April 22, 2024
Potassium Peroxymonosulfate Market

Potassium Peroxymonosulfate Market Driven by Increasing Demand from Water Treatment Industry

Potassium peroxymonosulfate, commonly known as Oxone, is an odorless white powder extensively used as a disinfectant and bleaching agent in the water treatment process. It acts as an effective oxidizing agent that kills microorganisms such as bacteria, viruses, mold, algae, and other pathogens present in water bodies. The compound finds widespread applications in industrial, municipal, and recreational water purification systems to deliver safe and clean drinking water.

The global potassium peroxymonosulfate market is estimated to be valued at US$ 719.96 billion in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends

Growing Urbanization – Rapid urbanization around the world has generated huge demand for clean and safe drinking water. With large populations migrating to cities, the pressure on urban water infrastructure is rising. Water utilities are increasingly adopting advanced oxidation processes that utilize potassium peroxymonosulfate to purify large volumes of water and meet quality standards. This is expected to drive the potassium peroxymonosulfate market size during the forecast period.

Stringent Regulations – Stringent regulatory guidelines regarding drinking water quality issued by organizations such as the WHO and the EPA have compelled water treatment facilities to use technologically advanced purification techniques. Potassium peroxymonosulfate helps fulfill regulatory compliance through its strong disinfecting properties. The growing need for regulatory compliance will boost market expansion.

Porter’s Analysis

Threat of new entrants: Low threat due to requirement of high initial capital investment and existence of established players controlling majority market share.

Bargaining power of buyers: Moderate bargaining power due to availability of substitutes but differentiated offerings keep buyers dependent on key players.

Bargaining power of suppliers: Low bargaining power due to numerous raw material suppliers and suppliers showing little influence on pricing in the market.

Threat of new substitutes: Moderate threat from alternative bleaching agents; however, established demand for potassium peroxymonosulfate restricts impact of substitutes.

Competitive rivalry: High rivalry among key players to gain market share through product launches, partnerships and expansion.

Key Takeaways

The global potassium peroxymonosulfate market is expected to witness high growth. The global potassium peroxymonosulfate market is estimated to be valued at US$ 719.96 billion in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2031.

Regional analysis related content comprises North America dominates the global market supported by growing food processing industry and households spending on laundry and dish washing products. Asia Pacific is expected to witness fastest growth over the forecast period owing to rising population, economic growth and changing lifestyles increasing demand for bleaching products.

Key players related content comprises Key players operating in the potassium peroxymonosulfate market are Solvay, DowDuPont, Evonik, Mitsubishi Gas Chemical Company and Hansol Chemical. Solvay leads global production with production facilities spread across Europe and Americas. Dowdupont, Evonik and Mitsubishi Gas Chemical focuses on expanding production capacities to cater increasing demand from emerging economies of Asia Pacific and Latin America.

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