Organic Peroxide Market by Type, Application And Region - Global Forecast to 2022
NEW YORK, Oct. 5, 2017 /PRNewswire/ --
"Organic peroxide market to grow at a CAGR of 3.4% (2017-2022)"
The global organic peroxide 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% between 2017 and 2022. The increased demand for organic peroxide in different applications, such as chemicals & plastics, coatings, adhesives & elastomers, paper & textile, detergents, and personal care acts as a key driving factor influencing the growth of the market.
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However, peroxides are chemically unstable and can easily decompose, releasing heat at high temperatures. The vapors released by peroxides are flammable. Due to these properties, organic peroxides are transported in small quantities, which may act as a restraint for the growth of the organic peroxide market.
"The chemicals & plastics segment is expected to be the largest application segment during the forecast period"
The chemicals & plastics segment is estimated to be the largest segment of the organic peroxides market in 2017, in terms of value and volume. Organic peroxides are commonly used in the chemical industry as intermediates or as catalysts in numerous chemical reactions. They are effective initiators, accelerators, and curing agents.
Organic peroxides are also used as free radical polymerization initiators and for the polymerization of low-density polyethylene (LDPE) and PVC. Thus, organic peroxides play a crucial role in the chemical and plastic applications. These factors act as key growth drivers for the increased demand for organic peroxide in the chemicals & plastics application segment.
The percarbonates segment is expected to be the fastest-growing type segment during the forecast period
The percarbonates segment is expected to be the fastest-growing type segment of the global organic peroxide market during the forecast period, in terms of volume and value. Percarbonates or peroxycarbonates are mainly used as initiators in polymerization. The key application of percarbonates is PVC manufacturing. They are used in the curing of unsaturated polyesters molding resins. The growing usage of percarbonates in these applications is expected to drive the growth of the percarbonates segment.
"North America expected to be the largest market for organic peroxide in terms of value"
North America is expected to be the largest market for organic peroxide in terms of value, owing to the high demand for organic peroxide from countries, such as the US, Canada, and Mexico. The US is estimated to be the largest market for organic peroxide in North America in 2017, followed by Canada and Mexico. Mexico is projected to be the fastest-growing market for organic peroxide in the region. The growth of application industries, such as chemicals & plastics, coatings, adhesives & elastomers, paper & textiles, detergents, and personal care, among others, has led to the increased demand for organic peroxide in the region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments gathered through secondary research.
The break-up of primary interviews is given below.
• By Company Type: Tier 1 – 26%, Tier 2 – 30%, and Tier 3 – 44%
• By Designation: C Level – 24%, Director Level –29%, and Others – 47%
• By Region: North America – 11%, Europe – 40%, Asia Pacific – 23%, South America – 17%, and the Middle East & Africa – 9%
The companies profiled in this 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.
Research Coverage:
This research report categorizes the global organic peroxide market based on type, application, and region. The report includes detailed information regarding major factors, such as such as drivers, restraints, challenges, and opportunities, influencing the growth of the global organic peroxide market. A detailed analysis of key industry players has been done to provide insights on business overviews, products & services, key strategies, investments & expansions, mergers & acquisitions, and other recent developments.
Reasons to Buy the Report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global organic peroxide market comprehensively and provides the closest approximations of market sizes for the overall market and its subsegments across regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will also help stakeholders understand major competitors and gain insights to enhance their competitive positions in the market. The competitive landscape section includes major industry players from all the regions contributing to the market. The landscape consists of top 24 companies ranked and grouped based on their competency parameters, such as geographical presence, recent strategic developments, and the number of employees.
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