According to new Global Market Insights, Inc, chemical research report Organic Peroxide Market size is rapidly growing during the forecast period owing to increasing demand from the polymer industry across the globe. These are widely employed as initiators in the process of polymerization to produce different types of polymers. The growing demand for polymers across various industrial verticals is set to positively contribute the growth of the organic peroxide market during the assessment period. The product also finds its application in coatings, adhesives, paper, textile and rubber industries among others. The growing penetration of these industries in the developing regions across the globe is anticipated to substantially contribute to the growth of the global market.
Growing research and development activities for high quality polymers development along with propelling use of organic peroxide in skin treatment application shall further boost the organic peroxide market growth throughout the review period. Additionally, multi functionality of organic peroxides along with growing applications in food and pharmaceutical industry is projected to create ample opportunities in the market during the forecast period.
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Plastics and rubber industries are the major revenue pockets for the global organic peroxide market. These industries uses organic peroxides mainly as, activators, cross-linking agents, accelerators, curing agents, hardeners, initiators, and promoters in the manufacturing processes. However, stringent regulations relating to the use of organic peroxides such as EU Regulation EC 1907/2006 (REACH) coupled with safety issues regarding the handling of organic peroxides is projected to be the major restraining factor during the given period (2019-2025).
In terms of product type, the global organic peroxide market has been segmented into ketone peroxide, diacyl Peroxides, dialkyl peroxide, percarbonates, hydro peroxides, peroxyesters and others. Among the segments, diacyl peroxide product segment was the dominant segment in 2018 and is projected to exhibit the same trends during the forecast period. Diacyl peroxides are widely accepted across various end use industries as curing agents. These peroxides are extensively used in the polymerization of styrene, in dental supplies, paints and in skin care. The escalating demand for diacyl organic peroxides mainly from Asia Pacific and Latin America is set to further surge the growth of the segment during the review period.
In terms of end user industry, the global organic peroxide market has been segmented into polymer, coatings & adhesives, paper & textile, cosmetics, rubber, healthcare and others. Among the industries polymer, paper & textile and coatings are the dominant segments and is anticipated to generate substantial revenue during the forecast period. The growing demand for ready-made clothing along with the rising penetration of polymers in wide range of industrial sector is projected to generate substantial revenue gains during the forecast period. Additionally, the growing constructional spending coupled with the increasing automobile sales has resulted in a surge in the demand for coatings in turn positively contributing to the growth of the global market.
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Asia Pacific is estimated to grow at a significant CAGR in the organic peroxide market during the forecast period. The rising disposable income in the region has augmented the demand for personal care and textile among others in turn adding to the revenue of the global organic peroxide market. Moreover, the growing construction activities in the region has resulted in penetration of paints and coatings consequently resulting in the growth of the market in the region. North America and Europe are other major region attributing to the growth of the market. The growing demand for the product in paints and coatings application is the major factor attributing to the market growth.
Some of the key market players in this market include Akzo Nobel N.V., solvay, Arkema, United Initiators, NOF Corporation, Pergan GmbH, Chinasun Specialty Chemicals, Novichem, MPI Chemie, Akpa Kimya Ambalaj Sanayi Ticaret Ltd., and Vanderbilts Chemicals LLC among others.
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