Global organic peroxide market Business Prospects, Growth Opportunities, Regional Analysis ,Statistics and Forecast to 2023
Research Reports
Jan 15, 2021
Market Overview:
The global organic peroxide market is categorized into five regions: Europe, Latin America, Asia Pacific, North America, and the Middle East and Africa. Among them, Asia Pacific accounted for ~34.8% market in 2016 and is estimated to register significant growth at a healthy CAGR over the assessment period 2017-2023 owing to rising demand from various end-use industries such as building & construction, electronics, automotive and healthcare sector. The Asia Pacific, organic peroxide market is categorized into Thailand, Singapore, South Korea, Japan, India, Vietnam, China, Malaysia, Taiwan, and Rest of Asia Pacific. China and India’s strong position in the Asia Pacific are expected to remain dominant due to increasing industrial complexes and growing demand for plastic products in international markets, which are driven by the ease in availability and relatively low price. Increasing middle-class population along with high adoption rate of urban fashion is estimated to drive the demand for apparel in the upcoming years, which, in turn, is estimated to propel the growth of the market. Additionally, continuous growth of the building & construction sector along with increasing demand for the organic peroxide-based adhesive is predicted to drive the growth of the market over the estimated period.
North America holds the second rank in terms of demand for organic peroxide in the global market after the Asia Pacific. In North America, the U.S. and Canada together accounted for the largest market share due to shifting consumer preference towards designer apparels along with the expansion of production facilities. Furthermore, availability of low-cost gas in North America is estimated to generate a huge amount of different polymers in the upcoming years. Rising expenditure to establish new projects will surge the plastic demand which in turn is predicted to fuel the growth of the market. Europe is expected to witness a moderate growth due to the strong presence of automotive manufacturers in various countries such as Germany, U.K, Italy, and France along with wide utilization of paints & coating in automotive and other transportation. Emerging economies of Latin America and the Middle East & Africa is estimated to register significant growth due to strong consumer base for automobile and personal care in Brazil, Mexico, and Argentina as well as increasing construction activities in Saudi Arabia, the United Arab Emirates, Qatar, and Turkey.
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Segmentation
The global organic peroxide market is segmented on the basis of type, application, and region. Based on the type, the market is categorized into ketone peroxide, diacetyl peroxide, percarbonates, peroxy ketals, and others. Other type includes peroxyesters, dialkyl peroxides, and hydroperoxides. Based on the application, the organic peroxide market is classified into paper & textiles, detergents, plastics & rubber, coatings & adhesives, personal care, and others. Based on the region, the market is divided into Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa.
Key Players
Key players operating in the organic peroxide market are 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.
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