The Persulfates Market was valued at USD 514.8 Million in 2016 and is projected to reach USD 727.8 Million by 2022, at a CAGR of 5.8% during the forecast period, as per a report by MarketsandMarkets.
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How regulatory approval for the use of persulfates in cosmetics is a potential opportunity?
The oxidizing property of persulfates is widely utilized in cosmetics and personal care products. Ammonium and potassium persulfates are essential components of hair dyes, cosmetics, and bleaching formulations. Safety Assessment of Persulfates as Used in Cosmetics was reviewed by The Cosmetic Ingredient Review (CIR) Expert Panel. The panel concluded that the ammonium, potassium, and sodium persulfates are safe to be used as oxidizing agents in hair colorants and skin lighteners. The cosmetics & personal care industry is growing globally, and the demand for products containing persulfates will see a surge in the future.
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Why overcapacity of persulfates in China is a key challenge?
China is the largest producer and consumer of persulfates. The government of China has taken initiatives to develop the persulfate production industry in China, resulting in China being a net exporter. However, in the process, the Chinese persulfate capacity has seen a dramatic increase in a very small time frame. China’s persulfate production capacity had increased since 2006 marking China among the largest producers. In 2016, China accounted for more than 80.0% of the global persulfate capacity. This has resulted in lower prices of persulfates in international markets and overcapacity. This resulted in the loss of market share and profit margins for manufacturers in other countries. Chinese persulfates manufacturers are offering persulfates below the market price, which has resulted in imposing of strict anti-dumping duties on China by the US, the European Union, and India. The companies in the US, Europe, India, Japan, and other regions face fierce competition by China’s persulfate manufacturers making the market volatile. One of the reasons for China to expand its persulfates manufacturing capacity in less time may be linked to its growing demand. The losses of the companies are borne by the Chinese government. Hence, overcapacity in China and low selling prices present a challenge for the global persulfate manufacturers.
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