Potassium Peroxymonosulfate Market Is Anticipated To Witness Robust Growth Owing To Increasing Usage In Disinfect And Clean Applications

Potassium Peroxymonosulfate Market

Market overview:

Potassium peroxymonosulfate (KPS), also known as Caro's acid or potassium monopersulfate (KMS), is an inorganic compound consisting of potassium, sulfur, oxygen, and hydrogen. It commonly exists as white crystals or powder form. KPS has strong chemical oxidizing properties and is widely used as a disinfectant and bleaching agent in hard surfaces, swimming pools, wastewater treatment plants and other applications. The rising demand for effective disinfectants from various industries such as healthcare, food & beverage and consumer goods is spurring the consumption of KPS. It is also extensively utilized in agriculture and aquaculture for disinfecting equipment and surfaces.

The Global Potassium Peroxymonosulfate Market is estimated to be valued at US$ 719.96 Bn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the Potassium Peroxymonosulfate are Meditrac, Trulife, Everyway Medical Instruments Co. LTD, Enovis (DJO, LLC), Orthoservice AG, Aurora Health & Beauty Inc., Compass Health, Advanced Orthopaedics, Disc Disease Solutions, Inc., Jiangsu Folee, Baker Medical., Tynorindia, SCOLIOLIFE, and Pettibon System. Meditrac is the global market leader with over 15% share owing to its long presence and wide geographic reach.
The rising awareness about the health hazards of chemicals has propelled the demand for clean and safe disinfectants like KPS. This provides numerous opportunities for market players to expand their KPS offerings and garner higher sales.
Major companies have been expanding their global footprint by setting up manufacturing plants in Asia Pacific and Latin America. The easy availability of labor and raw materials in developing nations is encouraging international players to establish local subsidiaries in these fast growing markets.

Market drivers and restrain:
Major market driver contributing to the positive outlook of Potassium Peroxymonosulfate Market Growth includes growing demand from healthcare sector. Increasing utilization of disinfectants in hospitals, clinics and healthcare facilities due to COVID-19 pandemic has augmented the consumption of KPS. Strong oxidizing property allows KPS to effectively kill viruses and bacteria from surfaces which has further fueled its adoption. On the other hand, availability of alternative disinfectants and fluctuating prices of raw materials can act as a potential restraint for market players. Strict regulations pertaining to potassium peroxymonosulfate production and transportation also hamper the industry growth.


Segment Analysis
The potassium peroxymonosulfate market can be segmented by application into electronics, automotive & transportation, pharmaceuticals, pulp & paper, mining, textiles, and others. Among these, the electronics segment held the largest market share in 2021 and is expected to continue its dominance during the forecast period. A substantial amount of potassium peroxymonosulfate is consumed as an etchant in the printed circuit board manufacturing process in the electronics industry. It helps clean electronic components by removing oxidized layers, metal ions, and other contaminants, allowing for better electrical connections.

Global Analysis
Regionally, Asia Pacific dominated the global potassium peroxymonosulfate market in 2021 with a share of over 35%, driven by growth in end-use industries such as electronics, textiles, and mining in China, Japan, South Korea, and India. The region is estimated to continue exhibiting the fastest growth through 2030 owing to rising electronic component manufacturing, widespread adoption of advanced wastewater treatment techniques, and strong domestic demand. Meanwhile, North America and Europe collectively held more than 30% market share in 2021 due to the presence of well-established electronics industries and stringent environmental regulations regarding industrial wastewater treatment in countries like the US, Germany, Italy, and the UK.

Get more insights on this topic: https://www.ukwebwire.com/potassium-peroxymonosulfate-market-size-and-share-analysis-growth-trends-and-forecasts/

Comments

Post a Comment

Popular posts from this blog

Epstein - Barr Virus (EBV) vaccination is fastest growing segment fueling the growth of monovaccine market

Image
Monovaccines  Monovaccines refers to vaccines that provide protection against a single pathogen or disease. EBV monovaccine helps in preventing infectious mononucleosis caused by the Epstein–Barr virus. It offers advantages like conferring lifelong immunity, protection from various cancers associated with EBV infection and reducing disease burden in resource limited countries. The global monovaccine market is estimated to be valued at US$ 10.42 Bn 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 major trends in the monovaccine market is rising investment by manufacturers in research and development of EBV vaccines. As per statistics, around 95% of adult population gets infected by EBV at some point in their life making it an attractive target pathogen for vaccination development. Further, increasing awareness about EBV linked cancers like Bu
Read more

The Global Hydrogen Aircraft Market Is Propel By Hydrogen Fuel Powers Eco-Friendly Aviation

Image
Hydrogen Aircraft Market  Hydrogen fuel cells provide onboard electricity with only water as a byproduct, making them an eco-friendly alternative to conventional jet fuels. Hydrogen fuel cells can power aircraft auxiliary systems and offer a range of over 1,000 nautical miles. The global hydrogen aircraft market is estimated to be valued at  US$ 7.76 Mn in 2023  and is expected to exhibit a  CAGR of 5.0%  over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: Green Flight Plans Drive Adoption of Hydrogen Technology Major airlines and aircraft manufacturers have announced plans to introduce hydrogen-powered commercial aircraft by 2035 as part of their commitments to achieving net-zero carbon emissions by 2050. The development of hydrogen fuel cell and storage systems suitable for aviation is being pursued through collaborative research programs. Government incentives and potential carbon credits for green aviation tec
Read more

Tissue Paper Market Growth Accelerated By Increasing Demand From Healthcare Facilities

Image
Tissue Paper Market Tissue paper is a lightweight paper which is used for various hygiene and sanitation purposes including toilet paper, facial tissues, paper towels, and napkins. Tissue paper provides softness, strength and absorbency, making it ideal for applications related to healthcare sector such as hospitals, nursing homes, and clinics. The increasing focus on hygiene and sanitation in healthcare facilities is anticipated to propel the demand for tissue paper products over the forecast period. The global Tissue Paper Market is estimated to be valued at   US$ 84.37 Bn   in   2023  and is expected to exhibit a   CAGR of 6.2%   over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing demand from healthcare sector is one of the major trends boosting the growth of the tissue paper market. With growing healthcare infrastructure and rising spending on healthcare services, the demand for tissue paper
Read more