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Organic peroxides are class of organic compounds having functional group ROOR’. Organic peroxides are widely used as initiators in certain types of polymerization processes such as epoxy resins used in manufacturing of glass-reinforced plastics. Similar to the inorganic peroxides, organic peroxides are strong bleaching agents and are used in disinfectants. It is also used as catalyst in manufacturing of personal care products, detergents, packaging materials and others.
Increasing demand for organic peroxides in manufacturing process of engineered plastics shall drive the market. Growing demand for engineered plastic is influencing positive impact on market growth. Additionally, increasing use of organic peroxide in disinfectants, bleaching process, curing agent, and other from multiple end-use sector shall fuel market growth.
However, due to the polymerization initiation property of peroxides it can intentionally and unintentionally cause explosive polymerization. This is expected to limit market growth.
Key Market Driver -
Increasing demand from chemical and plastic industries.
Key Market Restraint -
Concerns regarding the explosive polymerization.
Based on type, the market is segmented into diacyl peroxide, ketone peroxide, percarbonates, dialkyl peroxides, hydro peroxides, peroxy ketals, peroxyesters, and others. Based on application, market is segmented into chemicals & plastics, coatings & adhesives, elastomers, paper & textiles, detergents, personal care, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global Organic Peroxide market consists of global & regional players operating. Some of the key players in the market include Nouryon, Arkema, Novichem, NOF Corporation, AkzoNobel, United Initiators, Pergam GmbH, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to hold the prime share in market attributed to the increasing consumption of organic peroxide by India & China. The presence of large manufacturing base for engineered plastics and chemicals shall boost the regional growth. North America is expected to hold significant share due to the large manufacturing base for chemicals. Europe is expected to show significant growth due to the increasing demand for engineered plastics from industrial and automotive sector. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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