Organic Peroxide Market Size Worth Over $2.5 billion by 2027
Published Date: August 10, 2021 Authors: Kiran Pulidindi, Akshay Prakash
According to a new research report by Global Market Insights Inc., the Organic Peroxide Market size is forecast to exceed USD 2.5 billion by 2027 due to grow in the production of coatings and adhesives owing to the growing infrastructural advancement and building & construction operations especially in the emerging nations.
The growing consumption for organic peroxide from end-use industries, such as electrical & electronics and automotive sectors, in Asia Pacific and Europe is expected to further enhance the market growth. For instance, the global automotive industry generated the revenue of around USD 5.5 trillion in 2019 and is expected to reach around USD 9 trillion by 2030. The increasing demand for cars, commercial vehicles, and heavy vehicles across the globe is expected to enhance organic peroxide market growth.
Furthermore, the expanding interest for readymade clothing among populace of developing nations owing to the rising adoption for western style, designer wears, and brand inclinations is projected to push the necessity of organic peroxide over the course of near future. The renovation of interior architecture and remodeling as a section of improved inventive embellishment are likely to boost the demand from curtain and carpet industries, heavily upscaling the requisite of organic peroxide in the coming years.
However, organic peroxides are explosive and can cause a fire. They can also be corrosive or toxic in nature. In dependence to the different materials, dose or amount of exposure and course of exposure (eye or skin contact, inhalation, or swallowing), organic peroxide can be harmful to the body. Organic peroxide’s corrosive properties can also affect and demolish metals. Owing to the aforementioned hazardous nature and impact of organic peroxide, the product can be replaced by various other products, which are less harmful and suitable for the production or synthesis of polymers, rubber, coatings, adhesives, pager, and textiles. This may hamper organic peroxide market growth in near future.
Browse key industry insights spread across 200 pages with 171 market data tables & 21 figures & charts from the report, “Organic Peroxide Market Size By Product (Ketone Peroxide, Diacyl Peroxides, Dialkyl Peroxide, Percarbonates, Hydro Peroxides, Peroxyesters), By Application (Polymer, Coatings & Adhesives, Paper & Textiles, Cosmetics, Rubber, Healthcare), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:
Hydro peroxides will prove to be the swiftest rising product by 2027
The hydro peroxides will witness CAGR of 4.5% in organic peroxide industry by 2027. They are effortlessly available and are an appropriate source of vigorous oxygen. These are the organic version of hydrogen peroxides. It is fitting for different oxidation expertise. Propylene epoxidation to propylene oxide is the biggest business utilization of hydro peroxide. Hydro peroxide is likewise utilized in the creation of various specialty chemicals, which are required in the performance chemical and fine chemical industries such as agrochemicals and pharmaceuticals. It can specifically oxidize olefins, alcohols, and hydrocarbons.
Coatings & adhesives will generate a significant revenue in the near future
Coating & adhesive applications grasped a noteworthy revenue share and are expected to garner over USD 50 million by 2027 driven by increasing infrastructural development and building activities in emerging countries. Organic peroxides are used in the synthesis of coatings, adhesives, and resins. Tertiary-butyl organic peroxides and t-amyl products are well suited for coatings and resin synthesis. The increasing demand for coatings in automotive, marine, and aviation applications is further expected to enhance the demand for organic peroxides in coating production.
North America to exhibit solid development throughout the forecast period
North America is likely to hold over 20% share in the global organic peroxide market over the upcoming timeframe. The presence of large plastic manufacturing companies in the region coupled with the growing demand for rubber is projected to generate huge revenue gains throughout the assessment period. The U.S. is one of the largest polymer-producing nations across the globe. Moreover, the growing need for organic peroxides in polymer synthesis in the region is also projected to amplify the demand during the near future.
The organic peroxide industry is highly consolidated with the presence of AzkoNobel and Arkema in the market. The other protuberant manufacturers in the market are Solvay, United Initiators, NOF Corporation, Pergan GmbH, Chinasun Specialty Chemicals, Jiangsu Yuanyang Pharmaceutical Co., Zibo Zhenghua Auxiliary Co., Suzhou Hualun Chemical Co., and NOVICHEM, among others.
Explore More on Related Topics: