LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global tert-butyl hydroperoxide market to grow at a CAGR of close to 3% during the period 2018-2022, according to their latest market research report.
The increasing demand for TBHP as a curing agent is one of the major trends being witnessed in the global tert-butyl hydroperoxide (TBHP) market. A curing agent is a substance that is mainly used to harden a surface or a layer. TBHP is an excellent curing agent, and it is applied on a polymeric surface to facilitate higher bonding of the molecular components of a material. The stronger the molecular bonds, the higher the strength and hardness of the material. TBHP is highly used as a curing agent for thermoset resins, coatings, and specialty monomers, and these substances are effectively used in end-use industries such as automotive, aviation, and building and construction.
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In this report, Technavio analysts highlight increased demand for TBHP as polymerization initiator as a key factor contributing to the growth of the global tert-butyl hydroperoxide market:
Global tert-butyl hydroperoxide market: Increased demand for TBHP as polymerization initiator
TBHP is mainly used as a polymerization initiator in chemical synthesis and processes that yield large chemical compounds. TBHP is an initiator that is used in chain-growth polymerization such as radical polymerization. It is used as an initiator in thermal polymerization and photopolymerization reaction when exposed to heat or light. TBHP, when used in thermal polymerization mechanism, generates radicals or cations. TBHP acts as a photopolymerization initiator when exposed to UV radiations, and it has applications in photocurable composites.
According to a senior analyst at Technavio for IT professional services, “TBHP initiators are extensively used in chemical synthesis to produce chemical-based substance such as acrylic resins, dispersions, and acrylic coatings. Therefore, the increased demand for TBHP as a polymerization initiator is expected to drive the global TBHP market during the forecast period.”
Global tert-butyl hydroperoxide market - Polymerization initiator segment leads the market
This market research report segments the global tert-butyl hydroperoxide market into the following applications (polymerization initiator, curing agent, and chemical synthesis) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major applications, the polymerization initiator segment held the largest market share in 2017, contributing to nearly 48% of the market. The market share occupied by this segment is expected to increase by 2022. However, this application segment will dominate the global market throughout the forecast period.
EMEA was the leading region for the global tert-butyl hydroperoxide market in 2017. It accounted for a market share of approximately 56%. It was followed by the Americas and APAC.
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