During the forecast period 2021-2028, the organic peroxide market size is estimated to value at USD 2.5 billion growing with the highest CAGR of 4.2%.
Organic compounds having two oxygen atoms together forms an organic peroxide. It is a white to yellow colored substance and can be found as solid, liquid, or pastes that undergo self-accelerating decomposition which leads to severe burning and explosive decomposition. Some substances are not reacted with organic peroxides like water, mineral spirits, and phthalate esters and are used to dilute organic peroxide as diluted organic peroxide which provides stability when exposed to heat or shocked physical when compared to undiluted organic peroxide. These organic peroxide substances have unique properties which makes them ideal for use in various end-use applications like personal care, coatings & adhesives, paper & textile, detergents, plastics & rubber, and others.
The COVID-19 outbreak impacts all the business sectors drastically by the implementation of lockdowns and stringent rules. To control the spread of the virus, most governments are implemented lockdowns and various strict rules like maintaining social distance, transportation bans, factories shut down, education sectors off, etc. Due to these factors, the manufacturing industries face various challenges like supply chain disruptions, lack of raw materials, shortage of manpower which results in the stoppage of production.
The organic peroxide market is also impacted by the pandemic negatively. Due to the shutdown of factories and production delays, the supply-demand of plastic-related materials and witness a decline in paper & pulp products which leads to a decline in the demand for the organic peroxide market.
Growing demand for PVC and other plastics from various end-use industries is the major driving factor of the growth of the organic peroxide market. Increasing the chemical industries in emerging countries like China, Indonesia, and India are expected to boost the growth of the market in the coming years. Growing demand for high-quality plastics & rubbers, rapid industrialization, rising expansion of the paper & textile industry is the factors driving the market growth. Growing tourism activities in the emerging nations along with increasing laundry business is fueling the consumption of detergent which increases the organic peroxide market growth.
Increasing the adoption of organic peroxide in coatings coupled with growing automotive production and sales is predicted to foster the market growth in the review period. Rising construction & building activities coupled with growing adhesive usage produced from organic peroxide are expected to fuel the market growth in the estimation period. Moreover, rising per capita disposable income in developing countries coupled with increasing use of personal care products are expected to drive the growth of the market.
Growing regulations on the usage of products in food applications are restricting the market growth. Safety, handling, and transportation are the major concerns restraining the market growth. However, to avoid any types of hazardous, companies are focusing on the different packaging options for handling organic peroxide.
Increasing research and development regarding its multifunctionality is creating an opportunity to fuel the growth of the market. Growing demand for renewable raw materials due to demand for a clean and safe environment and the developments in the product propels the market growth. Organic peroxides are used in multipurpose ways which provide a lucrative opportunity for the market players to increase the market growth in the coming years.
Rising regulations in the import and export of organic peroxide are expected to hinder the market growth.
The global organic peroxide market has been divided into segments based on type, application, and region.
Based on Type
The global organic peroxide market types are classified into various types as diacetyl peroxide, ketone peroxide, percarbonates, peroxy ketals, and more. Here other types include peroxy esters, dialkyl peroxides, and hydroperoxides.
Based on Application
The global organic peroxide applications are categorized into few types as detergents, paper & textiles, plastics & rubber, coatings & adhesives, personal care, healthcare, and others. The healthcare segment is accounting for the largest market share due to its wide usage in moderate to mild acne and in also in various other pharmaceutical products that supports the growth of the segment in the assessment period.
Based on Region
Region-wise, the global organic peroxide market is divided into five main geographies like Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. Out of these regions, Asia-Pacific is expected to dominate the highest share in terms of both value and volume due to the continuous growth of end-use applications like plastic & rubber, coatings & adhesives, and detergent.
Regional Analysis -
Geographically, the organic peroxide market based on regions is analyzed into five major regions like Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Due to the continuous growth of end-use applications like plastic & rubber, coatings & adhesives, and detergent, Asia-Pacific is holding the maximum organic peroxide market share in terms of both value and volume and is anticipated to grow at a significant rate during the review period. Owing to the wide utilization by the adhesive and Paints & coatings manufacturers, the numerous countries of the Asia-Pacific like Bangladesh, Australia, Japan, South Korea, India, Thailand, Taiwan, Malaysia, China, and Singapore are projected to escalate the demand of the market. Additionally, the growing consumer base for plastic products is boosting the market in this region.
Due to the recovery of the industrial sector and growing investments to revitalize the building & construction sector, North America is expected to hold the second-largest market share and witness steady growth in the forecast period. The U.S and Canada are witnessing moderate growth for the strong consumer base for the personal care and the textile industry. Owing to the strong base for automotive manufacturers coupled with growing new product technologies and R &D activities to develop high-quality plastic, European countries like Spain, Germany, U.K, France, and Italy are contributing the moderate growth in the assessment period.
The Ministry of Economy and Industry report states that by 2021, the beauty and personal care (BPC) industry in the country is predicted to grow more than USD 10 billion at an estimated growth rate of 5-6% annually.
The prominent key players in the organic peroxide market outlook are the following:
This global organic peroxide market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the organic peroxide market drivers, restraints, challenges, and opportunities. The organic peroxide market forecast segments are Type, application, and region.
The organic peroxide market trends have been segmented globally based on the Type, application, and region.
Ketone peroxide, diacetyl peroxide, percarbonates, peroxy ketals, and others are some different types of the market. Here other types include peroxy esters, dialkyl peroxides, and hydroperoxides are a few types of the global market.
Detergents, paper & textiles, plastics & rubber, coatings & adhesives, personal care, and others are a few applications of the market.
Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in the organic peroxide market.
|Market Size||2030 : Significant value|
|CAGR||2022–2030: Substantial CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Application, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||United Initiators (U.S.), Pergan GmbH (Germany), Arkema S.A. (France), Akzonobel N.V.(the Netherland), NOF Corporation (Japan), Chinasun Speciality Chemicals Co., Ltd. (China), MPI Chemie B.V. (the Netherland), Akpa (Turkey), Vanderbilt Chemicals, LLC (U.S.), ACE Chemical Corp (Taiwan), Plasti Pigments Pvt. Ltd. (India) among others.|
|Key Market Opportunities||Rising application of organic peroxide in coatings along with increasing automotive production and sales is estimated to fuel the demand|
|Key Market Drivers||Rapid industrialization, increasing demand for high-quality plastics & rubber, expansion of paper & textile industry.|
Organic Peroxide Market is dominated by APAC region.
MPI Chemie B.V. (the Netherland), Pergan GmbH, United Initiators (U.S.), AkzoNobel N.V. (The Netherlands), ACE Chemical Corp (Taiwan), Arkema S.A. (France), NOF Corporation (Japan), Chinasun Specialty Chemicals Co., Ltd. (China), Akpa (Turkey), Vanderbilt Chemicals LLC (U.S.), Plasti Pigments Pvt. Ltd. (India).