Organic Peroxide Market Worth 1,069.1 Million USD by 2022
PUNE, India, September 28, 2017 /PRNewswire/ --
According to a new market research report "Organic Peroxide Market by Type (Diacyl, Ketone, Percarbonates, Dialkyl, Hydroperoxides, Peroxyketals, Peroxyesters), Application (Chemicals & Plastics, Coatings, Adhesives & Elastomers, Paper & Textiles), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is estimated at USD 902.4 Million in 2017 and is projected to reach USD 1,069.1 Million by 2022, at a CAGR of 3.4% from 2017 to 2022.
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The market is driven by the increased demand for organic peroxide from various application segments, such as chemicals & plastics, coatings, adhesives & elastomers, paper & textile, detergents, and personal care, among others. The chemicals & plastics application segment is estimated to lead the global organic peroxide market, in terms of volume and value, in 2017.
Diacyl peroxide is estimated to be the largest type segment of the global organic peroxide market
The diacyl peroxide segment is estimated to be the largest type segment of the global organic peroxide market. Diacyl peroxide is used as a free radical initiator in the polymerization of PVCs. It also acts as an initiator for vinyl monomer polymerization. Furthermore, diacyl peroxide is used as a curing agent for thermoset resins and for cross-linking of thermoplastics and elastomers. The growth of this segment is expected to be driven by the increasing demand from Asia Pacific and South America.
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The coatings, adhesives & elastomers segment is estimated to be the fastest-growing application segment of the global organic peroxide market
Based on application, the coatings, adhesives & elastomers segment is estimated to be the fastest-growing application segment of the global organic peroxide market. Organic peroxides are widely used as initiators in coatings, adhesives, paints, and dry oils. They are also used as cross-linking agents in elastomers and synthetic rubbers. The growth of this segment can be attributed to the rising building and infrastructure activities in emerging countries.
Asia Pacific is estimated to be the largest market of organic peroxide
Asia Pacific is estimated to be the largest market for organic peroxide. China is projected to be the largest market for organic peroxide in Asia Pacific during the forecast period. The growth of the market in China is expected to be driven by increased foreign investments because of low-cost labor and easy availability of raw materials that has fueled the production of organic peroxide in the country. The growth of the market in the country is further boosted by globalization and high capital investments in infrastructural development projects.
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Key companies profiled in the global Organic Peroxide Market research report include 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.
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