Organic Peroxide Market Size

Organic Peroxide Market Size

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.

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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.