According
to a report published by Grand View Research, Inc.; the organic peroxide market
is likely to reach a valuation of around USD 1.2 billion by 2025. Increasing
demand for the product as a catalyst in manufacturing commodities for personal
care, detergents, and packaging can propel the market over the forecast period
(2014 to 2025). In addition, rapid
urbanization, increasing spending capacity, and rising concerns about cosmetics
among consumers is likely to surge the product demand in textile, personal care,
and polymer sectors.
Organic
peroxide is utilized in several applications including manufacturing and
production of paper and pulp, polymers, textiles. The product is extensively
used for polymerization processes due to increasing demand for engineered
plastics. Rise in infrastructure development in growing economies is expected
to boost the demand for plastic material, thereby driving growth for the
market. In addition, increasing use of rubber in the automobile sector is also
expected to act as a driving factor for the market.
Full Research Report On Organic Peroxide Analysis:
The worldwide organic peroxide market
can be segmented on the basis of product, application, and regions. As per
product, the market can be categorized into diacetyl peroxide, ketone peroxide,
and benzoyl peroxide. The diacetyl peroxide segment is anticipated to display a
3.4% CAGR during the forecast period in terms of volume.
Based
on application, the market can be divided into personal care, polymers,
textile, paper and pulp, and detergent. The polymer segment is projected to grow
at an estimated CAGR of 4.4% from 2017 to 2025. Personal care segment is
expected to grow at a CAGR of 3.7% during the forecast period. Paper and pulp segment
is anticipated to acquire for 21.06% share of overall volume till 2025.
View More Reports Of This Category By Grand
View Research At:
https://www.grandviewresearch.com/industry/pharmaceuticals
https://www.grandviewresearch.com/industry/pharmaceuticals
Geographically,
the market can be divided into North America, Europe, Asia Pacific, Central
& South America, and Middle East & Africa.
In
2016, Asia Pacific estimated for 27.43% of overall market share. Development of
emerging countries such as India and China as a key manufacturer and exporter of
plastics and textiles is anticipated to boost the product usage during the
forecast period. In addition, robust availability of raw material and low labor
cost is also expected to increase the foreign investments in the region. China’s
position in the region is expected to remain strong due to increasing
manufacturing facilities and high demand for plastics in international market.
In
2016, North America was the second largest market and registered for 17.69% of
the total volume. But, the region is expected to show a slight decline in the
next few years due to shift of bases of key manufacturing companies towards the
Asia Pacific. Growing investments in developing a new product range is also
expected to increase the demand for the product. The region is likely to
exhibit a CAGR of 17.35% in terms of volume till 2025.
Increasing
demand for halal-based cosmetics in the Middle East countries such as Saudi
Arabia, Jordan, and Iran is anticipated to create new opportunities in the market.
Prominent
players operating in the market include Dow Chemicals, BASF SE, Arkema,
AkzoNobel, and Evonik Industries. The market is extremely competitive due to the
presence of small-scale and well recognized manufacturers. The competition is
likely to increase in the coming years due to inconsistent prices of raw
materials. It is also expected to act as a barrier for the new participants.
The
market players are emphasizing on strategies like mergers, acquisitions, and
partnerships in order to increase their market share. The participants are also
expected to expand their capabilities and increase research and development
(R&D) activities. For instance, recently, AkzoNobel Specialty Chemicals is
making high investment to expand its production capacity and to upgrade its
organic peroxides settings in Los Reyes, Mexico. This project is likely to competed
through 2019. The new facility will manufacture Perkadox CH-50 organic
peroxides which is a prime requirement for the thermoset resin market. One of
the major breakthroughs is the ambient temperature curing of acrylic resins which
are used in road construction and roofing and resurfacing applications.
Access Full Press Release of this Report:
https://www.grandviewresearch.com/press-release/global-organic-peroxide-market
https://www.grandviewresearch.com/press-release/global-organic-peroxide-market
About Grand View
Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
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