Home > Bulk & Specialty Chemicals > Organic Peroxide Market
Organic peroxide market size was around USD 2 billion in 2020 and will grow at a CAGR of 4.2% from 2021 to 2027 owing to the increasing demand from the polymer industry across the globe. In terms of volume, the market share is projected to expand at a CAGR of 3.7% while recording a valuation of 545.20 Kilo Tons. Organic peroxide is a carbon-containing compound holding two oxygen atoms together. Organic peroxides and different compounds with organic peroxide are utilized as initiators, activators, catalysts, accelerators, curing agents, hardeners, cross-linking agents, and promoters.
To get more details on this report: Request Free Sample PDF
These are extensively used as initiators in the procedure of polymerization to manufacture various sorts of polymers. The mounting demand for thermoplastics and polymers across numerous industrial applications is expected to bolster the organic peroxide market growth during the assessment period. This specialty chemical also attains applications in adhesives, coatings, textile, rubber, and paper industries, among several others. The increasing penetration of the end-use industries in emerging regions around the globe is estimated to record considerable growth.
The industry is driven by the rising demand from several end-use industries such as automotive, construction, electrical & electronics, and composites. The demand for organic peroxide as a catalyst in manufacturing commodities for packaging, personal care, and detergents is estimated to fuel the organic peroxide market share during the forecast period. The increasing usage of engineered plastics has enhanced the existing manufacturing capacity of the plastic sector, thereby intensifying the requirement for organic peroxide in polymerization processes. Furthermore, rapid urbanization, increasing infrastructure activities, and industrialization are expected to enhance the demand for plastic.
However, organic peroxides are known to be extremely hazardous and may cause critical fire and explosion threats if not transported with proper safety measures. Peroxides are, in general, chemically volatile and can simply fester due to the releasing of heat in high temperatures. These released vapors are flammable in nature. Owing to these product properties, organic peroxides are conveyed in lesser quantities.
|Market Size in 2020:||USD 1,963.72 Million|
|Forecast Period:||2021 to 2027|
|Forecast Period 2021 to 2027 CAGR:||3.7%|
|2027 Value Projection:||USD 2,611.85 Million|
|Historical Data for:||2017 to 2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||192|
|Segments covered:||Product, Application, Region|
|Pitfalls & Challenges:|
To get details on how to order this report click here
To tailor this report to your specific requirements: Customize this Report
The ketone peroxide consumption is anticipated to reach around 140 kilo tons by 2027. The increasing production of fiberglass on account of its increasing demand in various applications, such as automotive and marine, is expected to propel the consumption of ketone peroxide for crosslinking of the polymer. Furthermore, the surging demand for fiberglass in the aviation sector is anticipated to increase the consumption of ketone peroxide over the next few years.
In 2020, diacyl peroxide accounted for a considerable share of over 15% in oxygen peroxide market. It is utilized as a free extreme initiator in the polymerization cycle of PVC. It is additionally utilized as an initiator in vinyl monomer polymerization. Moreover, diacyl peroxide is utilized for cross-linking of thermoplastics and elastomers and also as a restoring agent in thermoset resins. Also, a few of the diacyl peroxides are additionally utilized as dynamic drug fixers in the medical sector.
To check discounted pricing for this report: Request Discount
The polymer segment will generate around USD 2 billion by 2027 owing to the growing production of various polymers which will enhance the product demand in the polymerization process. The growing demand for ready-made clothing along with the rising penetration of paper in a wide range of industrial sectors is projected to generate organic peroxide market revenue gains during the forecast period.
Additionally, the increasing spending on apparel coupled with the increasing pulp & paper sales has resulted in a surging demand for organic peroxide in this application. The increasing adoption of rubber in the automotive industry has enhanced the usage of organic peroxides. A high product demand in various applications, such as construction, composites, automotive, and electrical & electronics, is expected to boost the organic peroxide market during the coming years.
The Asia Pacific region will witness over 4.5% CAGR global organic peroxide market from 2021 to 2027 owing to its demand in various end-use industries. Asia Pacific is one of the major producers and consumers of plastic products, and this trend is expected to continue over the next few years. The emergence of China and India as major plastic/polymer and rubber manufacturing destinations is expected to promote the demand for organic peroxide over the near future.
Latin America will generate around USD 100 million by 2027 is mostly dependent on imports, such as polymers, rubbers, and chemicals, from China and European countries to fulfill its regional demand. Such trends are restraining the industry growth in this region. With the growing retail sector mainly in Brazil and Mexico, the demand for various packaging products has been growing at a considerable rate.
The global organic peroxide industry is mainly dominated by AzkoNobel and Arkema with the highest shares presently. The other prominent players in the market include Solvay, Arkema, United Initiators, NOF Corporation, Pergan GmbH, Chinasun Specialty Chemicals, Jiangsu Yuanyang Pharmaceutical Co., Zibo Zhenghua Auxiliary Co., Suzhou Hualun Chemical Co., and NOVICHEM.
For the sectional purchase link: Click here to buy sections of this report
The above information is provided on a regional and country basis for the following: