and hygiene. Various industries are leveraging properties of potassium peroxymonosulfate to sanitize surfaces and equipment on a large scale. The growing preference for non-toxic and environmentally friendly disinfectants is estimated to boost the demand for potassium peroxymonosulfate based products over the coming years.
Porter's Analysis
Threat of new entrants: Low capital requirements and established distribution channels lower barriers to entry. However, established brands and need for compliance to regulations protect incumbents.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and undifferentiated products. However, compliance requirements maintain buyers.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitutes and differentiation in sourcing and supply chain requirements.
Threat of new substitutes: Threat of substitutes is moderate as other oxidizing agents can be used, but regulations support established uses of Potassium Peroxymonosulfate.
Competitive rivalry: The market is consolidated with large producers able to influence prices and production. Competition is based on product reliability, service, and compliance.
SWOT Analysis
Strengths: Wide applications in industries such as water treatment, bleaching, and sterilization. Effective at low concentrations and non-toxic to humans at labeled uses.
Weaknesses: Highly reactive oxidizing agent requiring safe handling and storage. Regulated use limits substitution or new applications.
Opportunities: Growing treatment requirements for water and wastewater present an opportunity. New formulations or masked forms could widen approved uses.
Threats: Strict environmental regulations and emphasis on sustainability may reduce heavy water treatment needs. Substitutes may emerge.
Key Takeaways
The global Potassium Peroxymonosulfate market is expected to witness high growth over the forecast period driven by expanding water and wastewater treatment needs. The global potassium peroxymonosulfate Market is estimated to be valued at US$ 719.96 Bn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023-2031.
The Asia Pacific region currently dominates the market owing to large population and industrialization in countries like China and India. Stringent environmental norms will further drive the need for Potassium Peroxymonosulfate in water treatment applications. China dominates production and consumption owing to its large chemical industry and population. Other major markets include India, Japan, and South Korea due to their industrial and urban infrastructure growth. North America and Europe are mature markets but growing adoption in municipal and industrial water treatment offers opportunities.
Key players: Key players operating in the Potassium Peroxymonosulfate market are MegaPerox, Shree Chlorates, Interquim, Kaifeng, Elite Chemical, and Jaikai Chemical. Major players focus on compliance, product development, and distribution to serve the needs of municipal, industrial, and consumer applications.
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