Global Organic Peroxide Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The organic peroxide market is expected to register a moderate CAGR of 4.2% during the forecasted period, 2018-2023. The market is driven by many factors, such as increasing demand from polymer industry, however, growing regulations on the product regarding its usage in food applications are restraining the market during the forecasted period.
Increasing Demand from Polymer Industry
Organic Peroxides are used in polymer industries as a source of free radicals for polymerization of unsaturated monomers, which are used to produce various polymers, such as low-density polyethylene (LDPE), polyvinyl chloride (PVC), polyacrylate, polystyrene (EPS, GPPS, HIPS, SAN), and polybutadiene. Growing plastic applications in various end-users, like healthcare, biotechnology, and automotive industry, due to their chemical properties are expected to drive the market during the forecasted period.
“Polyurethane” the Fastest Growing Application
Based on type, diacyl peroxides has the largest share and is expected to grow at a healthy rate. Diacyl peroxides find major applications as a free radical initiator during the polymerization of PVC’s, vinyl monomer polymerization, curing agent for thermoset resins, and as crosslinking of thermoplastics & elastomers. Growing demand from emerging countries of Asia Pacific and South America is expected to drive the market during the forecasted period.
Asia Pacific - the Fastest Growing Market
Asia Pacific is the largest market for organic peroxide occupying a share of around 30% and is expected to be the fastest growing market during the forecasted period. China is the largest market in Asia Pacific region and is expected to grow at a healthy rate. This is in response to soaring plastic demand, which is because of government plans to modernize the industry. Chinese government has increasing regulations on imports of plastics products, which has increased the domestic plastic supply.
January 2018: AkzoNobel Specialty Chemicals invested more than EURO 12 million in order to expand the production capacity, along with its up gradation of its organic peroxides facility in Los Reyes, Mexico. The project involves the construction of a new facility to manufacture Perkadox CH-50 organic peroxides
Major Players: Akzo Nobel N.V., Arkema, United Initiators, PERGAN GmbH, NOF CORPORATION, Novichem, Chinasun Specialty Products Co., Ltd, MPI Chemie B.V., AKPA, and Vanderbilt Chemicals LLC, among others.
Reason to Purchase this Report
To understand the impact of growing demand from polymer industry on the market
Analyze various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating type and application in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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