Email
Print
Overview
Organic Peroxide Market size is forecast
to reach $1.1 billion by 2025, after growing at a CAGR of 3.2% during 2020-2025.
The increasing demand for peroxide as a catalyst in the production of goods for
personal care, packaging, and detergents is expected to drive the growth of the organic
peroxide over the forecast period. Drivers such as rapid urbanization, rising
construction activities and changing lifestyles will eventually push the
current market forward, making it easier for plastics and related goods to
expand globally.
Report Coverage
The report: “Organic Peroxide Market – Forecast (2020-2025)”, by IndustryARC, covers
an in-depth analysis of the following segments of the Organic Peroxide Industry.
Key Takeaways
- Rapid urbanization, increasing spending trends and growing customer concerns about cosmetics are expected to play a crucial role in the growth of products in the textile polymer and personal care industry.
- Organic peroxides are highly utilized as bleaching agents and disinfecting agents. For instance, benzoyl peroxide is effective for treating most forms of acne.
- Fluctuating prices of raw materials also play a key role in evaluating future demand for such catalysts. High prices of raw materials tend to reflect market prices for end products, which eventually contribute to higher profits.
- Factors such as the Singapore Free Trade Agreement, which is among the fastest growing market for technical textiles in addition to U.S. manufacturers entering new markets, are expected to bring significant growth over the next five years.
- Increasing demand from the chemical industry and increasing applications for bleaching in China and India and developments in the processing industry are expected to drive the future growth of the market for organic peroxides over the forecast period.
Product Type - Segment Analysis
In 2018, diacyl peroxides dominated
the market and accounted for a significant share of the total volume in 2018.
Diacyl peroxides are widely accepted as curing agents across various end-use
industries. Diacyl peroxide is used as a free radical initiator in the process
of polymerization and polymerization of PVC. Furthermore, it is also used in
the polymerization of styrene, dental supplies paints and skin care. The
increasing demand for organic diacyl peroxides mainly from Asia Pacific and
Latin America is expected to further increase the growth of the segment during
the forecast period.
Application - Segment Analysis
Textile sector is expected to be
the dominant application segment in the organic peroxide market in 2018. Increased
demand for ready-made clothing among the emerging middle-class population due
to trends such as adaptation of western fashion, designer clothing and brand
preferences is expected to boost organic peroxide requirements over the
forecast period.
Geography - Segment Analysis
Asia Pacific holds the largest
share in the organic peroxides market in 2018, up to 37%. Increased disposable
income in the region has increased demand for personal care and textiles, among
others, adding to the revenue of the global organic peroxide market. In
addition, the growing construction activities in the region have resulted in
the penetration of paints and coatings resulting in an increase in the market
in the region.
Drivers – Organic Peroxide Market
• Growing
plastic applications in various end-use industries.
Organic peroxides are used in the
polymer industry as a source of free radicals for the polymerization of
unsaturated monomers used for the manufacture of various polymers, such as, polyvinyl
chloride, polystyrene, polyacrylate, low-density polyethylene and
polybutadiene. Growing plastic applications in various end-users, such as
healthcare, biotechnology and the automotive industry, are expected to drive
the market during the forecast period due to their chemical properties.
Challenges – Organic Peroxide Market
Ø Safety, handling and transportation of
organic peroxide is a major concern restricting the market growth.
Peroxides are also strong
oxidizers and react easily with skin cotton and wood pulp. The temperature of
the sample which should be maintained below the self-accelerating decomposition
temperature of the material is an important factor for the safe handling
of concentrated organic peroxides. In many countries, the shipping of organic
peroxides is restricted. The US Department of Transportation lists restrictions
on organic peroxide shipping and forbidden materials in 49 CFR 172.101.
Market Landscape
Technology launches, acquisitions and R&D
activities are key strategies adopted by players in the Organic Peroxide Market.
In 2019, the market of Organic Peroxide has been consolidated by the top five players
accounting for xx% of the share. Major players in the Organic Peroxide Market are
Akzo Nobel N.V., Arkema, United Initiators, Pergan GmbH, NOF Corporation,
Novichem, Chinasun Specialty Chemicals Co., Ltd, MPI Chemie B.V., Akpa Kimya
Ambalaj Sanayi Ticaret Ltd., and Vanderbilts Chemicals LLC., among others.
In May 2017, AkzoNobel
expanded its company portfolio by launching an expansion project for the
Polymer Chemistry production facility in Los Reyes, Mexico.
In March 2016, United
Initiators and Wanhua Chemical Group entered into a joint venture to form a company
called UI Wanhua Peroxide Co. Uh, Ltd. The whole aim of the joint venture is to
concentrate on the production and sale of organic peroxides, beginning with the
main raw material TBHP?70?AQs.