Organic Peroxide Market: Key Insights
The organic peroxide market is expected to witness decent growth in the coming years due to the increasing demand for organic peroxide in various end-use industries such as plastics, rubber, construction, personal care, and pharmaceuticals. Organic peroxide is widely used as an initiator and cross-linking agent in these industries due to its ability to improve product properties such as strength, durability, and appearance. Additionally, the increasing demand for eco-friendly and sustainable products drives the market for organic peroxides as they are biodegradable and have low toxicity levels. The growth in the construction industry, especially in emerging economies, is expected to be a major growth driver for the organic peroxide market. The increasing demand for organic peroxide in the personal care industry for the production of hair care and skin care products is also expected to contribute to organic peroxide market growth. Furthermore, the growing demand for organic peroxide in the pharmaceutical industry for producing active pharmaceutical ingredients is also predicted to drive the market growth. However, the organic peroxide market growth may be restrained by the stringent regulations and environmental concerns related to the handling, transporting, and storing organic peroxides. Additionally, the fluctuating prices of raw materials used in the production of organic peroxides may also act as a restraint on market growth.
Increasing Demand for Polyester and Silicon is Driving the Organic Peroxide Market
The organic peroxide market is boosted by the surging demand for polyester and silicon from the polymer industry. Polyester and silicon are used as an initiator in the polymerization reaction and as crosslinking agents in the production of various polymeric products. The demand for polyester resins, in particular, has been rising in various end-use industries such as construction, packaging, automotive, and textiles. This, in turn, is driving the demand for organic peroxides that are used as an initiator in the production of polyester resins. Additionally, the increasing use of organic peroxides in the production of silicon rubber products has also contributed to the growth of the organic peroxide market. With the growing demand for polyester and silicon-based products, the organic peroxide market is expected to continue its growth trajectory in the future.
Organic Peroxide Market: Segmental Overview
The global organic peroxide market is segmented on the basis of type and application. On the basis of type, the organic peroxide market is segmented into, diacyl, ketone, percarbonates, dialkyl, hydroperoxides, peroxyketals, and peroxyesters. On the basis of application, the organic peroxide market is segmented into, chemicals & plastics, coatings, adhesives & elastomers, paper & textiles, detergents, personal care, and others.
The chemicals & plastics segment is expected to hold a substantial share of the organic peroxide market. This can be attributed to the wide range of applications of organic peroxides in the chemical industry, such as polymerization initiators, crosslinking agents, and blowing agents for the production of a variety of plastic products. Additionally, the increasing demand for high-performance plastics and composites in various end-use industries, such as automotive, construction, and packaging, is further driving the growth of the chemicals & plastics segment in the organic peroxide market.
Organic Peroxide Market: Competitive Landscape and Key Developments
Chemtura Corporation; Dhruv Chem Industries; Gulf Resources Inc.; Hindustan Salts Ltd.; Israel Chemical Ltd; Jordan Bromine Company; Morre-Tec Industries Inc.; Tata Chemicals Ltd.; Tetra Technologies Inc.; and Tosoh Corporation are among the key players operating in the organic peroxide market. These companies have a widespread presence worldwide, which provides lucrative opportunities to serve a large number of customers and expand the organic peroxide market
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