The report presents a comprehensive research of the global organic peroxide market by application (textile, pulp and paper, polymer, personal care, and detergents). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: growing polymer industry
Organic peroxides are used in the modification of polymers. These polymers are essential for the manufacture of plastics, including polystyrene and PVC, and composite products, such as fiberglass. The plastics and rubber industries are the largest users of organic peroxides globally. Organic peroxides are used as accelerators, activators, catalysts, initiators, curing agents, hardeners, cross-linking agents, and promoters. Free radical polymerization with organic peroxides is the generic process used to manufacture plastics in the polymer industry.
“Organic peroxides such as initiators, organometallics, and reactor additives are used in the production of thermoplastics and rubbers. With the growth of the polymer industry during the forecast period, the organic peroxide market is expected to grow owing to the increasing use of organic peroxides for manufacturing polymers,” says a senior analyst at Technavio for specialty chemicals research.
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Market trend: increasing production capacity driving market growth
The increase in production capacity has been a major factor boosting the organic peroxide market. Many companies are focusing on increasing their production capacity. For instance, Akzo Nobel decided to increase the production capacity at its organic peroxides facility in Ningbo, China, in 2017. The capacity of this plant will be increased by more than 100% by the end of the third quarter of 2018. The company’s Ningbo site has been producing dicumyl peroxide (DCP), which is an organic peroxide used as a crosslinking agent in the manufacture of polymers. DCP is used in the manufacture of various polymers with better durability. These polymers can be found in different products, including shoe soles. DCP is also used in polymers to produce insulating high-voltage cables. They are used to connect offshore wind parks and other renewable sources of energy. The rising production capacity will encourage smaller vendors to increase their production volume during the forecast period.
Market challenge: rising prices affect market growth
Major organic peroxide producers have implemented price increases recently owing to the rising costs of raw materials, manufacturing, transportation, energy, packaging, and labor. All these factors in addition to regulatory compliance with Environment, Health, Science, and Engineering (EHSE) standards are driving the price of organic peroxides in EMEA and APAC. This price rise is expected to have major implications on the global market during the forecast period.
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