Global Organic Peroxide Market: Overview
The organic peroxide is an organic compound that contains the functional group of peroxide. The organic peroxide is found in various forms such as liquids, solid, and pastes. However, phthalate esters, mineral spirits, and water are non-reactive with an organic peroxide. Organic peroxide can be used as an activator and promoter, high polymer initiator, hardener, a cross-linking agent, curing agent, catalyst, and accelerator. Diluted organic peroxide provides stability when exposed to heat or physical shock.
Global Organic Peroxide Market: Growth Factors
Use of organic peroxide as a chemical in the different industrial applications has risen in the last few years. Various companies are engaged in the production of efficient organic peroxide solutions to meet the requirement of the consumers thus triggering the market growth. Increasing awareness towards environment safety is increasing the demand for renewable raw materials coupled with product development thus fostering the global organic peroxide market growth. Upgradation and advancement in the processing industry are fostering the global market growth. The rapid rise in industrialization led to increased demand for plastic and chemicals, paper and textiles, and coating adhesives. Ongoing research and development towards product development are expected to boost the market growth in future. However, there are certain challenges that affect the market growth which include the organic peroxide handling, transportation, and safety. Companies are focusing on the production of new packaging options for organic peroxide to avoid any sort of hazard while transportation.
Global Organic Peroxide Market: Segmentation
The global organic peroxide market is categorized based on application, types, and geography. The application segment is categorized into renewable energy, paints, coatings and adhesives, plastics and chemicals, construction, automotive and transportation, consumer goods, electrical and electronics, cosmetics, and packaging and paper. Based on types, the global market is fragmented into hydroperoxides, diacyl peroxides, peroxyketals, ketone peroxides, peroxyesters, dialkyl peroxides, and peroxydicarbonates. The geographical segmentation includes North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Global Organic Peroxide Market: Regional Analysis
Growth and development in the chemical industry in Indonesia, India, and China is expected to drive the global organic peroxide market growth in the near future. Asia-Pacific is expected to witness growth in the near future owing to increasing demand for organic peroxide in the chemical and packaging & paper industry. China is the leading region for the higher consumption of the organic peroxide in Asia Pacific region. The growth in the North American region is mainly attributed to the factor that the demand for organic peroxides is growing in various applications such as coatings & plastics and adhesives.
Global Organic Peroxide Market: Competitive Players
The major dominating player in the global organic peroxides market is Solvay SA, Akzo Nobel N.V., United Initiators, Suzhou Hualun Chemical Company Ltd., Arkema SA, Akpa Kimya Ambalaj Sanayi Ve Ticaret Ltd. STI, Vanderbilt Chemicals, LLC, MPI Chemie BV, Novichem, and Pergan GmbH.
Global Organic Peroxide Market: Regional Segment Analysis
What Report Provides